What is Race Attack?
Ace quick missions & earn crypto rewards while gaining real-world Web3 skills. Participate Now ! 🔥
Let's find out Race Attack meaning, definition in crypto, what is Race Attack, and all other detailed facts.
The race attack is a particular kind of a double-spend attempt. It requires the recipient to accept payment for unconfirmed transactions.
The attacker sends the victim an unconfirmed transaction. Meanwhile, they broadcast to the network a conflicting transaction. Since the victim observed their own transaction first, they believe they will be paid. However, since the rest of the network saw the double-spend first, it’s likely that the victim will not get the money.
Such an attack is significantly easier to carry out when the attacker has a direct connection to the victim's node and deposits the conflicting transaction directly to the miners.