January 2019
Beginner to intermediate
372 pages
11h 17m
English
Content preview from Foundations of Blockchain
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Avoiding the attack
The best way to avoid double-spends on a 51% attack is by increasing the wait time. The longer the wait, the smaller the chances of double-spends. As time passes, the transaction will get buried in the blockchain, making it difficult to reverse the transaction. This can be made sure by waiting for a specific number of block insertions (confirmations) after the transaction is included in a block. Each blockchain platform has its own suggested number of confirmations. The suggested Bitcoin block confirmation is 6, which means a wait time of around 60 minutes after the transaction is included in a block.
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