What is a 51% Attack?

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What is a 51% Attack?

A 51% attack means an attack on a blockchain by miners who would take control over 50% of the network’s mining hashrate, or computing power.

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These attackers would then be able to stop new transactions from being confirmed, giving them the ability to stop payments between some or all of the blockchain’s users. They would also have the ability to reverse transactions that have been completed whilst they had control over the network, which would mean they could ‘double-spend’ coins (steal the coins back mid-transaction and use them again for another ... (read more)