What is 51 % Attack - 10 % Beneficiary set to @tron-fan-club
Assalamu Alaikum, I hope everyone is very well, and I am also very well in your prayers by the infinite mercy of Allah Alhamdulillah. Today I will share a very important post with you. Always want to share any important post. Today I will discuss 51% attack. In fact, we should all know about this. I hope you will benefit from my post today and you will like it.
Today I will discuss with you about 51% Attack. So, first of all, I would like to give you a real example that if anyone presents any work in our Parliament, then the Speaker takes the opinion of the Members of Parliament and if more than half of the votes are in favor, then it is effective. 51% Attack is like that. We know that the block usually has 3 data, data, and the third is the hash of the previous block. And if someone wants to create a valid block, the opinion of the minors is taken over 50%. Generally, a block is considered valid only if more than 50% of the users or minors declare a block as valid. And then that block will be added to the blockchain. In this case, if anyone
Now Bitcoin wants to attack 51% of the network but it needs to have 51% of the total hash power. Only then will he be able to attack 51%. Now I will discuss with you if 51% Attack then what changes can happen in the network? Although it is very difficult to attack this 51%, if somehow a hacker gets this 51% hash power, then that hacker can easily change the blockchain of bitcoin network, since this hacker gets 51% hash power so he can do whatever he wants. He will get the ability to validate or invalidate the block.
Where he will benefit the most is that he can reverse the transaction by double spending and he can also increase the confirmation time of the block. However, in this case, he will never be able to make any changes in the previous block, even after hundreds of attempts. Let me tell you one thing, this hacker will have control over the next block as long as he can retain this 51% hash power.
In fact, I am sometimes surprised that hackers make this impossible task possible. Although it requires a lot of time and effort. Although it may seem impossible, the Ethereum blockchain fell 3 times in this 51% attack. The last time was very recently August 29, 2020. The hackers double-spent $5.6 million to make this impossible task possible.
This was my discussion of 51% of attacks today. I have tried to explain to you very easily and with examples. Hope you understand very easily. Until today, I will appear in front of you with another post in the coming days. Until then everyone stay healthy and stay well.
https://twitter.com/Sadiabd97/status/1513764977756172290?t=np4RRywj7t7c87WEBJ83mQ&s=19
The discussion you have made is very useful for all of us to be more careful in conducting cryptocurrency transactions.
brother this is actually very important to us. Thank you so much for encouraging me with nice comments.
A very important post you shared with us today. With 51% attack, you have presented this issue to us with a very good example. Thanks for sharing the post
You are right brother. Thank you very much, and best wishes for you.
What is 51% I started reading your post after seeing this caption. You have shared the matter with us in a very beautiful way. Your presentation was perfect.