What is 51% Attack?

A 51% attack on a blockchain refers to a miner or a group of miners trying to control more than 50% of a network’s mining power, computing power or hash rate. People in control of such mining power can block new transactions from taking place or being confirmed.


Of course. Nice content. My view…

Bitcoin solves the Byzantine General Problem BGP so long as honest miners consist of at least 50% of the hashing power in the system.

If one miner controls more than 50% of the hash power, it can always produce a “longer” chain than all the other miners combined and therefore it can reverse its own past transaction and /or refuse to enter transactions from others.

This is called 51% attack

Note: it still can’t spend the bitcoin of others, but it can prevent them from being spent.

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