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Author Topic: 51% Attacks on Bitcoin and Ethereum Networks Are Not Possible Due to ...  (Read 1958 times)

Online NotATether

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While i agree with what researcher said since it's expensive to obtain tons of SHA-256 ASIC or ETH coin, they do not consider possibility of performing 51% attack by hacking BTC mining or ETH staking pool. Your opinion is greatly appreciated.

How exactly is that supposed to be possible regarding BTC?

I can understand why ETH might be vulnerable because nodes running the Proof of Stake can be hacked (as it's no longer computation doing the coin generation but the fact that people hold a lot of coins). Especially since some guys managed to hijack MEV bots to front-run/steal from a bunch of transactions. But how would people redirect BTC hash power from ASICs which cannot be customized and aren't even theirs?
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Offline ABCbits

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While i agree with what researcher said since it's expensive to obtain tons of SHA-256 ASIC or ETH coin, they do not consider possibility of performing 51% attack by hacking BTC mining or ETH staking pool. Your opinion is greatly appreciated.

How exactly is that supposed to be possible regarding BTC?

I can understand why ETH might be vulnerable because nodes running the Proof of Stake can be hacked (as it's no longer computation doing the coin generation but the fact that people hold a lot of coins). Especially since some guys managed to hijack MEV bots to front-run/steal from a bunch of transactions. But how would people redirect BTC hash power from ASICs which cannot be customized and aren't even theirs?

I think you missed my point. I was talking about hacking BTC mining pool, not the ASIC itself. On theory, hashrate redirection (to hacker's pool) isn't required, since the hacker could just make the hacked pool create block with details as he wants.
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Offline KingsDen

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When there were a few pools and many solo miners, this 51% wasn't possible. As at that time, conspiring with a few pool could get the job done, but instead miners, developers and hackers decided to go for BTC incentives which was more easier to earn rather than planning to undo the whole system which could cost alot and yet not guaranteed. So, is it now that it has become extremely difficult that the attack will happen?

I read a few days ago that a 51% attack on the Bitcoin network would require 20 billion dollars and a 51% attack on the Ethereum network would require 34 billion dollars.
Why should Ethereum requirements be greater than that of BTC when BTC is higher in price, cap, vol and also uses the POS?
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