Attacks on Bitcoin and Ethereum now 'economically unfeasible': research
Quick Take According to a research report, the theoretical costs associated with successfully attacking Bitcoin or Ethereum far outweigh the benefits.
The current security models for Bitcoin BTC -0.25% and Ethereum ETH +1.38% make 51% and 34% attacks, respectively, “economically unfeasible,” according to a new research paper published on Feb. 15.
A 51% attack is an attempt by an entity to gain control of more than half of a blockchain’s mining hash rate, theoretically allowing it to alter the distributed public ledger maliciously. Similarly, a 34% attack attempts to manipulate the consensus of the ledger (in proof-of-stake or BFT networks) to approve or disapprove specific transactions by acquiring network stake.
According to the researchers, it would have cost an estimated $34.39 billion to 34% attack the Ethereum network on Dec. 31, 2023 — when ether was priced at $2,279 per coin — and it would take until June 14, 2024, for the attacker to successfully gain the required control over the network.
In the case of Bitcoin, different scenarios prove similarly unfeasible. For example, it would cost an attacker more than $20 billion to produce the number of ASIC mining units needed to gain majority control over the foremost blockchain’s hash rate — an impossibility due to limited microprocessor availability.
Alternatively, an attacker would need to collude with hardware manufacturers — an unlikely scenario that would also run into supply-chain issues.
Electricity costs to run the mass amount of machines would also prove prohibitive.
The findings lead the researchers to conclude that "the security of Bitcoin and Ethereum has evolved to a point where the costs and risks associated with attacks far outweigh any potential benefits."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
"OSL Bets Big on Asia’s Crypto Future—Even as Losses Grow"
- OSL Group reported 58% YoY revenue growth to HK$195.4M in H1 2025, despite operating losses doubling to HK$20.3M driven by 225% headcount expansion. - Strategic acquisitions of Japan's CoinBest and Indonesia's Evergreen Crest, plus OSL Pay's 29% revenue contribution, fueled Asian market expansion. - A $300M equity raise supports regulated stablecoin infrastructure and compliance with Hong Kong's evolving digital asset policies. - Despite losses, shares rose 6.6% post-earnings, reflecting investor confide
Bitcoin News Today: Bitcoin Miners, Trump Ties, and a Nasdaq Gamble: ABTC's Bold Bet
- Gryphon shareholders approved a $1.2B merger with Trump-linked American Bitcoin, creating ABTC for Nasdaq listing. - The reverse merger combines Gryphon's 130,000+ Bitcoin miners with American Bitcoin's SPAC structure to bypass traditional IPO. - ABTC aims to leverage Gryphon's low-cost energy agreements and expand mining capacity by 50,000 machines in 18 months. - Analysts highlight institutional Bitcoin interest potential, but success depends on U.S. regulatory clarity and market conditions.
Hong Kong's Institutional Crypto Adoption: LineKong’s $7.85M Move as a Catalyst for Regional Growth
- LineKong’s $7.85M investment in BTC, ETH, and SOL marks Hong Kong’s institutional crypto adoption turning point. - Hong Kong’s Stablecoins Ordinance and LEAP Framework create regulatory clarity, bridging China and global crypto markets. - The move signals digital assets as strategic hedges against inflation and geopolitical risks in Asia’s fragmented markets. - Solana’s allocation highlights institutional diversification trends, with 59% of global firms planning crypto allocations in 2025. - Hong Kong’s
On-site at the Hong Kong Bitcoin Asia Conference: RWA will give rise to a quadrillion-dollar market and potentially create 100 super giants
Hong Kong dollar stablecoins may have greater potential than US dollar stablecoins.
Trending news
MoreCrypto prices
More
