According to the news in TNW, a Brazilian researcher calculated that a 51% attack on a large crypto money network, which can make a profit of $ 1 billion, as a result of the findings of his latest research, will cost only $ 55 million.
<
Hussam Abboud of FECAP University in Sao Paulo used the example of Ethereum Classic (ETC) to demonstrate the hackability of cryptocurrency networks using Proof-of-Work (PoW) algorithms.
Abboud, researching “We estimate that a 51% attack on Ethereum Classic today would cost between $55 and $85 million,” its report states.
Contrasted with past assumptions
Abboud’s findings contradict previous assumptions about network attacks, such as 51%. In these assumptions, it was said that there was no point in such attacks as such attacks would be very costly and the money attacked would become worthless.
PoS algorithms can be the solution
In the last section, Abboud stated that the aim of the article is to increase awareness of this attack vector and thus ensure that necessary measures are taken to increase the security of networks.. Abboud says that one of the solutions to this problem is to use Proof-of-Stake (PoS) algorithms.. Recently, many cryptocurrencies have been exposed to this attack.
→ BITTORRENT AND UTORRENT ARE PURCHASE BY TRON’S FOUNDER JUSTIN SUN