The 51% attack is a fallacy put out to make people rest easy at night.
How can I boldly say this?"
The 51% attack is a fallacy put out to make people rest easy at night.
How can I boldly say this?
Because it assumes that no partitions of the blockchain or network is possible - a total fantasy in the real world!
With partitioning, segmentation (covert control of one or more regions of a network or blockchain), becomes a cakewalk for blackhatters.
It only takes one partition to split the network into two segments. If the attacker cannot gain control of one segment, he attacks the weaker segment and makes another partition and so on.
If you're already confused, don't fret. Most high level government officials are in the same boat.
China's firewall becomes hack-proof and successfully partitions the world's BTC blockchain into two segments.
China successfully "turns" (gains control of) a tiny, 1% segment of the opposing partition.
Then it's game over, nighty-night, end of story!
[C (control) = > 1/3 * 1 (bad actor) can render ANY network (blockchain) useless.]
By JaiChai
JaiChai 12-22-2020. Simultaneous multi-site submissions posted. All rights reserved.
