I'm blockchain researcher, and I need more details about %51 Attack on Blockchain, unfortunately I c


  • Total voters
    13

Sidaretta

Newbie
Joined
Feb 2, 2020
Messages
5
Reaction score
1
Hi everybody
I'm blockchain researcher, and I need more details about %51 Attack on Blockchain, unfortunately I couldn't find any details about this, can anyone help me or introduce any reference for me?
 

Tabun

Registered Member
Joined
Jan 17, 2020
Messages
55
Reaction score
42
51% is an attack where a group of miners have >50% of the networks hashrate (computing power). Basically, this would allow them to prevent other peoples transactions, double-spend coins, and other nefarious things. With a coin like BTC where the hashrate is enormous, this kind of attack probably would not be feasible due to how large the associated computing costs would be. However, with smaller coins, it can be. Bitcoin Gold recently had about $70k being double spent, and Bitcoin Cash had an incident last year where two big pools reversed some transactions.
 

Sidaretta

Newbie
Joined
Feb 2, 2020
Messages
5
Reaction score
1
A 51% attack is when 51% of the mining power on a block chain network are controlled by one person. This person can then make whatever rules they want to for the network.
thanks, but I need more details about this, some websites on TOR network has this knowledge and there rent this, I need more details
 

Sidaretta

Newbie
Joined
Feb 2, 2020
Messages
5
Reaction score
1
51% is an attack where a group of miners have >50% of the networks hashrate (computing power). Basically, this would allow them to prevent other peoples transactions, double-spend coins, and other nefarious things. With a coin like BTC where the hashrate is enormous, this kind of attack probably would not be feasible due to how large the associated computing costs would be. However, with smaller coins, it can be. Bitcoin Gold recently had about $70k being double spent, and Bitcoin Cash had an incident last year where two big pools reversed some transactions.
thanks, but I need more details about this, some websites on TOR network has this knowledge and there rent this, I need more details
 

Sidaretta

Newbie
Joined
Feb 2, 2020
Messages
5
Reaction score
1
This is basically all you need to know - https://medium.com/@ambroidcrypto/51-attack-protection-comparison-591b4a7c500f
Oh thank you, it's cool, if you find some reference like this, with more details, pls send me
 

blue_knight

Junior Member
Joined
Jan 19, 2020
Messages
182
Reaction score
58
Hi everybody
I'm blockchain researcher, and I need more details about %51 Attack on Blockchain, unfortunately I couldn't find any details about this, can anyone help me or introduce any reference for me?
So, you are a blockchain researcher but you couldn't find details about a 51% attack?! Really?!
 

Tabun

Registered Member
Joined
Jan 17, 2020
Messages
55
Reaction score
42
There is no "secret information," the concept is simple. However, there is probably pools of people working together to manipulate smaller coins, which is most likely the "knowledge" you'd find on Tor.
 

The Block Box

Newbie
Joined
Sep 3, 2020
Messages
5
Reaction score
1
A 51% attack is basically a double-spend attack where you need 51% of the hashrate for it to work. If you own 51% (or more) of the total computing power of a network, you can reverse any transaction that’s happening on the network. You can also choose which transactions appear in blocks, so basically you have all the power to do whatever you like. I remember there was a huge deal around ETC suffering a double spend attack last year, so if such a large chain could suffer from it, smaller ones are even more open to these attacks.
 

jasonforrest

Regular Member
Joined
Jun 30, 2014
Messages
332
Reaction score
81
there were some ETC & bcash (BCH) 51% attacks pretty recently. Anything 51% means their mining is pretty much centralized. Not a secure crypto/network

crypto51.app shows a list of the top cryptocurrencies with the price to attack each , per hourly
 
Top