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Re: Large pools - a threat to bitcoin network integrity?
by
Stephen Gornick
on 29/07/2011, 18:41:55 UTC
would it not be possible to hijack the blockchain by compromising the top n pools?  If an attacker was able to gain 51+ % of the bitcoin network for a 10min period (the defined time for propagation of blocks through the network) they would be able to supress a legitimate transaction and have it invalidated/stomped out.

The attacker could supress a transaction for a block that the attacker has mined, but another miner might include the transaction in a later block.  If the attacker has a lot more than 50%, the blocks by other miners could be replaced.  Here's more on the subject:
 - http://en.bitcoin.it/wiki/Weaknesses#Attacker_has_a_lot_of_computing_power