double-spend attack work in crypto - Check lout the entire story here

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Definition: A double-spend attack is an attempt to spend the same cryptocurrency twice by sending two conflicting transactions to the network simultaneously.

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According to the DeFi protocol, different parties, including legal enforcement officials, are currently involved in the funds’ recovery process.

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 Confirmation process: Cryptocurrencies require confirmation from multiple nodes in the network before a transaction can be considered valid and added to the blockchain.

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Race condition: A double-spend attack exploits a race condition in which a conflicting transaction is broadcasted before the original transaction is confirmed.

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Network propagation: The success of a double-spend attack depends on how quickly the conflicting transaction is propagated across the network.

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Attack vectors: Double-spend attacks can occur through various attack vectors, including 51% attacks, Finney attacks, and Vector76 attacks.

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51% attack: A 51% attack is when an attacker controls more than 50% of the network's hash rate, allowing them to control the confirmation process.

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 Finney attack: A Finney attack is when an attacker creates a conflicting transaction in advance and includes it in a block they have mined, allowing them to broadcast it immediately after the original transaction.

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