What is a 51% Attack in Cryptocurrency? Explained W/ Bitcoin & Zen Double Spend

[VoskCoin]

What is a 51% attack and why is it only possible with Proof-Of-Work cryptocurrencies like Bitcoin and ZenCash? Lets review how all PoW coins can be the victim of a double spend hack and how much money it would take to attempt this hack which just generated over a half of million dollars for the attack.

https://youtu.be/c64ckAgR4yM


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ZenCash Statement on Double Spend Attack - http://bit.ly/2yfeTsC
Coinmonks explain Bitcoin 51% Attack - http://bit.ly/2t0i5Dx
Bitcoin Gold 51% attack / double spend hack - http://bit.ly/2K1oCY8
Palm Beach Research "ZenCash out of thin air" - http://bit.ly/2JV3DGu
ZenCash livestream on 51% attack + solutions - http://bit.ly/2t3Bu6w
51% attack explained w/ longest chain ETH - http://bit.ly/2ld9c50
ZenCash Zen subreddit post on 51% attack - http://bit.ly/2M0rjXg
51% attack cost & price estimator for coins - http://bit.ly/2HYxcSl


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[Lafu]

All POW Coins can be affected  of an 51% Attack ! 
There are Sites you can look what it will be cost for do an Attack on an Coin !

Just for example :  https://www.crypto51.app/

There you can look for  a collection of coins and the theoretical cost of a 51% attack on each network !

I dont advert for this Site or for 51% Attacks , i just wanted to let you know how easy it will be to get an Attack on an Coin ! 


Regards Lafu

[Geraldo]

Again my favorite one Crypto channel, I always watching your channel. But this time I was on vacation, and my internet connection isn't fast enough for streaming your new videos. 

Yeah, basically it was a bit impossible 51% attack happened on major coins (at least nowadays) with a lot of spread miners, but what impossible on this earth, right? It was quite hard for personal miner nor even pools to reach more than 50% of Global Hashrate on the major coins network (that was an expensive thing to do)

Just for example :  https://www.crypto51.app/

There you can look for  a collection of coins and the theoretical cost of a 51% attack on each network !

The big four only available under 15% (on NicaHash). Will be better to do solo mining instead of Attacking the network  . IMHO That was a good reference, by the way. 

[VoskCoin]

All POW Coins can be affected  of an 51% Attack ! 
There are Sites you can look what it will be cost for do an Attack on an Coin !

Just for example :  https://www.crypto51.app/

There you can look for  a collection of coins and the theoretical cost of a 51% attack on each network !

I dont advert for this Site or for 51% Attacks , i just wanted to let you know how easy it will be to get an Attack on an Coin ! 


Regards Lafu

Yeah when it is broken down so simply on that site (doesn't include ALL factors but a decent baseline) it is . . quite alarming

[VoskCoin]

Again my favorite one Crypto channel, I always watching your channel. But this time I was on vacation, and my internet connection isn't fast enough for streaming your new videos. 

Yeah, basically it was a bit impossible 51% attack happened on major coins (at least nowadays) with a lot of spread miners, but what impossible on this earth, right? It was quite hard for personal miner nor even pools to reach more than 50% of Global Hashrate on the major coins network (that was an expensive thing to do)

Just for example :  https://www.crypto51.app/

There you can look for  a collection of coins and the theoretical cost of a 51% attack on each network !

The big four only available under 15% (on NicaHash). Will be better to do solo mining instead of Attacking the network  . IMHO That was a good reference, by the way. 

haha thanks my friend thats a big compliment, happy you enjoy my work! Hope the vacation was great

Unfortunately it can still be extremely lucrative to attack the smaller coins, even ZenCash which is not even a top 100 crypto on CMC netted them over $600,000 USD