What is "51% attack"In crypto-currencies, which use the principle of Proof of Work to select the main branch of the blockchain (for example Bitcoin), the "51% attack" is an opportunity for the attacker to collect more processing power than the rest of the network, and thus manipulate the transactions of the entire attacked blockchain . What the attacker can do:
Do not confirm other people's blocks, confirming only their own. In the case of bitcoin, this also means getting all the new bitcoins that are being emitted.
Block any transaction at your discretion
Double spending - the opportunity to spend several times the same funds from your wallet
How much does it cost to attack 51% for popular crypto currency?
The other day an interesting calculation was published in the network, how much would it cost to conduct an attack of 51% for popular crypto-currencies. The data itself is available at
https://www.crypto51.app/.
Key indicators:
Market Cap - capitalization of the currency
1h Attack Cost - cost of carrying out of attack of 51%, proceeding from a current cost of rent of computing capacity and hash-stoichosti blockade
NiceHash-able - the ratio of the amount of available computing power for leasing on one of the popular exchanges to the necessary power to attack 51%
But what about BLOCKCHAIN VENTUREON?Ventureon is not subject to 51% attack, because:
create of new pools is not possible, at least without coordination of existing owners of pools and necessity in increase of scalability
it does not matter what power one pool has, all pools are equal, even if 1 pool is controlled from the smartphone, and the other from the quantum computer, all pools in the blockchain are equal.
Be smart, join Ventureon.
https://t.me/BC_Ventureon
