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A 51% attack occurs when an attacker or group of attackers gains more than 50% of the network's mining power or hashrate. Attackers can block new transactions, delete or modify the blockchain's existing record, and even 'double-spend' (spending the same coins in two conflicting transactions) The attackers cannot alter the number of coins generated, create new coins, or spend others' coins.
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William • The Wordsmith
Writer • Techie 1+ year of experience writing in Web3, sharing my knowledge, thoughts, and experiences on Web3 and NFTs.
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