How does the miner hash rate affect the security of a blockchain network?

1 answers

• sidecarmonkey1Oct 15, 2024 · 10 months ago
  When it comes to the security of a blockchain network, the miner hash rate is a critical factor. A higher hash rate means more miners are actively participating in the network, making it more decentralized and secure. This reduces the risk of a single entity gaining control over the network and manipulating transactions. On the other hand, a low miner hash rate increases the risk of a 51% attack, where a malicious actor gains majority control of the network's hash power. This can lead to double-spending and other security vulnerabilities. Therefore, it's important to encourage a high miner hash rate to maintain the security and trustworthiness of the blockchain network.
  678

  339