Plagiarism
user:
HardkoinThe 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.
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-currencyWell-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.
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-definitionIf a hacker gains enough computing power to control more than half of the total computing power on the network
Now, suppose hackers procure enough computing power to control more than half of the total computing power in this network.
(POW) can solve the required cryptographic puzzles faster than other nodes.
These hackers can now solve the cryptographic puzzle required in POW faster than the other nodes.
Note that this node uses special hardware and software representing the transaction verification method of the POW algorithm
Each node uses specialized hardware and software for crypto-mining, which is the transaction validation method for the POW algorithm.
they can manipulate transaction history and cause twofold spending.
They can then manipulate transaction history and cause double spending.
Source:
https://www.devteam.space/blog/can-blockchain-be-hacked/