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Podcast: The Peter McCormack Show
Episode: Decentralising Bitcoin Mining with Whit Gibbs - WBD426
Description: Location: London Date: Friday 19th November Project: Compass Mining Role: Founder & CEO Proof of Work is the bedrock of Bitcoin. It provides the network security but is not immune to attack. One attack vector is a collusion of miners who gain a significant amount of the hashrate could theoretically block transactions and reorganise the blockchain. This is known as a 51% attack. While this is known as a 51% attack, it would likely require significantly more than 51% of hashpower to pull off this attack. However, in 2014 GHash.io were able to attain 55% of the...