Connect with us


What is a 51% Attack on the Blockchain?




A 51% attack is a type of attack against blockchain that occurs when a miner (a single attacker) or group of miners gain control of more than 50% of the network’s total mining/hashing power, allowing them to manipulate the blockchain and double-spend coins. This type of attack is particularly dangerous because it allows the attacker to reverse transactions and prevent new transactions from being confirmed.

Ethereum Classic blockchain

One of the major incidents of a 51% attack occurred in January 2019 on the Ethereum Classic blockchain. An unknown attacker was able to control more than 50% of the network’s mining power and used it to double-spend coins, reversing transactions and stealing more than $1 million worth of cryptocurrency.

Additionally, in August 2021, the Ethereum Classic blockchain was hit by another 51% attack incident where the attacker used their control over the network to double spend $5.6 million worth of cryptocurrency.

Bitcoin Gold blockchain

Bitcoin Gold, a cryptocurrency that forked from the original Bitcoin blockchain in 2017, experienced a 51% attack. This resulted in the double-spending of over $72,000 worth of Bitcoin Gold tokens. This was the second time that Bitcoin Gold has suffered such an attack, with $18 million worth of tokens being stolen in May 2018.

Bitcoin SV blockchain

In the case of Bitcoin SV (BSV), there have been several instances of 51% attacks reported in August 2021.

by Lucas Nuzzi, a network data product manager at Coin Metrics

But according to the Bitcoin Association, the hacker’s attempts to perform a 51% attack were not successful.

Other major incidents

In addition to these incidents, there have been several other instances of 51% attacks on other smaller blockchain networks such as ZenCash, Monacoin, and Verge. For example, in April 2018, the ZenCash blockchain fell victim to a 51% attack, resulting in the attacker stealing more than $500,000 worth of cryptocurrency. Similarly, in May 2018, the Monacoin blockchain was targeted in a 51% attack, resulting in the attacker stealing more than $90,000 worth of cryptocurrency.

How to fight 51% attacks

These attacks also highlights the importance of implementing security measures such as checkpointing, which allows the network to periodically take a snapshot of the blockchain and use it as a reference point to detect and prevent any malicious activity.

Another way of mitigating such type of attack is to use a different consensus mechanism which is more resistant to 51% attack like Proof of Stake (PoS) which do not rely on hashing power to secure the network.


The 51% attack is a serious threat to the security of blockchain networks, particularly smaller networks. It is crucial for blockchain networks to take steps to prevent such attacks and for users to be aware of the risks associated with small and under-secured blockchain networks.

Daily cryptocurrency trader, miner, technology enthusiast and a full time IT and security consultant. If you have any questions or comments please feel free to email him at [email protected]


What is The World State Blockchain Project?




The concept of a digital democratic state has been the subject of many debates and discussions in recent years. The rise of blockchain technology has enabled the creation of a new type of state that is decentralized, transparent, and accountable. The World State is an example of such a state, which is based on the principles of blockchain technology and digital democracy.

The World State is a blockchain-based digital democratic state that operates on a decentralized platform. It is designed to be transparent, accountable, and democratic, with its citizens having a say in the decision-making process. The World State operates on a distributed ledger technology, which allows for secure and transparent transactions between its citizens.

The World State is a global community that is governed by its citizens, with all decisions being made through a voting process. Citizens have the right to propose new policies and vote on existing ones, with the majority vote being the deciding factor. This system of governance is designed to ensure that the interests of all citizens are taken into consideration and that decisions are made for the benefit of the entire community.

The World State is also designed to be completely transparent, with all transactions being recorded on the blockchain. This means that every citizen can see exactly how the state is operating, how decisions are being made, and where resources are being allocated. This transparency ensures that there is no corruption or misuse of resources, and that the state operates in a fair and just manner.

One of the key benefits of the World State is its decentralized nature. Unlike traditional states, there is no central authority or government controlling the state. Instead, the state is controlled by its citizens, who have equal voting rights and the ability to propose and vote on policies. This decentralized structure ensures that power is distributed equally, and that there is no single entity with too much control.

The World State is also designed to be highly secure, with all transactions being verified and recorded on the blockchain. This ensures that there is no tampering with data or records, and that all transactions are secure and reliable. The blockchain technology also ensures that there is no single point of failure, which means that the state is highly resilient and can withstand any attempts at hacking or disruption.

In conclusion, the World State is a blockchain-based digital democratic state that operates on the principles of transparency, accountability, and decentralization. It is designed to be a fair and just state, with all citizens having equal voting rights and the ability to propose and vote on policies. The World State is highly secure, with all transactions being verified and recorded on the blockchain, and is designed to be resilient to any attempts at hacking or disruption. As blockchain technology continues to evolve, it is likely that we will see more digital democratic states like the World State emerge in the future.

Continue Reading


The World State Blockchain Project Launches New Features




The World State has recently launched its decentralized global digital state, which combines the principles of direct democracy and transparency within the crypto space. The TWS is a blockchain-based digital democratic state built on Polygon, and it is the first platform to offer citizens a decentralized global digital State.

This platform allows all decisions to be made through the direct voting of citizens, and it offers complete transparency in the crypto space. The TWS has been in development for over two years, and the team has accomplished several milestones in its roadmap, including the creation of the initial TWS Constitution, detailing the Laws of the new ecosystem.

The TWS Executive team has announced a series of features and platform add-ons, including NFT Passports, the release of the TWS Ecosystem driven by smart contracts, and the platform’s native token W$C. Future developments, such as the TWSswap and Mainnet, will be fueled by the platform’s internal fundraising scheme, and via taxes paid to the Treasury.

TWS blockchain’s citizenship is open to anyone, irrespective of identity, and it offers unique opportunities for its citizens. By becoming a citizen of TWS, users can create and get funds for their ambitious ideas, influence the decision-making process, vote on issues that matter, take on leadership positions, and become President. The NFT Passport confirms TWS citizenship and is a key element in the use of the ecosystem. Citizens are also able to connect with people from all over the globe, fostering greater understanding and tolerance among everyone.

Continue Reading


Ripple Partners with Blockchain Founders Fund





Ripple, a leader in enterprise blockchain and crypto solutions, has announced a strategic investment in the Blockchain Founders Fund (BFF), an early-stage venture capital fund based in Singapore. BFF focuses on top-tier Web3 startups globally, and Ripple’s investment is part of its efforts to accelerate the adoption of blockchain technology worldwide.

The funding provided by Ripple will enable BFF to support high-potential early-stage companies that are building the infrastructure and products that will streamline the transition to a decentralized future. With over 100 portfolio companies predominantly focused on the Web3 landscape, BFF has proven to be an industry-leading venture capital fund with the means and expertise to scale startups.

Brooks Entwistle, Senior Vice President, and Managing Director at Ripple, expressed his excitement for the partnership, saying, “It’s clear that blockchain technology can transform industries. We want to see startups unlock the potential of blockchain technology, and are excited to partner with Blockchain Founders Fund to accelerate startups that are creating world-class products with real-world utility for the global market.”

Through this investment, Ripple is taking a significant step towards accelerating the adoption of blockchain technology worldwide. By unlocking the potential of early-stage companies in the Web3 and crypto space, this partnership between Ripple and BFF promises to drive innovation and support web3 entrepreneurs who are shaping the future of decentralized technologies.

Ripple’s business solutions are faster, more transparent, and more cost-effective than traditional methods, solving inefficiencies that have long been the norm. With every solution, Ripple is contributing to a more sustainable global economy and planet by increasing access to inclusive and scalable financial systems while leveraging carbon-neutral blockchain technology and a green digital asset, XRP. This is how Ripple delivers on its mission to build crypto solutions for a world without economic borders.

Blockchain Founders Fund, on the other hand, is an early-stage venture capital fund that invests in top-tier Blockchain startups globally. Its industry-leading venture program focuses on go-to-market strategies and supports seasoned and first-time entrepreneurs across key business functions to fast track growth. BFF has scaled many of the leading Blockchain startups and is always looking to connect with exceptional founders across the Web3 and Blockchain ecosystems.

Continue Reading