When the majority of the mining hash rate on a proof of work (PoW) blockchain is run by a single entity, group of people, or mining pool, then a 51% attack is possible. In this scenario, an attack on the blockchain is possible whereby the group with 51% (or more) of the mining power can interfere with mining, stop transactions, change transactions, and even double-spend coins. Proof of work blockchains, including Bitcoin, Litecoin, and Ethereum, are all susceptible to this type of attack. Small altcoins with low mining hash are especially vulnerable to 51% attacks.
NFT Term
51% Attack
Definition of 51% Attack from the NFTguild.com glossary.
