MUE To Migrate to Proof of Stake Algorithm After Attack
Monetary Unit, MUE which claims to be a self-sustaining and self-governing blockchain cryptocurrency is set to migrate from Proof of Work (PoW) to Proof of Stake (PoS) consensus. The blockchain network has come under serious attacks recently, and this is the primary reason for the move to PoS consensus. The company stated in an official post to its community that:
It appears to have been a kind of replay/re-organization attack POW coins have been victim of in recent months and that was able to obtain MUE in the millions. We have decided on immediate action/resolution. As per the community vote some weeks back in which 57% voted for a move to a POS (proof of stake) coin with Masternodes & budgets, that is exactly what we are going to do.
In order to ensure that the attackers don’t have a field day, MUE has decided to perform a 1:1-coin swap for all transactions up to and including block 833658.
The team also noted that they have been planning to move to PoS at some point, the attack facilitated and fueled their decision to implement the move now. To ensure that users do not run into any complications or end up losing their MUE tokens, the team has advised that all mining activities and transfer of coins should be put on a temporary hold.