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by Retric
2339 days ago
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A presumably legal and profitable 51% attack can be to simply ignore other miners. Effectively someone with 45% hashing power get’s 45% of the block rewards + fees. However someone with 55% hash power can get 100% of the rewards plus fees a significant bonus. Alternatively, double spends let someone sell the same coins to multiple people though at legal risk for doing so while also theoretically collecting all block rewards. However, the largest risk is from the software side. The physical owner of the hardware spends money, a hacker only spends their opportunity costs. |
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Note that, until the 2-week boundary where difficulty adjusts, they only get 100% of the roughly 45% less frequent rewards, since the 45% orphan rate will slow down overall progress.