Here’s how much it costs to launch a 51% attack on PoW cryptocurrencies

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Here’s how much it costs to launch a 51% attack on PoW cryptocurrencies
By Neer Varshney


Repeated 51 percent attacks on proof-of-work (PoW) cryptocurrencies have triggered a critical dialogue about the security of blockchain networks. Last week, a researcher showed that a cryptocurrency worth $2 billion can be hacked profitably with as little as $1.5 million. One cryptocurrency enthusiast decided to take a deeper dive. Reddit user xur17 has created crypto51.app, a website that tracks the costs of performing hourly 51 percent attacks on PoW cryptocurrencies. The results are startling. As per the website calculations, it will only take $2,990 to keep an attack going on Bitcoin Gold for one hour, $2,216 on Ethereum Classic, $1,124…

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May 30, 2018 at 10:08PM
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