Bitcoin is trusted by governments and financial institutions. Reputable investors call it “digital gold,” and some even claim it’s better than gold. Notwithstanding all these, Bitcoin is still facing various security threats. Lately, a lot has been said about the potential threat from quantum computers. However, Duke University Professor Campbell Harvey revealed another concern, namely the relative cheapness of a 51% attack on the Bitcoin network. Summary If successful, a 51% attack gives attackers control over the Bitcoin blockchain (or another proof-of-work-based blockchain). To achieve success, attackers must control over…
51% attack on the Bitcoin network would cost $6 billion, research reveals
