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Coin Metrics put the price of the assault at 51% on the Bitcoin and Ethereum networks

Analysts at Coin Metrics calculated, how a lot will the so-called 51% assault on the Bitcoin and Ethereum community value potential attackers. According to the evaluation, we're speaking about tens of billions of dollars.

A 51% assault is a felony raid on a blockchain the place hackers management greater than half (51%) of the stake or hash energy. This makes it doable to rewrite the transaction historical past or forestall their completion, block validator rewards and obtain double cost for tokens.

Experts calculated that within the occasion of an assault on the Bitcoin community, attackers would wish to have a hash price that might be supplied by 7 million ASICs. Analysts say that buying this quantity of apparatus will value them $20 billion.

The report signifies that the market as a complete doesn't comprise such numerous mining rigs. Experts stated that even within the case of underground manufacturing of Bitmain AntMiner S9 analogues, regulators will want a number of time and an quantity exceeding the talked about $20 billion.

As for the Ethereum community, raiding it is going to be costlier. The report notes that considerations concerning the theoretical assault on 34% of mortgaged property by auditors are misplaced.

Analysts say that such a course of would require a number of money and time.

“We estimate that an attack on Ethereum will take 6 months due to the outflow limit, which does not allow us to publish everything at once,” stated Lucas Nuzzi, Coin Metrics professional.

Meanwhile, the price of finishing up the assault would value greater than $34 billion, the doc says. In addition, attackers must handle 200 nodes concurrently, which tremendously complicates the coordination of actions, firm representatives confirmed.

Analysts concluded that with the present capitalization of property and potential working prices, not even total nations might afford to hold out such assaults.

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