Wondering about what a “51% attack” is? When the mining power for a decentralized blockchain network becomes too concentrated (centralized), miners with bad intentions can overturn blockchain transactions and double-spend participants’ crypto.

This week, privacy coin Monero (XMR) mining pool MineXMR’s hash rate surpassed 44% of the hash rate of the XMR network, and XMR hodlers are growing concerned. Monero’s protocol has several protections built-in. Your homework for today is to learn about 51% attacks and, for bonus points, learn why Monero is better protected from them than most other cryptocurrencies.

Author’s note: This is not a sponsored post. I am the author of this article and it expresses my own opinions. I am not, nor is my company, receiving compensation for it.

About Shelly Palmer

Shelly Palmer is the Professor of Advanced Media in Residence at Syracuse University’s S.I. Newhouse School of Public Communications, co-founder of Metacademy, and the CEO of The Palmer Group, a consulting practice that helps Fortune 500 companies with technology, media and marketing. Named LinkedIn’s “Top Voice in Technology,” he covers tech and business for Good Day New York, is a regular commentator on CNN and CNBC and writes a popular daily business blog. He’s the Co-Host of the award-winning podcast Techstream with Shelly Palmer & Seth Everett and his latest book, Blockchain - Cryptocurrency, NFTs & Smart Contracts: An executive guide to the world of decentralized finance, is an Amazon #1 Bestseller. Follow @shellypalmer or visit shellypalmer.com.

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