“The high-level overview of the attack is this: rather than acting as a normal miner and publishing blocks to the network immediately upon finding them, the attacker selectively publishes blocks, sometimes sacrificing his own revenue but also often publishing many blocks all at once and thus forcing the rest of the network to discard blocks and lose revenue. This does reduce the attacker’s revenue in the short term, but it reduces everyone else’s revenue even more, so neutral nodes now have the incentive to join the attacker’s coalition to increase their own revenue. Eventually, the attacker’s coalition would expand to above 50% in size.”

http://bitcoinmagazine.com/7953/selfish-mining-a-25-attack-against-the-bitcoin-network/

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