DiamondStorm
Thu Jan 23 2025
|
6 answers
1614
What is the 51% rule in crypto?
The 51% rule in crypto refers to a potential attack scenario where a malicious actor gains control of over 50% of the network's hashing power. With this majority, they can theoretically rewrite the blockchain, allowing for double-spending of coins or the reversal of transactions. This attack is mostly a concern for cryptocurrencies using the Proof-of-Work consensus mechanism, like Bitcoin.
Claudio
Thu Oct 10 2024
|
7 answers
1739
What is the 51% rule in Bitcoin?
The 51% rule in Bitcoin refers to a situation where a single entity or group controls more than half of the network's computing power. This allows them to potentially manipulate transactions, such as double-spending or preventing confirmations, which can lead to a loss of trust and value in the network. However, it's important to note that executing such an attack is difficult and expensive due to the distributed nature of the Bitcoin network.
