Bitcoin Forum
May 24, 2024, 11:00:34 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Proofread 51% attack article  (Read 728 times)
virtfund (OP)
Sr. Member
****
Offline Offline

Activity: 672
Merit: 253



View Profile
September 23, 2014, 10:54:52 PM
 #1

I'm setting up an area at virtfund.com where those new to cryptocurrencies can learn about the important things before they invest a ton of time and money into something that isn't worthwhile ( hint, hint: shitcoin). I just finished an article on the possible effects of a 51% attack and I'm hoping some of you will help me out by making sure there aren't any information mistakes (grammar mistakes too if you have time but Ive tried to find those myself already)

You can find the article here: http://www.virtfund.com/51-attack.html

Thanks for your help!
subSTRATA
Legendary
*
Offline Offline

Activity: 1288
Merit: 1043


:^)


View Profile
September 25, 2014, 11:02:22 AM
 #2

Technically speaking, 51% attacker can not prevent anything. He can not prevent me from sending transaction, finding block nor he can prevent someone from finding block and
adding my transaction in it. What 51% attacker can do is double-spend, delay transaction confirmations and cause monetary loss via orphaning blocks found by other miners but
serious damage can be done only if attacker has massive advantage over all other miners - 51% hashrate is minimum required to do some damage but not serious one. There is
very well written whitepaper on the matter, check for it around (I think it was written by Meni Rosevelt or something like that).

theres nothing here. message me if you want to put something here.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!