Question

What is a 51% attack?

Answer 1

A 51% attack refers to a situation in blockchain networks where a single entity or a group of entities control more than half of the network's mining power, giving them the ability to manipulate or control the network. This control enables them to potentially disrupt the normal functioning of the network, such as reversing transactions, double-spending coins, or preventing other miners from confirming new blocks.

Answer 2

A 51% attack is a type of attack on a blockchain network, where a single entity or a group of entities control more than 50% of the network's mining power, allowing them to manipulate the network by preventing new transactions from being confirmed, reversing transactions, and potentially double-spending coins. This can lead to a loss of trust in the network and its underlying cryptocurrency.