$BTC Just saw a super interesting topic, let's talk about the security of Ethereum and Bitcoin
Has everyone noticed the recent reports on Cointelegraph? It discusses the comparison of security between Bitcoin and Ethereum, especially in terms of attack costs and community mechanisms, and it seems quite insightful!
First, let's talk about Bitcoin. It is said that the cost to launch a 51% attack on Bitcoin is around 10 billion dollars. That sounds like a pretty scary number, but compared to Ethereum, this cost is much lower. Ethereum is currently using a PoS (Proof of Stake) mechanism, which is quite powerful, raising the attack cost several notches. Additionally, the Ethereum community has an incredibly robust social coordination mechanism that cannot be compared to Bitcoin's PoW (Proof of Work) mechanism.
Justin Drake articulated it very well; he mentioned that the Ethereum community can identify attackers and also punish them. It's like thereโs a 'guardian alliance' in the community, and if someone tries to cause destruction, they will be immediately exposed and dealt with. This mechanism makes Ethereum's security depend not only on technology but also on the community's cohesion and action, which feels particularly reliable.
Matan Sitbon, the founder of blockchain interoperability developer Lightblocks, also mentioned that Ethereum's security is multi-dimensional. Cryptography and protocol rules are the foundation, but the community's strong social and economic coordination mechanisms are the real 'moat'. This mechanism allows Ethereum to react quickly and unite against attacks, rather than relying solely on technology to withstand them.
To be honest, I used to think that the security of blockchain mainly depended on technology. Now I realize that the power of the community is the true ace up the sleeve. Ethereum's model feels like it's setting a good precedent for the blockchain world, making everyone realize that no matter how strong the technology is, without the support and coordination of the community, it is still quite difficult to achieve true security.
What does everyone think about this topic? Do you also find Ethereum's mechanism pretty impressive? Feel free to join the conversation and discuss the future of blockchain together! $BTC $ETH $BGB $SOL $XRP $DOGE $PEPE $TRUMP $SUI $PROMPT $PNUT $VIRTUAL $X $WIF $MUBARAK $FARTCOIN $ADA $TRX $LTC #BinancePizza $BTC
