Post
Topic
Board Bitcoin Discussion
Re: Can the blockchain be hacked? Ask again.
by
NotATether
on 14/09/2022, 02:30:39 UTC
A recent discussion brought up in my locale board lead me to this little striking detail from my research that holds a contrary opinion to what most know about the blockchain.
Quote
Blockchain isnt totally foolproof  there are a few ways that it can be hacked. If 51% of the network of miners, or of work done by miners, is bribed to alter the ledger, this can result in corruption and incorrectness in the ledger. Additionally, if one of the nodes of the blockchain network is disabled and it cannot communicate, it may be compromised

51% attacks cannot be carried out if there are too many miners and hashrate (or "staking" and "stake rate") on the network because then it becomes cost-prohibitive to mount one. And specifically in BTC's case, there are not enough miners in the world to buy to embark on one, and it is virtually impossible to secretly bribe mining pools to mine a rival chain since their workers would mass-leave the pool.

The "node disable attack" does not work in decentralized networks that are sufficently large, as there are no central nodes that coordinate all the other nodes.