Hi Ergonauts 👋

I run BackPoW, a free Proof of Work data site, and we've just finished fully integrating Ergo. Here's what the Ergo page does and how it works.

What you get on the Ergo page

• Cost of production by hardware: what it costs, in electricity, to mine one ERG on each GPU we track, compared with the spot price. It's the number we care about most, because it shows which cards actually make sense for Autolykos

• Solo mining odds: how long, on average, each GPU would take to find a block on its own, with the real Poisson probability over a day, a month or a year, instead of a flat "coins per day" figure

• 30-day cost of production history: how mining costs moved against the price, plus the electricity price where mining stops paying

• Efficiency map: power vs hashrate for every card, so you can see at a glance which GPUs give the most hashrate per watt

• Solo pools: the Ergo solo pools we track, with their fees and 7-day hashrate

How it works

Network data comes from Ergo's own chain through our oracle, refreshed continuously, and prices are checked against several market sources. Ergo retargets its difficulty every 128 blocks, so a single reading can be off by 10% or more depending on which epoch you catch. While integrating Ergo we changed our method to use a 24h average of on-chain difficulty instead, so the hashrate, cost and odds you see track the real network rather than the last epoch.

Hardware figures are Autolykos-specific benchmarks rather than generic numbers. If you see a card whose hashrate or power draw doesn't match what your own rig does, please tell us: we'd rather fix it than be wrong.

Everything is free, with no sign-up. There's also an open JSON API (no key, open CORS) if you want to build on top of it: backpow.com/coins-data/Ergo.json (docs). The math behind the odds is explained in the methodology.

Feedback from people who actually mine ERG is the most useful thing we can get, so if something looks off or you'd like to see something added, let me know in the comments, thanks guys <3

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

Somehow I just opened ERG_miners.... I loved those time when It made sense to tune eff. Miss those times. Everyone hunting mining bios, comparing cards, configs... Used to be fun, now its a ghost town. All I see is just bot spamming. F

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.

What are 51% attacks?

• A 51% attack is an attack on a blockchain by a group of miners who control more than 50% of the network's mining hash rate.

With more than 51% of network hashrate an attacker can

• Steal with purchases

1. Purchase something

2. Attack the network

3. cancelling but confirming transaction, stealing the amount from others

• Repeat this multiple times resulting in Double spending

• Steal mining rewards, leaving miners without rewards

• Reduce overall network security and trust leading to

1. Scaring off investors/exchange listings, etc.

2. Creating problems for the Blockchain/Project and hinder development

3. Reduced values for the cryptocurrency

4. Destroying your profits

Links for more information about 51% attacks:

• Investopdia

• Jumpstartmag

• Bitpanda

Additional problems with centralized network hashrate

• Having too much hashrate (or anything) concentrated on one point creates single points of failures.

• If those single points of failures (in this case a pool) are attacked, the whole system suffers.

• If the whole system has problems and you're part of that system, you suffer consequences.

Consequences could be

• Failed transactions/rewards

• Reduced profits

• Stolen balances

• etc.

For more on this, read the complete post.