Topic: Is there a possible solution to prevent 51% attack? - page 2. (Read 592 times)
There's no need to look for solutions for preventing the 51% attack, because there's no way it is ever going to happen. If we're getting attacked it's by a different way, not this one.
Well i mean a few pools together control over 50% so all you have to do is take control of the pools. Considering majority is located in China, it seems like it's something the government could do?
If you do that, how do you prevent all the pool participants from leaving and joining a different pool?
Well i mean a few pools together control over 50% so all you have to do is take control of the pools. Considering majority is located in China, it seems like it's something the government could do?
Unless someone will patiently gather massive (billions of dollars worth) computing power offline and then suddenly in a matter of minutes start mining 51% is nearly impossible.
You don't have to. If you own a bunch of mining pools, which accounts for at least 51% of the hashrate, just start mining on your own fork immediately after the required confirmation by the merchant. You don't have to wait patiently, just control a bunch of em.Any anomalous additions to hash rate will be immediately noticed and mitigated by adding more hash power.
If anything, multiple blocks in a row isn't that rare. It's impossible to add hashrates on the fly.That will effectively rise the costs of 51% attack for the attacker up to the point either attackers reserve will be drained or collective of EVERYONE else on the network won't have enough resource to overcome computing power of an attacker no matter of how much computing power they all throw in.
The latter probably will happen. It's extremely difficult for the network to add 1% of the hashpower at a moments notice. You will definitely have to get more than 1% to eliminate any risk.It's a threat, just not one that is of a huge concern right now. The cost of executing such an attack far outweighs the cost of executing one.
So i'm just wondering whether there is a possible solution to
prevent 51% attack? Or is this the threat, that will always be there?
No. There are two human rules:prevent 51% attack? Or is this the threat, that will always be there?
1. The majority is always right
2. If the majority is not right - look rule #1
The specified question is related to everything, not only to crypto.
So, the 51-attack is not an attack, but a normal behavoiur from the point of view of majority.
So i'm just wondering whether there is a possible solution to prevent 51% attack? Or is this the threat, that will always be there?
Unless someone will patiently gather gather massive (billions of dollars worth) computing power offline and then suddenly in a matter of minutes start mining 51% is nearly impossible. Any anomalous additions to hash rate will be immediately noticed and mitigated by adding more hash power. That will effectively rise the costs of 51% attack for the attacker up to the point either attackers reserve will be drained or collective of EVERYONE else on the network won't have enough resource to overcome computing power of an attacker no matter of how much computing power they all throw in. This scenario is only possible if someone will develop insanely powerful ASIC/Quantum computer that will be orders of magnitude faster then existing hardware (and do so secretly to avoid network evolution to quantum-proof cryptography).
So i'm just wondering whether there is a possible solution to prevent 51% attack? Or is this the threat, that will always be there?
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