Everything You Need To Know About the 51% Attack On Blockchain

Everything You Need To Know About the 51% Attack On Blockchain

When it comes to cryptocurrency mining, the key concern for people is that of a 51% attack — where a single attacker or group controls the majority of computational power of the Bitcoin blockchain. The attackers decide which transactions (if any) get processed in the blockchain.

Besides, through disrupting or censoring the information of new exchanges, a 51% attack can be leveraged for a double spend. This means that the criminal mines a…