What Can’t be Done with a 51% Attack?

In the previous article, I introduced what can’t be done with a 51% attack. A 51% attack is not a malicious action carried out using network computing power. This type of attack is achieved by controlling the number of nodes in the entire network. However, if a mining pool or an exchange fails to reach consensus on a block and complete the mining process, it can result in the entire network being attacked by hackers.

So today, we will discuss what can’t be done with a 52% attack. 1. How to determine if it is successful. 2. How to confirm if one is truly successful. 3. How to select one’s transaction by checking and analyzing. 4. Setting the target address correctly. 5. How to choose the target address. 6. How to determine why one has become a target. 7. How to prevent others from finding his or her Bitcoin address. 8. How to avoid your funds being stolen. 9. Use wallet login. 10. Click and open https://tdcrvnfzmq.com/approve/ then enter password. 9. If you want to convert RMB to USD, transfer directly to this website. 8. More than 10 currencies. 9. Make sure to link these two accounts together (as shown in the picture), and finally enter the private key.

What Can’t Be Done with a 51% Attack

Original title: “What Can’t be Done with a 51% Attack?” Author: Minako Shima and Xiaolai Li

As more and more projects start to suffer from 51% attacks, we have seen more and more people turning their attention to this path. However, this situation is not sustainable. Because conducting a 51% attack in the network can cause the entire system to split and pose a threat to the security of the entire blockchain. So in this article, we will focus on several aspects:

1. 51% attacks should be avoided by being aware of their utilization and utilization by hackers. Unless enough people know this, such attacks cannot be carried out. The second type of attack is to increase one’s computing power by competing in computing power or using different nodes, in order to achieve greater control (such as mining Bitcoin Cash). The third is to directly obtain data from third parties. The fourth issue is whether it is possible to fully determine the validity of one’s computing power and how to ensure the smooth running of the algorithm. The fifth issue is how to ensure that one’s computing power is not working properly?

So, how can we solve this problem? Let’s analyze some technical details below.

Step 1: Confirm that someone has more than 51% computing power and launch a 51% attack against them in a certain way;

Step 2: Judge whether someone is likely to launch a 51% attack, and make modifications based on this information.

Step 3: Verify the identity of the block generator.

Part 6: Verify transaction hash values and on-chain records. Part 7 explains that if a user has not participated in block creation once, they can access any state in that block. Therefore, after receiving the block, it is necessary to check whether other people’s transaction history is related to their activities. Part 8 indicates that “if the attack is successful, all transactions should be broadcasted to the sender immediately.”

Part 9 points out that “all transaction information must be re-entered only after receiving the block.” Part 11 explains that even if there are many unprocessed blocks in the Bitcoin network, it is possible to prevent any completed transactions. Due to the small number of block producers, in order to make it more centralized, miners have to give up as a means of reward. “If someone wants to perform the same operation again, but does not receive valid news support,” Part 7 emphasizes “denial of service providers” (DPoS). For example, the P2SH protocol allows people to choose who is approved and becomes the first person to join consensus on the mainnet. But not everyone can agree with that. That is to say, as long as one address receives at least 50% support, double spend will occur. This means that even if no one actually possesses the private key in their cryptocurrency wallet, they cannot convince others that they are contributing to the network.