Avoiding the Bitcoin Mining General Data Center Trap
In the dynamic world of cryptocurrencies, Bitcoin stands as a towering figure, a digital gold rush drawing in a diverse
4479 Desserte Nord Autoroute 440, Laval, QC H7P 6E2
4479 Desserte Nord Autoroute 440, Laval, QC H7P 6E2
A 51% attack occurs when a person, or a group of people, can stop Bitcoin transactions and even cancel them by having the majority of the mining power to do so.
Mining is an essential part of Bitcoin’s protocol, where specialized computers called ASICS add the final round of transactions to the blockchain.
Therefore, mining operations mustn’t become too centralized, which is why China’s Bitcoin mining ban in 2021 was welcomed, as all mining power was distributed across the world with ASICs looking for a new home.
Due to the size of Bitcoin’s network, a 51% attack becomes much less likely, but the same cannot be said for shitcoins…
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