Is a Multi-Layered Consensus System Able to Provide Network Resilience to 51 Percent Attacks up to 90 Percent?
Recently, we’ve seen more and more blockchain networks falling victim to a 51 percent attack. This attack is possible because thresholds can be quite low, amounting to slightly more than 50 percent of hashrate. When an attacker takes over a network, there are many ways it can be abused. For example, the attacker can perform a double spend. However, it’s more important that while the network is controlled by malicious users, its operations cannot be considered normal. Essentially, such attacks make the blockchain inoperative.
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