UltraSoundMoney data on May 20th shows that two million ethereum (ETH), worth Nearly $3.6 billion, ready to bet for more beef up Ethereum network protection.
Enough ETH to ‘51% attackBitcoin
These huge reserves have inspired fantastic hypotheses, including the possibility of using This is the stock of Ethereum to carry around out 51% assault on bitcoin network.
hypotheses also centric on Prospect of the reserve he was accustomed to purchase more bitcoin (BTC).
Because ethereum and bitcoin use Separate blockchain and different consensus procedures, it is not possible for the two networks to interact directlymake attack Theoretically impossible.
However, the monetary value represented by the accumulated Ethereum can be used purchase the required amount of bitcoin to carry out Maybe such abuse.
some light in what is 51% attack
To provide some background, 51% of assault is possession by a person or organization of controls over 50% of Blockchain network mining power or retail rate. Outside of This, the attacker can modify transactions and shares in double Spending and undermining the network’s trustworthiness and reliability.
Even if this kind of attack can carry out against based on the blockchain on guide-of-workdid that in practice He is more complicated. acquisition of big size of bitcoin to acquire The majority will take control cause a big spike in the price of bitcoin due to increase demand.
this price will increase need until more resources, making it more It is difficult to assault in that it current Form. In addition, the technology behind blockchain based on ideals of Openness, security and trust.
So, assault of 51% of the network’s total Resources go directly against these values. It would greatly negatively affect network’s reputation And, as a resultthat it total worth.
based on on This, despite a huge stock of ETH ready to be hoarded on Ethereum proof-ofTake the beacon chain, possibility of using to launch a hypothetical attack 51% on bitcoin remains Totally my guess which is very unlikely.
