The new threat that has Bitcoin insiders nervous

The new threat that has Bitcoin insiders nervous
Bitcoin's decentralized system for processing transactions, known as mining, operates by consensus. A new block become official when a majority of the network accepts it and adds it to their own copy of the blockchain. But whereas conventional …
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Bitcoin currency could have been destroyed by '51%' attack
Bitcoin has stared down an existential threat, after a consortium of miners briefly gained enough processing power to theoretically destroy the currency. For a few hours on Friday, mining pool Ghash.io controlled 51% of all the processing power being …
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New York's The King's College becomes first in US to accept Bitcoin for tuition
Bitcoin, a digital currency system, has spread from being accepted at small businesses, such as Portland's Whiffy's Fried Pies, to educational institutions, such as King's College in New York, which announced June 13 that it would become the first …
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