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\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

How Does A 51% Attack Work?<\/h2>\n\n\n\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A 51% attack is a potential attack where a person or group gains a majority of a blockchains hashing power to control the network and its ledger.<\/p>\n\n\n\n

How Does A 51% Attack Work?<\/h2>\n\n\n\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3473,"post_author":"1","post_date":"2022-02-15 20:22:37","post_date_gmt":"2022-02-15 09:22:37","post_content":"\n

A 51% attack is a potential attack where a person or group gains a majority of a blockchains hashing power to control the network and its ledger.<\/p>\n\n\n\n

How Does A 51% Attack Work?<\/h2>\n\n\n\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3473,"post_author":"1","post_date":"2022-02-15 20:22:37","post_date_gmt":"2022-02-15 09:22:37","post_content":"\n

A 51% attack is a potential attack where a person or group gains a majority of a blockchains hashing power to control the network and its ledger.<\/p>\n\n\n\n

How Does A 51% Attack Work?<\/h2>\n\n\n\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3473,"post_author":"1","post_date":"2022-02-15 20:22:37","post_date_gmt":"2022-02-15 09:22:37","post_content":"\n

A 51% attack is a potential attack where a person or group gains a majority of a blockchains hashing power to control the network and its ledger.<\/p>\n\n\n\n

How Does A 51% Attack Work?<\/h2>\n\n\n\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3473,"post_author":"1","post_date":"2022-02-15 20:22:37","post_date_gmt":"2022-02-15 09:22:37","post_content":"\n

A 51% attack is a potential attack where a person or group gains a majority of a blockchains hashing power to control the network and its ledger.<\/p>\n\n\n\n

How Does A 51% Attack Work?<\/h2>\n\n\n\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3473,"post_author":"1","post_date":"2022-02-15 20:22:37","post_date_gmt":"2022-02-15 09:22:37","post_content":"\n

A 51% attack is a potential attack where a person or group gains a majority of a blockchains hashing power to control the network and its ledger.<\/p>\n\n\n\n

How Does A 51% Attack Work?<\/h2>\n\n\n\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A mining hashrate is the amount of processing power a miner or network has to process transactions onto a blockchains ledger<\/a>.<\/p>\n\n\n\n

The hashrate of a miner<\/a> refers to the number calculations a rig can solve per second, known as a hash. <\/p>\n\n\n\n

The hashrate of a network refers to the hash rates of all miners<\/a> on a specific network.<\/p>\n\n\n\n

Why Is Hashrate Important?<\/h2>\n\n\n\n

Hashrate can measure the health and security of a network against potential attackers. Having a higher hashrate means a 51% attack<\/a> is unlikely due to the high amount of computational power needed. The more computational power or nodes<\/a> within a network, the more secure it is.<\/p>\n\n\n\n

Hashrate is also a metric that can measure the profitability of miners. For a single mining device having a high hashrate means that you'll increase your compensation for the work you put in, giving you a better reward.<\/p>\n","post_title":"Mining Hashrate Explained","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"mining-hashrate","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:17:31","post_modified_gmt":"2022-06-02 12:17:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3471","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3473,"post_author":"1","post_date":"2022-02-15 20:22:37","post_date_gmt":"2022-02-15 09:22:37","post_content":"\n

A 51% attack is a potential attack where a person or group gains a majority of a blockchains hashing power to control the network and its ledger.<\/p>\n\n\n\n

How Does A 51% Attack Work?<\/h2>\n\n\n\n

Whenever a cryptocurrency exchange happens, the transactions are stored within a block and every couple of seconds or minutes this block is validated by a consensus of nodes or computers attached to the said network. A block is only added to the chain after it has been validated.<\/p>\n\n\n\n

The blockchain contains a record<\/a> of all exchanges that anybody can view at any time, known as a distributed ledger<\/a>. This arrangement of record-keeping is decentralized, meaning no single individual or group has control over it.<\/p>\n\n\n\n

But when a majority, or more than 51%, of hashing power is controlled by a single entity the network is disrupted.<\/p>\n\n\n\n

The attackers would control the network meaning they'd be able to prevent some or all transactions from being confirmed, reverse completed transactions allowing double-spending coins, and prevent some miners from mining (through a mining monopoly).((https:\/\/academy.binance.com\/en\/articles\/what-is-a-51-percent-attack))<\/p>\n\n\n\n

<\/p>\n","post_title":"51% Attack Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"51-attack","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/","post_modified":"2022-06-02 22:18:31","post_modified_gmt":"2022-06-02 12:18:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3473","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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