this post was submitted on 13 Nov 2024
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Can’t you takeover a blockchain by owning the majority of a block chain, or by having a majority of the processing power to compute hashes?
If you had 51% of the world's computing power (to blockchains using proof of work) yes you could forge records, from what I could wrap my head around about blockchains.
You don't need 51% of the world's power though, just 51% of the power of people who care about how the system works. Most people using block chain cryptos don't care at all, so the threshold is a tiny percentage of the user base.
Yeah you're right. I was thinking specifically Bitcoin and the astronomical amount of compute power that's behind it.