Wait what !……. BLOCKCHAIN can be HACKED ☠️

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THE 51% ATTACK :
In the world of digital ownership, there exists a security concern known as the “51% attack.” This particular vulnerability revolves around the way transactions are verified and supported within a network of owners, similar to how ownership is validated in a community ledger.

Imagine a system where the integrity of transactions is backed by a community of people who collectively validate ownership. Now, if one entity gains control of more than 50% of this ownership, they hold significant power over the network. This party becomes the majority owner and essentially has the final say in the transaction verification process.

Executing a successful 51% attack, however, is exceedingly challenging and expensive, especially in larger networks. In practical terms, it’s highly unlikely for any single entity to possess more than 51% of the total ownership.

There’s also another attack vector known as the “Sybil attack,” where dishonest individuals create numerous fake identities and accounts. However, this tactic alone doesn’t help achieve the 51% attack, as the bad actors would need to control the majority of the entire ownership pool to carry out their strategy effectively.

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