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We Are Programmers Across The World We're Developing Some Useful Projects Together. Wish You Get Good Time With Us! Group @Neural_Group

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How does someone reverse a blockchain transaction? You can reverse a transaction by essentially rendering it obsolete. This entails creating a new chain that doesn’t include the previously recorded transaction you’d like to “reverse.” In doing this, you can end up “spending” the same coins twice. This is why people also refer to a 51 percent attack as a “double spend attack.” Coinbase’s blog post on the recent Ethereum Classic attack has a clear explanation of how this works. Paraphrasing it here, a miner or miners (let’s call her person A) with 51 percent control of a network could send person B coins while secretively starting a new, alternative block record. In that new record, person A would include a transaction with the same coins she “sent” to person B. Person A can then build off that new record, adding more blocks until it becomes the longest chain. This makes it the new canonical chain and renders the original transaction between person A and person B invalid, since those same coins now exist in a canonically valid block. Here’s a handy graphic borrowed from Coinbase security engineer Mark Nesbitt:

In the case of a dishonest buyer sending cryptocurrency to a vendor, that vendor could easily end up sending  wares to the buyer while the buyer stealthily creates that new, longest chain. The dishonest buyer gets what they paid for while invalidating the transaction that would have sent the vendor the coins it cost to buy their product

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