Plagiarism
user: Hardkoin

Quote from: Hardkoin on August 08, 2023, 04:02:02 PM

The USD, as an example, was previously backed by a specific amount of gold, and people could convert one into the other. President Richard Nixon in 1971 ended the gold standard in the United States.

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for example, was previously backed by a specific amount of gold, and people could convert one into the other. President Richard Nixon ended the gold standard in the United States in 1971

Source: https://www.techtarget.com/whatis/definition/fiat-money-fiat-currency

Quote from: Hardkoin on August 08, 2023, 04:02:02 PM

Well-known examples of fiat currencies include examples of fiat currencies include the US Dollar (USD), Euro (EUR), Japanese Yen (JPY), British Pound (GBP), and many others.

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Well-known examples of fiat currencies include the pound sterling, the euro and the US dollar.

Source: https://www.ig.com/sg/glossary-trading-terms/fiat-currency-definition

Quote from: salad daging on August 08, 2023, 07:28:05 PM

Quote from: Hardkoin on July 17, 2023, 05:38:52 PM

If a hacker gains enough computing power to control more than half of the total computing power on the network

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Now, suppose hackers procure enough computing power to control more than half of the total computing power in this network.

Quote from: Hardkoin on July 17, 2023, 05:38:52 PM

(POW) can solve the required cryptographic puzzles faster than other nodes.

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These hackers can now solve the cryptographic puzzle required in POW faster than the other nodes.

Quote from: Hardkoin on July 17, 2023, 05:38:52 PM

Note that this node uses special hardware and software representing the transaction verification method of the POW algorithm

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Each node uses specialized hardware and software for crypto-mining, which is the transaction validation method for the POW algorithm.

Quote from: Hardkoin on July 17, 2023, 05:38:52 PM

they can manipulate transaction history and cause twofold spending.

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They can then manipulate transaction history and cause double spending.

Source: https://www.devteam.space/blog/can-blockchain-be-hacked/