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Blockchain Quick Reference
book

Blockchain Quick Reference

by Brenn Hill, Samanyu Chopra, Paul Valencourt
August 2018
Beginner to intermediate
350 pages
11h 58m
English
Packt Publishing
Content preview from Blockchain Quick Reference

Double spending

This is a type of attack on the blockchain network whereby a given set of coins is spent in more than one transaction; one issue that was noted here by the founder/founders of Bitcoin at the time of launch is 51 attacks. In this case, if a certain miner or group of miners takes control of more than half of the computing power of blockchain, being open in nature, anyone can be a part of the node; this triggers a 51 attack, in which, due to majority control of the network, the person can confirm a wrong transaction, leading to the same coin being spent twice.

Another way to achieve this is by having two conflicting transactions in rapid succession in the blockchain network, but if a lot of confirmations are achieved, then this ...

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Publisher Resources

ISBN: 9781788995788