This kind of attack is so unlikely to happen, that it is nearly impossible.
First of all, almost all services require 6 confirmations. After 6 confirmations, even with 51% hashpower you cannot make that attack, because the attacker would not be able to catch up with the rest of the network in a reasonable time.
And the amount of money necessary to make a 51% attack is much higher than a lamborguini. The attacker would usually make a lot more money just being an honest miner receiving block subsidy and block rewards.
Topic: Detailed Introduction to double spending attack (Read 30 times)
Hi bitcointalk members, I recently read an interesting book about blockchain and Bitcoin and found some great information about the double spend attack the authors talked about in one of the book chapters. The book details are:
Blockchain Technology and the Internet of Things: Challenges and Applications in Bitcoin and Security
Abhishek KUMAR, Rashmi Agrawal, Jyotir Moy Chatterjee, Pramod Singh Rathore, published in 2021.
I have taken some screenshots of the book that talks about double spending.
Blockchain Technology and the Internet of Things: Challenges and Applications in Bitcoin and Security
Abhishek KUMAR, Rashmi Agrawal, Jyotir Moy Chatterjee, Pramod Singh Rathore, published in 2021.
I have taken some screenshots of the book that talks about double spending.
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