A 51% attack is a potential threat to blockchains when an attacker gains control over the majority of computational power or stakes. Recently, developer Justin Drake compared the costs of such an attack for $BTC and Ethereum. According to his estimates, an attack on Bitcoin would cost around $10 billion due to the enormous hash rate of the PoW network. In contrast, for Ethereum, which operates on PoS, this amount reaches $44.8 billion due to the large amount of staked $ETH and price volatility.
These figures highlight that Ethereum has a higher level of security due to economic barriers for attackers. At the same time, Bitcoin remains the most reliable PoW blockchain, but its attack is theoretically cheaper. Both networks demonstrate resilience to similar threats, but Ethereum's PoS mechanism provides additional protection.
The economic unprofitability of 51% attacks for large blockchains is likely to deter malicious actors. However, smaller networks remain vulnerable. Keep up with mining news to stay informed about blockchain security!
#CryptoSecurity #bitcoin #Ethereum #blockchain #PoS #PoW #51Attack #MiningUpdates
Subscribe to #MiningUpdates for the latest news!
