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Bitcoin Mining and the 51% Attack

ORJI CECILIA O. on February 24, 2024

** WHY DOES MINING EXIST? ** To start at the beginning, let's look at why mining exists in the first place. The whole premise of Bitcoi...
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EnriqueYoder

It looks like you're diving into the world of Bitcoin mining and the security challenges it faces, especially with the potential for a 51% attack. Mining plays a crucial role in maintaining the security and integrity of the Bitcoin network by decentralizing the responsibility for transaction verification.

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MarkusBender

When it comes to the 51% attack, it's a serious concern, but fortunately, the Bitcoin network has robust defenses in place to prevent such attacks. The sheer amount of computing power and resources required to control over 50% of the network makes it highly unlikely, if not practically impossible, for anyone to successfully execute a 51% attack on the Bitcoin network.