51% Attacks

What is a 51% Attack?

A 51 percent attack is a possible attack on a blockchain network in which a single company or group controls the majority of the hash rate, potentially disrupting the network. In such a case, the attacker would have enough mining power to exclude or change the order of transactions on purpose. They could also undo transactions they made while in command, resulting in a double-spending situation.

A successful majority assault also allows the attacker to prevent some or all transactions from being confirmed (transaction denial of service) or to block some or all other miners from mining, resulting in mining monopoly.

A majority assault, on the other hand, would not allow the attacker to reverse transactions made by other users or to prevent transactions from being created and broadcasted to the network. Changing the block's reward, producing money out of thin air, or stealing coins that did not belong to the attacker are all considered implausible events.