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The Block – 51% Attacks on smaller networks
by Henrik Andersson
51% attack refers to an attack on a blockchain by a group of miners controlling more than 50% of the network’s mining hashrate, or computing power. The attackers would be able to prevent new transactions from gaining confirmations, allowing them to halt payments between some or all users. They would also be able to reverse transactions that were completed while they were in control of the network, meaning they could double-spend coins.
This is happening on smaller networks. Be careful. Chief Investment Officer Henrik Andersson shares his thoughts.
Watch here: https://www.youtube.com/watch?v=ZDO1FcYhDl4&t=1s
Henrik Andersson
Henrik is the Chief Investment Officer at Apollo Crypto and is the fund manager for the Apollo Crypto Fund. He also acts as the fund advisor for the offshore Apollo Crypto investments funds, the Apollo Crypto Frontier Fund and the Apollo Crypto Market Neutral Fund. Henrik's expertise in traditional financial markets comes from spending a decade on Wall Street as a vice president in institutional equity sales. His exceptional understanding of DeFi comes from co-founding two successful DeFi protocols, mStable and dHEDGE.