A 51% attack occurs when a single malicious individual or organization gains over 50% control of a blockchain network's hashing power, potentially causing disruption. This can result in the manipulation of transaction confirmations, transaction denial of service, and mining monopolies. The attacker can commit malicious acts such as double spending, reverse transactions, or manipulate token supply.
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Announcement on the updated withdrawal exchanges supported by Hashkey Global
Dear HashKey Global clients,
As the world's leading licensed virtual asset exchange, Hashkey Global is committed to protecting the security of customers' funds and complying with international anti-money laundering (AML) policies and the Travel Rule established by the Financial Action Task Force (FATF).
Based on this, the latest list of withdrawal exchanges we support is as follows:
- Binance
- Binance India
- OKX
- Bybit
- Bitget
- Hashkey Exchange
- Coinone
- HTX
- Korbit
- LBank
While ensuring the security of funds, we will continue to expand deposit and withdrawal channels to further enhance your deposit and withdrawal experience and transaction convenience.
Thank you for your continued support to HashKey Global!
HashKey Global Team
Double Spend
Double Spend is a potential issue in digital currencies where the same tokens in a wallet are spent more than once. Blockchains use consensus mechanisms like Proof-of-Work or Proof-of-Stake to prevent double spending by requiring nodes to validate transactions before adding them to the ledger. This prevents users from spending the same tokens twice. Double spending can occur as a result of a 51% attack.
HashKey Global Team
Gas Price
Gas price is a fee paid to validators for verifying transactions on blockchain networks like Ethereum. The term “Gas” is a measure of the computational work needed to process transactions and smart contracts on the network. Complex smart contracts need more gas to execute. Ethereum and Polygon use the term "gas fees," while the Bitcoin blockchain use "transaction fees" or “miner fees”. On Ethereum, gas fees are in Gwei, a unit of its cryptocurrency Ether.
HashKey Global Team
Hard Fork
A hard fork is a permanent divergence in a blockchain, resulting from an upgrade to the underlying protocol that creates new consensus rules. This can cause non-upgraded nodes to be unable to validate blocks created by upgraded nodes. “Hard forks” are different from “soft forks”, which are software upgrades that do not result in a chain split as long as the upgrade is adopted by the majority of nodes on the network. In a hard fork of a blockchain network, miners are divided on which protocol to adopt, resulting in a split and the creation of a new chain with a new set of protocols. Holders of the old chain's cryptocurrency are granted coins from the new forked chain.