What is 51% Attack?

Question

What is 51% Attack?

Accepted Answer

A **51% Attack** is a theoretical or actual malicious takeover of a decentralized blockchain network where a single entity or group gains control of more than 50% of the network's total computational power (hash rate in Proof-of-Work) or staked tokens (in Proof-of-Stake), allowing them to manipulate the order of transactions and execute double-spending.

51% Attack

What is 51% Attack?

What is a 51% Attack and how does it work in a Proof-of-Work system?

What are the primary consequences and financial damages resulting from a successful 51% Attack?

How do Proof-of-Stake networks mitigate the risk of a 51% Attack compared to Proof-of-Work?

Which major cryptocurrencies have been successfully targeted by 51% Attacks, and what was the outcome?

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