CANADA BANK CONCLUDES THAT BITCOIN IS PROTECTED AGAINST ATTACKS OF 51%

[Brazio]

A study developed by Bank of Canada staff determined that Bitcoin is sufficiently protected against 51% attacks or double spending. The 19-page document highlights that the Work Test (PoW) and the incentives of the network are considered as its main strengths.

The report, called as "Blockchain compatibility incentive", which has been written by Jonathan Chiu and Thorsten Koeppl, highlights the benefits offered by the protocol that uses Bitcoin, whose objective is to choose who mines the next block in a random and safe way through the Work Test that protects the network. The study suggests that the current system is even better than other proposed systems.

On the work of the miners and the processing capacity of the equipment used in mining, the report explains the following:

The bank also takes a tour of the confirmation of transactions as an additional step that makes it difficult for anyone to alter the history of receiving and sending cryptocurrencies, or trying to complete a double expense.

Did you like this article? Don’t forget to follow buenoscoin on instagram to stay up to date with all the news of the cryptoworld.

Want to BUY BUENOS COIN? Check out Buenos.io for more info.

[Bobcrypto]

I also think it could have been greater than 51% ratio, but all the same, it a good analysis of Bitcoin security protection for everyone. This article is good and like to look at details. Thank you

[CryptoZenWorld]

That's a super news for bitcoin. But it would be better if you provide the news link. If you provide source link it will help us to trust more.

Thanks.

[luvr1000]

if such news were published once a week, then the bitcoin price would grow, as this is a good news background

[damsix]

my hope must be more than 51%, because the Bank certainly has the financial power to create security and that is no doubt.

[husanchaika]

A study developed by Bank of Canada staff determined that Bitcoin is sufficiently protected against 51% attacks or double spending. The 19-page document highlights that the Work Test (PoW) and the incentives of the network are considered as its main strengths.

The report, called as "Blockchain compatibility incentive", which has been written by Jonathan Chiu and Thorsten Koeppl, highlights the benefits offered by the protocol that uses Bitcoin, whose objective is to choose who mines the next block in a random and safe way through the Work Test that protects the network. The study suggests that the current system is even better than other proposed systems.

On the work of the miners and the processing capacity of the equipment used in mining, the report explains the following:

The bank also takes a tour of the confirmation of transactions as an additional step that makes it difficult for anyone to alter the history of receiving and sending cryptocurrencies, or trying to complete a double expense.

Did you like this article? Don’t forget to follow buenoscoin on instagram to stay up to date with all the news of the cryptoworld.

Want to BUY BUENOS COIN? Check out Buenos.io for more info.

yes, that's right
Bitcoin protocol is very strong and masternode is powerful
It is almost and very probable that it can't be broken inside with 51% attack.