51% Attack

What is 51% Attack: 51% Attack Meaning

A 51% attack is a situation where more than half of the computing power on a network is operated by a single individual or concentrated group, which gives them complete and total control over a network.

Things that an entity with 51% of the computing power can do include, but are not limited to:

Halting all mining.

Halting and manipulating all interpersonal transactions.

Double Spending using singular coins over and over (this simply means that they can spend same coin/token money twice by deleting transactions from the Blockchain records).