A majority attack where an individual or group controls more than half of the blockchain's mining power.

A 51% attack happens when a malicious actor gains control of a network's mining mechanism and is able to override the consensus algorithm that secures the blockchain.

The attacker may be an individual or a group of malicious miners working together. With a greater mining speed than everyone else, they are able to delay or stop other transactions from being confirmed.

A person or organization with more than 50% control of a blockchain's mining power is able establish a mining monopoly because they have the power to stall or disable other miners from mining.

The higher the proportion of the hash power held by the malicious agents, the greater the risks to the network. They can delay or alter transaction records, disrupt the network, reduce miner rewards, and reduce trust in the blockchain.

In economics, a concept that describes one party's ability to produce a good or service with greater efficiency than another party.

Absolute Advantage is an economic term propounded by Adam Smith in the context of international trade. The concept underpins the idea that a party (an individual, organization or country) should specialize in the goods or services for which they exhibit absolute advantage over the competition.

An entity can attain absolute advantage by spending less per unit on production, making the process more efficient, or decreasing the number of inputs.

Zero-knowledge Succinct Non-Interactive Argument of Knowledge is an efficient and applicable Zero-knowledge proof with the fastest validation and a one-time action between the prover and the verifier.

Zk-Snarks verifies the prover's message within milliseconds with just a few hundred bytes thereby preventing prolonged interaction. The prover sends information known only to them and it becomes verified within the shortest time possible by the verifier who cannot access the information.

With Zk-Snarks, cryptocurrency security is enhanced and issues of privacy are prioritized because it ensures transparency and makes transactions on blockchain technology traceable.

51% Attack

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