Bitcoin's blockchain ledger has been 10 years working as intended without any interruptions. With a high hashrate and number of nodes available in the network, it becomes harder for any external entity to disrupt the entire system. This has given Bitcoin a level of "immutability" as transactions made on the Blockchain virtually stay there forever. However, that "immutability" may be broken at any point in time if miners come into consensus to revert back transactions (like it happened with Ethereum's DAO hack).
Which is why, I'm starting to wonder if the Blockchain's immutability is actually a myth than reality? Transaction finality has been a subject of discussion among Ethereum proponents with its PoS consensus model. Bitcoin and nearly any other major cryptocurrency known today will be facing finality issues in the event of a 51% attack. Because of this, transaction's finality would be greatly subject to the underlying cryptocurrency's network conditions. As long as miners and nodes keep the Blockchain secure without reverting transactions, everything should be fine. At least, that's what I think about it. What are your thoughts?
Topic: Blockchain Immutability: A myth? (Read 98 times)
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