The Vulnerability Of Bitcoin
Video Credit: Rumble - Duration: 05:40s - Published
The Vulnerability Of Bitcoin
We dive deep into the concept of a 51% attack within the blockchain ecosystem, a scenario where an individual or a group gains control over more than half of a blockchain's hashing power.
This control can lead to severe security breaches, including the ability to block or reverse transactions, leading to double spending—a critical flaw where the same digital asset is spent more than once.
The video meticulously explains how attackers can rent hash power to achieve this dominance and the limitations of the damage they can inflict, such as the inability to create new coins, steal unrelated assets, or alter block rewards.
