Understanding Bitcoin 51% Attacks: Risks and Prevention
A Bitcoin 51% attack occurs when a single entity gains control of more than 50% of the network\“s mining power. This allows them to manipulate transactions and potentially double-spend coins.The attacker could reverse transactions, prevent confirmations, and disrupt the network\“s integrity. However, executing such an attack on Bitcoin is extremely costly due to its massive hashrate.
To mitigate risks, the Bitcoin community relies on decentralized mining and continuous network monitoring. Exchanges also require multiple confirmations for large transactions.
While 51% attacks remain a theoretical threat to smaller cryptocurrencies, Bitcoin\“s robust security makes it highly resistant to such attacks.
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