3 ms·
good remark, as a 51% attack does does not let you do many things. An attack does not mean, that you can pull off anything. For example with most cryptocurrenc
by nfin 5y ago
good remark, as a 51% attack does does not let you do many things. An attack does not mean, that you can pull off anything.
For example with most cryptocurrencies even with an 51% attack you can't change "from who", "to who" (destination) and also not the "sending amount".
Requirement:
- most (or enough) people do run a validating node (and not just a SPV wallet)
=> That is why Bitcoin proponents to insist so much on keeping the main blockchain small and therefore secure (other solutions like lightning, ... can then be level 2 built on the secure layer. But without secure layer 1, you have nothing secure to begin with / built less upon... like less decentralised but more scalable solutions)
- wmf 5y agoYou can change your own transactions which is usually the idea behind 51% attacks. You could deposit coins into an exchange then rewrite that transaction.
- nfin 5y agoyes that’s why less secure (economicly game theoric wise) blockchains need longer confirmations (of course, it is also dependent of other factors like time to produce a block), as the probability of it happening with longer confirmation times decreases