Topic: what does controlling 51% of the network mean? (Read 402 times)

Akka

legendary

Activity: 1232

Merit: 1001

It means that you have the ability to completely control the newly found blocks.

Basically you can:

Orphant all Blocks from other miners
Completely decide which transaction get confirmed and which not
Invalid already confirmed transactions that have happened at the time you already had over 50% of the Hashing power (double spend) by orphaning existing blocks

What you can't:

Steal someone coins
Make any behaviour that is against the protocol, like for example create new coins out of thin air

pumawolf

sr. member

Activity: 968

Merit: 250

how would it happen , and what could they do with it? and is there any defense against it if it does happen? thanks guys,gals

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