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.
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