3 ms·
It's worth mentioning there's no need for 51+% control of hashrate to execute this double spend attack. It's very possible to execute one with minority control
by tristanj 9y ago
It's worth mentioning there's no need for 51+% control of hashrate to execute this double spend attack. It's very possible to execute one with minority control however success is not guaranteed. With 20% control of hashrate an attacker would have a 2.33% chance of executing a double spend attack. Even at 10% control, the attack is still possible (0.059% success rate). At 40% control, the attacker has a near coinflip for success (49.30%).
Probabilities come from this paper which has a table about double spending on page 10. https://bitcoil.co.il/Doublespend.pdf https://bitcoil.co.il/Doublespend.pdf