If an organisation wanted to run their own private blockchain/ERC20 to facilitate some global business process. How much computational power would they actually need to support the network? Is it dependent on transaction volume? Is there a minimum viable level? How many nodes would be required to provide reasonable assurance that a 51% attack couldn't be achieved?
I'm not coming at this from a monetised token, purely from a business performance perspective.
Any and all advice or opinion or guidance on incorrect assumptions or understanding i've made would be welcome.
Cheers,
PJ
If they would want to lunch private blockchain then they would have issue of 51%. As I understood you- you are referring to some organization having their own private blockchain? If this is the case then theres nothing much to talk about and maybe even blockchain is not necessary in that situation since only 1 organization will provide mining power and nodes.
2 nodes are minimum for network to operate, you can have 1 million nodes and one of them is enogh for 51%, it is not based on nodes, it is a problem of computational power of particular miner. 51% is simply when one person ( or pool of miners) have more than 51% of all computational power in the network.
Computational power depends of computational power of whole miners at particular time, this is why I am unable to provide you with clear numbers. As I am aware you can run a blockchain with even 1hasing power, tho finding blocks will take long time. Difficulty is also adjustable and it moves depending on the hashing power.
ERC20 is a token on ethereum network and thus has nothing to do with private blockchain. ERC20 tokens are issued via ethereum blockchain which means that if there's an 51% attack on ethereum it automatically is an attack of ERC20 tokens blockchain since it is run by ethereum. Your blockchain will be public if you use ERC20 because ethereum is public, it's not private blockchain.
