- Research shows it has become economically unfeasible to carry out a BFT attack on Bitcoin and Ethereum.
- It would cost an attacker $20 billion to produce the number of ASIC mining units needed to control Bitcoin.
- As of December 2023, it would have cost an estimated $34.39 billion to carry out a 34% attack on Ethereum.
According to recent research, it has become economically unfeasible to carry out a Byzantine Fault Tolerance (BFT) attack on Bitcoin and Ethereum. Hence, anyone attempting to take over control of any of the two blockchain networks would be doing so at a loss.
An original hypothesis on the possibility of taking over the Bitcoin and Ethereum blockchain networks suggests that any user controlling 51% of all Bitcoin nodes could dictate the network’s operations. Similarly, with a 34% attack, a user can manipulate the consensus of the Ethereum ledger.
Notably featured in the research report is that the cost of executing such attacks on the Bitcoin or Ethereum network outweighs any potential economic gains. For instance, it would cost an attacker $20 billion to produce the number of ASIC …
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