%51 Attack on Blockchain

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

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Sidaretta

Sidaretta

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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?
 
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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.
 
Hayden Russell said:
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.
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thanks, but I need more details about this, some websites on TOR network has this knowledge and there rent this, I need more details
 
Tabun said:
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.
Click to expand...
thanks, but I need more details about this, some websites on TOR network has this knowledge and there rent this, I need more details
 
Nargil said:
This is basically all you need to know - https://medium.com/@ambroidcrypto/51-attack-protection-comparison-591b4a7c500f
Click to expand...
Oh thank you, it's cool, if you find some reference like this, with more details, pls send me
 
Sidaretta said:
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?
Click to expand...
So, you are a blockchain researcher but you couldn't find details about a 51% attack?! Really?!
 
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.
 
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.
 
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
 
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