%51 Attack on Blockchain
- Thread starter Sidaretta
- Start date
Hayden Russell
Junior Member
- Aug 8, 2019
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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.
Tabun
Registered Member
- Jan 17, 2020
- 54
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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.
JimHalpert
Supreme Member
- Jan 16, 2016
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- May 10, 2012
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This is basically all you need to know - https://medium.com/@ambroidcrypto/51-attack-protection-comparison-591b4a7c500f
social engineer
BANNED
- Mar 30, 2010
- 637
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if people have first hand knowledge they aren't going to admit to it.
DamonSalvatore
Junior Member
- Sep 11, 2019
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Ah, Reminds me of Silicon Valley (TV series) where i first heard that term.
This is the scene :
This is the scene :
Sidaretta
Newbie
- Feb 2, 2020
- 5
- 1
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
- Feb 2, 2020
- 5
- 1
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
- Feb 2, 2020
- 5
- 1
Oh thank you, it's cool, if you find some reference like this, with more details, pls send me
daenarys33
BANNED
- Feb 3, 2020
- 16
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you need to have 51% of the network to do attack
blue_knight
Junior Member
- Jan 19, 2020
- 182
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So, you are a blockchain researcher but you couldn't find details about a 51% attack?! Really?!
Sidaretta
Newbie
- Feb 2, 2020
- 5
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I'm just researcher, I'm not a genius or magician, you must be an idiot for judging me
The Block Box
Newbie
- Sep 3, 2020
- 5
- 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
- Jun 30, 2014
- 434
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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
crypto51.app shows a list of the top cryptocurrencies with the price to attack each , per hourly
You can also check out estimates of theoretical 51% attacks on this website:
https://www.crypto51.app/
https://www.crypto51.app/