Breaking Down of 51% Double Spend Attack (DSA) in Blockchain Technology

Abstract

Today the emerging trend and innovative technology is block chain technology. The actual question is how to manage this. The basic concept behind this is mining. Block chain is equal to governance. It is basic type of governance. It governs a book called ledger which contains information. Here we focus on double spend attack in block chain. The attackers has a space to block the new transactions from gaining access to acknowledgements. They make half payments between some or all users. It is even possible to reverse transactions when using the network or holding the complete control of the network thus spending the coins twice which means double spend coins. This attack always exist as a thread and users are panic about their transactions being used by a corrupted miner. The solution for this malicious mining is Proof of Work (PoW) which is proved to be not sufficiently decentralized or secure. So here we are focusing on Proof of Stake (PoS) concept which is a response to the treat of centralization.