This is a common attack that I have seen on the news over the last year and there are many coins that have suffered from this as well. For those of you that are unaware, this is an attack whereby the network of the coin is compromised and the hacker – be it a single person or an organization – is now in control of most of the hash rate, which leads the network to be unstable and unsafe as well.
As is well known, hash rate is used in mining and with the hacker controlling the mining, they are able to disrupt activities on the network as well. Generally when this happens, the users are asked not to transact during that time as it could be lost. Have you ever come across a 51% attack?
As is well known, hash rate is used in mining and with the hacker controlling the mining, they are able to disrupt activities on the network as well. Generally when this happens, the users are asked not to transact during that time as it could be lost. Have you ever come across a 51% attack?