What Is a 51% Attack? — CoinDesk

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Think of it as asking for a film suggestion. If you had been to ask somebody if a explicit film was good and so they reply sure, it might nonetheless be horrible. But in the event you had been to ask 1,000 totally different folks in regards to the film and so they all mentioned sure, then there’s a much better likelihood the film is, in truth, good as a result of it’s been unanimously verified. For proof-of-work (PoW) blockchains like Bitcoin, this “consensus” assures that a miner can validate a new block of transactions provided that the community nodes agree on the block’s validity. Such consensus algorithms are the choosy film critics of the blockchain world: They will see the brand new film provided that everybody agrees that it was good. The consensus algorithm, nonetheless, merely asks “everybody,” no matter whether or not all people is 10 folks or a billion. If a majority agree that the film was good, then the algorithm will agree with it.