Linked Questions

0
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1answer
324 views

What concerns arise from the heavy miner concentration in China? [duplicate]

As per an Business Insider article last year, approximately 73% of the hash power comes from China. Over 50% just by the top 3. If coordinated, they could cause havoc. Is that a concern to anyone?
-2
votes
1answer
169 views

Is possible to control the network? [duplicate]

Can anyone with enough computing power, take over the network ? This is following from a previous comment where I was asking : ... how can that be possible (to control the network) if mining tend ...
0
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4answers
77 views

Why does a malicious miner need more hashing power than the rest of the network combined? [duplicate]

I don’t quite understand why a malicious miner needs more hashing power than the rest of the network combined. When miners are solving a hash puzzle, aren’t they solving the puzzle individually? If ...
1
vote
1answer
74 views

Are transactions in the mined block validated by other nodes on the network? [duplicate]

After successfully mining a block, the block and the solution is broadcast to the network. The nodes on the network in turn verify the solution. Aren't transactions that belong to the broadcasted ...
0
votes
2answers
67 views

What is the actual threat of a majority attack on the Bitcoin blockchain? [duplicate]

As far as I understand, an attacker (in the role of a malicious miner) controlling a large portion of the current hash power could replace previously accepted blocks with alternatives. But, what does ...
0
votes
1answer
45 views

How can a 51% attack be successful? [duplicate]

In the paper by Nakamoto, miner can accept the mined block only if all transaction are valid. Assume that there are 5 miners in the world. 4 of 5 are honest that have 10% of 100% hash power and 1 of ...
1
vote
0answers
33 views

What Is 51% Attack In Bitcoin? Can Crypto Mining Pools Invade A Majority Attack On Bitcoin? [duplicate]

As the cryptocurrency mining is becoming less profitable for the small miners with rising electricity costs and a shrunken market due to big commercial miners pool, these pools pose a risk of a 51% ...
0
votes
0answers
14 views

Regarding 51% attacks in blockchain [duplicate]

Can anyone tell me, What is 51% attack in blockchain how this attack is prevented
15
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8answers
3k views

Are there algorithms that could be used for mining that resist acceleration with ASICs?

In my related question about mining algorithms that balance CPU and GPU it came up that such an algorithm would tremendously increase the incentive for people to create mining botnets. The prospect of ...
6
votes
5answers
3k views

Supermajority to prevent 51% attack?

I would think that amending the bitcoin protocol to require a supermajority, say 60% or 75%, to verify proof of work help reduce the risk of a 51% attack. If this is so, what are the major obstacles ...
22
votes
2answers
5k views

Could the EC2 infrastructure be used to efficiently launch a 51% attack?

This excellent answer from Serith states that one would need 31150 ATI 5870 graphics cards to launch a 51% attack. Amazon EC2 offers computers for rent for 2.10$ per hour. These instances have 2 x ...
15
votes
3answers
6k views

Could there be hyperinflation in Bitcoin?

Currently the creation of new coins is fixed at a certain rate which halves every few years and will at some point in the future drop to zero. As I understand it, this is by consensus, i.e. all the ...
9
votes
4answers
309 views

String-along, is this possible and is it an attack?

I haven't seen this discussed before, if it has been please provide a link. If I find a block while mining but then discover that another miner broadcast a block mere moments ago, I could begin ...
12
votes
3answers
2k views

Can someone with 51% computing power earn more than he deserves?

See also What can an attacker with 51% of hash power do? This may have been discussed elsewhere, but I'm not sure what the answer is - if someone owns 51% of the hash power, can't he just ignore the ...
9
votes
3answers
753 views

Is it possible for the miners to collude to blackmail a single wealthy address?

Imagine if a few miners who together control more than 50% of the network hash power decided to charge higher transaction fees just for addresses containing really large sums. For example, this ...

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