What is an attack of 51%?

tokenh6_wp Staff asked 7 months ago

1 Answers
tokenh6_wp Staff answered 7 months ago

51% attack refers to an attack on a blockchain – usually bitcoin’s, for which such an attack is still hypothetical – by a group of miners controlling more than 50% of the network’s mining hashrate, or computing power. The attackers would be able to prevent new transactions from gaining confirmations, allowing them to halt payments between some or all users. They would also be able to reverse transactions that were completed while they were in control of the network, meaning they could double-spend coins.

Source: https://www.investopedia.com/terms/1/51-attack.asp#ixzz59wRuPr6X

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