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1) If a big crypto-community notices an attack, the cost of a 51% attack would rise 2) There are mechanisms to offer smaller cryptocurrencies Bitcoin level sec
by skitout 7y ago
1) If a big crypto-community notices an attack, the cost of a 51% attack would rise
2) There are mechanisms to offer smaller cryptocurrencies Bitcoin level security, like Komodo's Delayed Proof of Work (https://komodoplatform.com/security-delayed-proof-of-work-dpow/ https://komodoplatform.com/security-delayed-proof-of-work-dp...)
- billions 7y agoThe number of transactions that can be altered from a sustained 51% attack would be so few and recent (last 10 minutes) in comparison to cost that it makes it not worth it
- WAHa_06x36 7y agoThere are many more ways to make money off a 51% attack than just altering transactions.
- WAHa_06x36 7y ago> If a big crypto-community notices an attack, the cost of a 51% attack would rise Would it though, really? Why? On the contrary, someone performing a 51% attack can and will freeze out all other miners, leaving them operating at a pure loss. If the attacker manages to keep up the attack, he will be able to bankrupt the competing miners, forcing them to turn off their hash power, and thus lowering the cost for himself.