4 ms·
This has happened in the past, see http://arstechnica.com/security/2014/06/after-reaching-51-network-power-bitcoin-mining-pool-says-trust-us/ http://arstechnica
by bleuarff 10y ago
This has happened in the past, see http://arstechnica.com/security/2014/06/after-reaching-51-network-power-bitcoin-mining-pool-says-trust-us/ http://arstechnica.com/security/2014/06/after-reaching-51-ne... .
I agree the required power must have grown since 2014. But not knowing by which factor, one can only assume it's still feasible.
I can't find any source for it, but I remember reading not so long ago that 2 or 3 mining pools were responsible for 2/3 of the total bitcoin mining power. That's not something in favor of trusting the blockain as infallible.
- heliumcraft 10y agoit has increased by a factor of ~153x https://blockchain.info/charts/hash-rate?timespan=all https://blockchain.info/charts/hash-rate?timespan=all 2014 -> 10,436 TH/s 2016 -> 1,536,337 TH/s
- bleuarff 10y agoThe attack was in june, when it was ~ 100K TH/s rather than 10K. The factor becomes ~15x instead of 150x. But I must admit I don't know if that makes such an attack still feasible.