51% Attack

A 51% attack occurs when someone, or a group of people, are able to stop Bitcoin transactions happening and even reverse them by having a majority of the mining power to do it.

Mining is an essential part of Bitcoin’s protocol where specialised computers called ASICS add the latest round of transactions to the blockchain.

Therefore it is important that mining operations don’t become too centralised, which is why the 2021 China ban of Bitcoin mining was welcomed as all the mining power became distributed across the world with ASICs looking for a new home.

Due to the size of Bitcoin’s network, a 51% attack becomes much less likely but the same can’t be said for shitcoins

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