3 ms·
Such a 51% attack is much more expensive in Ethereum 2.0 vs. Ethereum 1.0 and Bitcoin: The cost profile of a repeated 51% attack in [Ethereum 2.0's Proof of
by spir 7y ago
Such a 51% attack is much more expensive in Ethereum 2.0 vs. Ethereum 1.0 and Bitcoin:
The cost profile of a repeated 51% attack in [Ethereum 2.0's Proof of Stake]
is as if “your ASIC farm burned down” with each additional round.” ~Vlad Zamfir
And 95% of techstars blockchain applicants are building on Ethereum
For all the fud that is doing the rounds about Ethereum...
of the hundreds of applications I receive from blockchain
startups to join @techstars, 95% are building on Ethereum.
There hasn’t been any significant shift to other chains in
what I’m seeing on a daily basis. [1]
So this kind of potential 51% attack is likely to become less relevant for blockchain applications in general. Of course Bitcoin doesn't benefit from these improvements. Bitcoin may one day even reside within Ethereum.
If you read this far and aren't familiar with the latest progress of Ethereum, consider trying out 4.95% interest rate on your money with Ethereum's Compound Finance https://app.compound.finance/asset/cUSDC https://app.compound.finance/asset/cUSDC . Here's a good article discussing the security implications of doing this with your money https://medium.com/@ameensol/what-you-should-know-before-putting-half-a-million-dai-in-compound-fafdb2645f77 https://medium.com/@ameensol/what-you-should-know-before-put...
[1] https://twitter.com/yossihasson/status/1169571179650322433 https://twitter.com/yossihasson/status/1169571179650322433