A note from Daniel

In the exceedingly rare instances in which blockchains actually do get hacked, they almost always involve small, obscure, insecure blockchains. A successful attack can disrupt transaction processing or enable attackers to "double spend" the same money in multiple places. These attacks are known as 51 percent attacks because their conspirators must gain control of more than half a system's validators to be successful. Feeble systems, like Ethereum Classic and Bitcoin SV, have succumbed to 51 percent attacks. Successfully attacking a major blockchain, like Bitcoin or Ethereum, would, in comparison, be so prohibitively costly as to be infeasible. That hasn't stopped people from trying. There

Daniel Read Write Own, page 65 · March 1, 2024 Save to shelf
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