Learn Crypto with Bit.Fan Academy
From beginner to advanced — master exchanges, wallets and blockchain essentials
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What Is a 51% Attack? Meaning, Cost, and Examples
A 51% attack happens when a single person or group controls over half of a blockchain network’s computing power. With this level of control, they can block transactions, reverse them, and even double-spend coins. It represents a big threat to the security and trust of decentralized systems. While larger networks like Bitcoin and Ethereum are better protected due to widespread mining power, smaller blockchains with fewer participants face a greater risk. Key Takeaways Both Proof-of-Work (PoW) and Proof-of-Stake (PoS) blockchains can be vulnerable to 51% attacks, but the attack method differs for each system. Successful 51% attacks enable attackers to reverse transactions and double-spend coins, which can damage trust in the network. The cost of a 51% attack varies widely; it’s generally too expensive on large networks but feasible on smaller or newer blockchains. Preventing 51% attacks often involves enhancing network decentralization, security protocols, and community participation. Real-world examples like the Bitcoin Gold and Ethereum Classic attacks illustrate the potential consequences for crypto prices and security.
What Is Spot Trading in Crypto?
Most people start their crypto journey with spot trading rather than advanced trading, such as futures. But what is spot trading in crypto, and how does it differ from the futures market or options? To better understand crypto spot trading, it’s helpful to understand the origin of the term. Spot trading for any tradable asset refers to its price right now, “on the spot.” However, spot trading also means instant delivery, which differs from advanced trading types like futures or options. The price of a crypto asset will likely be different in the future. The spot price refers to the right-here, right-now price rather than future price movements. In this guide, we’ll discuss ways to trade the crypto spot market and how spot trading works.
What Is a Blockchain Explorer, and How Do You Use It?
A blockchain explorer is a tool that gives you a window into a blockchain’s activity. From tracking transactions to viewing blocks, wallet addresses, and network metrics, blockchain explorers make blockchain networks transparent and accessible. These explorers let you see exactly what’s happening on the blockchain — down to the second a transaction is confirmed.
How Many Bits Are in a Bitcoin?
How many bits are in a bitcoin? It depends on what “bits” means: a computing bit has no fixed conversion, while 1 BTC = 1,000,000 bits.
Did Bitcoin’s Whitepaper Cite Bit Gold?
Bitcoin’s whitepaper did not directly cite Bit Gold, but Bit Gold is often discussed as part of the technical background behind Bitcoin.
What “A Wilson Bitcoin” Usually Means
“A Wilson bitcoin” usually points to a person, brand, or piece of content tied to Bitcoin, not a separate coin. Context matters before trust does.
Can You Win Bitcoins? Yes, but Check the Rules First
Yes, you can win bitcoins, but only if the reward is real, withdrawable, and not tied to upfront fees, fake verification, or hidden platform traps.
What Is a Bit of Bitcoin? A Simple Guide
“A bit of bitcoin” usually means a small amount of BTC. The key is understanding satoshis, minimum purchase rules, and transfer costs.
