{"id":11168,"date":"2024-02-17T06:56:38","date_gmt":"2024-02-17T11:56:38","guid":{"rendered":"https:\/\/faisalkhan.com\/?page_id=11168"},"modified":"2024-02-17T06:56:43","modified_gmt":"2024-02-17T11:56:43","slug":"51-attack","status":"publish","type":"page","link":"https:\/\/faisalkhan.com\/learn\/payments-wiki\/51-attack\/","title":{"rendered":"51% Attack"},"content":{"rendered":"\n
A 51% attack<\/strong> refers to a situation in which a single entity or group gains control of more than half of the computing power (hashrate) on a blockchain network. This level of control can potentially allow the entity to manipulate the blockchain in various harmful ways, such as double spending coins, preventing new transactions from being confirmed, or altering the ordering of transactions. It’s a significant security concern in the realm of decentralized cryptocurrencies.<\/p>\n\n\n\n Primarily, the concept of a 51% attack is relevant in the context of blockchain technology and cryptocurrencies that utilize Proof of Work (PoW) for consensus on the network.<\/p>\n\n\n\n A 51% attack is not used for any legitimate purpose by design; instead, it represents a vulnerability. Attackers may pursue it for financial gain (e.g., double spending) or to damage a network’s credibility.<\/p>\n\n\n\n This kind of attack would be executed by miners or groups of miners who have amassed enough computational power to control over 50% of the network’s mining hashrate.<\/p>\n\n\n\n The concept of a 51% attack is inherent to the structure of blockchain technology itself and is not “issued” by any entity. It is a potential risk arising from the decentralized and competitive nature of mining in blockchain networks.<\/p>\n\n\n\n There is no centralized authority that regulates or prevents 51% attacks. However, blockchain networks may implement various technical measures to increase their resistance to such attacks.<\/p>\n\n\n\n The primary risk of a 51% attack includes:<\/p>\n\n\n\nWhere It Is Used<\/h3>\n\n\n\n
Why It Is Used<\/h3>\n\n\n\n
Who Uses It<\/h3>\n\n\n\n
Who Issues It<\/h3>\n\n\n\n
Who Regulates It<\/h3>\n\n\n\n
Top Usage<\/h3>\n\n\n\n