understand! Attacking Bitcoin requires not only 51% of computing power, but also a reason to convince miners

What happens if Bitcoin is attacked by 51%? This is a hypothetical question, but it has always plagued the best talent in the community. Just as the army staged countless wars and launched doomsday scenes, Bitcoin defenders were also thinking about the situation after the decentralized cryptocurrency was attacked.

51% of attacks, also known as most attacks, refer to a single miner or a group of miners controlling most of the network computing power. Once such a situation occurs, it may lead to malicious behavior, the transaction will be reviewed or reversed, allowing the perpetrator to double-flower. One of the most important features of Bitcoin is its immunity to attacks, both at the government and technical levels. At present, the bitcoin network computing power exceeds 31 exahash, so it is basically impossible to launch a 51% attack. However, anticipating the occurrence of such situations helps to reduce the likelihood of their occurrence.

In this war game of Bitcoin, we need to do more than just role play: it is a strategic defense.

Bitcoin developer Jimmy Song has simulated several malicious mining scenarios in the article, including the threats that chip makers, ASIC manufacturers and mines may pose. He mentioned the way 51% attacked the network, but according to him, holding 51% of the computing power is not enough to control the Bitcoin network. Song said that even an attacker with 60% of computing power needs 100 minutes to confirm the block to control the entire network. At the same time, other participants in the network are aware of the current situation, and they can turn the block confirmed by the attacker into an invalid block. (Conversely, in theory, an attacker with less than 51% of computing power can also attack the Bitcoin network.)

In such cases, rational merchants and exchanges would like to see at least 30 confirmations (even if they don't know the specifics)... In addition, a large number of recombination signals received by other network participants will tell The malicious behavior in their network, the node will therefore treat the new block more carefully. The full-node operators in the network are likely to declare these blocks invalid.

Due to the huge computing power of the Bitcoin network, there is no good equipment in this game - or it is impossible to launch a 51% attack without mastering the ASIC. The only class that has the ability to launch an attack is a mining pool or ASIC manufacturer who may install backdoors to the mine and then start them. These groups typically invest a large amount of money in the bitcoin field and spend millions of dollars on the infrastructure needed to build mining competition. The premise that their operations are profitable is that Bitcoin must be maintained at a specific price line. Once the perpetrators start attacking Bitcoin, they will only cause them to kill each other.

Assuming that the Bitcoin network can be attacked by 51% (very low probability), the malicious party will start to spend billions of dollars to gather ASIC mining machines in advance to collect the settlement power. However, even Bitland is difficult to get enough ASIC mining machines to achieve this goal. Another possible scenario is that chip or ASIC manufacturers are beginning to offer significant advantages to existing miners. However, the most profitable way to start a 51% attack is to honestly mine or sell Bitcoin at a premium.

Regardless of your perspective, launching a 51% attack on the Bitcoin network is not only impossible, but also meaningless to the attacker. However, the mining process of this cryptocurrency is not vulnerable and does not mean it will not be attacked. A recent article in the MIT Technology Review mentions three ways to "destroy" bitcoin, all of which have nothing to do with mining. In the past, there were some less powerful competitors that were attacked by 51%. In the 9-year history of the Bitcoin network, it has never suffered such attacks. This has not happened in the past, and even if there is really a mine in the future that controls most of the calculations, nothing will happen.

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