51% Attack Explained | Bitcoin Gold and Verge Recent Hack (Crypto)

51% attack is when an individual miner or group of miners manage to control more than 50% of a network’s hashing power. This would allow the attacker to disrupt the network and rewrite history if he desires so. Recent possible of 51% attack on the Verge network produced uncertainty and concern about this private cryptocurrency. Close to $1 million of the currency was stolen as one attacker was able to trick the system into thinking it had the consensus. Also on Bitcoin’s Gold network an attacker managed to double spend several times and collected $18 million
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51% Attack Explained | Bitcoin Gold | Verge | Hack | Cryptocurrency | Crypto

Post Author: CoinCryptoNews