Blockchain Quick Start Guide

Hacking – the 51% problem

Thanks to the rising price of BTC, the mining operation has become more attractive. Investments are rushing in and large mining pools involving thousands of rigs or more have joined the network in order to gain an advantage in the race to solve the puzzle first and get the reward. For players without large capital from investments, they have a choice to participate in a mining pool. When the pool wins a race, the award will be allocated to each participant based on the computational power contributed.

This ever-growing computational power of a pool poses a real threat due to the so-called 51% problem. This problem occurs when a miner manages to build up computational power to total at least 51% of the total computing ...