{"id":719,"date":"2018-05-29T08:06:41","date_gmt":"2018-05-29T08:06:41","guid":{"rendered":"https:\/\/blockchain-society.science\/?p=719"},"modified":"2018-05-29T08:06:41","modified_gmt":"2018-05-29T08:06:41","slug":"51-percent-attacks-hacking-a-2-billion-dollar-cryptocurrency-for-less-than-1-5-million-bitcoinist-com","status":"publish","type":"post","link":"https:\/\/blockchain-society.science\/?p=719","title":{"rendered":"51% Percent Attacks: Hacking a $2 Billion Dollar Cryptocurrency for Less Than $1.5 Million &#8211; Bitcoinist.com"},"content":{"rendered":"<blockquote><p><a href=\"http:\/\/bitcoinist.com\/51-percent-attacks-hacking-2-billion-dollar-cryptocurrency-less-1-5-million\/\"><img src=\"https:\/\/blockchain-society.science\/wp-content\/uploads\/litho\/c65b1edf0aaf4ba56d114539f07c4dca55b69f5aa6b2f7cb86fc4c3c0c917206.png\" class=\"image-treated\" data-original=\"https:\/\/blockchain-society.science\/wp-content\/uploads\/2018\/05\/HashProfit_datacenters_Bitcoinist1.jpg\" data-treated=\"https:\/\/blockchain-society.science\/wp-content\/uploads\/litho\/c65b1edf0aaf4ba56d114539f07c4dca55b69f5aa6b2f7cb86fc4c3c0c917206.png\" \/><\/a>Cryptocurrency researchers from FECAP University in Brazil have shown that it would take only around $1.5 million to attack the ETC network and still pull a nice little profit. With $55 million dollars, you could effectively bankrupt the currency, netting nearly $1 billion in straight profit.If a party that controlled just 2.5% of the Ethereum hash rate switched to ETC, they\u2019d instantly control over 51% of the total network hash rate. The attack wouldn\u2019t even be absurdly expensive. It\u2019d cost what you would earn mining on the ETH network with 2.5% of the hash rate, which equates to roughly 525 ETH, or $318,000.<\/p><\/blockquote>\n<p>Source: <em><a href=\"http:\/\/bitcoinist.com\/51-percent-attacks-hacking-2-billion-dollar-cryptocurrency-less-1-5-million\/\">51% Percent Attacks: Hacking a $2 Billion Dollar Cryptocurrency for Less Than $1.5 Million &#8211; Bitcoinist.com<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency researchers from FECAP University in Brazil have shown that it would take only around $1.5 million to attack the ETC network and still pull a nice little profit. With $55 million dollars, you could effectively bankrupt the currency, netting nearly $1 billion in straight profit.If a party that controlled just 2.5% of the Ethereum [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[19,8,18,20,27,26,5],"tags":[],"_links":{"self":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts\/719"}],"collection":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=719"}],"version-history":[{"count":1,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts\/719\/revisions"}],"predecessor-version":[{"id":721,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=\/wp\/v2\/posts\/719\/revisions\/721"}],"wp:attachment":[{"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blockchain-society.science\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}