id author title date pages extension mime words sentences flesch summary cache txt www-theguardian-com-2093 Bitcoin currency could have been destroyed by '51%' attack | Bitcoin | The Guardian .html text/html 1214 118 71 Bitcoin currency could have been destroyed by '51%' attack | Bitcoin | The Guardian For a few hours on Friday, mining pool Ghash.io controlled 51% of all the processing power being used to perform the calculations that keep bitcoin secure. "The high level of combined hash power in the Ghash pool is concerning to many participants in the system," said one such member, BitFury, an industrial bitcoin mining firm. Miners are given financial rewards for doing so, and since there are so many of them, it is typically impossible to force a fake transaction into the bitcoin ledger: more than half the processing power of the network would need to verify the fake transaction. The 51% attack is the first headline news to happen to bitcoin in a long time, but even as the media grows tired of the currency, development continues. ./cache/www-theguardian-com-2093.html ./txt/www-theguardian-com-2093.txt