muk’s Newsletter • 0 implied HN points • 16 Sep 23
- Bitcoin may be under a possible 51% attack, which can provide attackers with the power to reverse transactions and control block production.
- Understanding the basics of Nakamoto Consensus helps in comprehending the vulnerability to 51% attacks in Bitcoin and the importance of hashpower in the network.
- A 51% attacker can aim to gain 100% control over block rewards by manipulating block production and slowly squeezing out other miners, posing a threat to the open nature of the network.