Friday, 25 May 2018
Blockchains may be secure by design, but researchers continue to show that the same is not true for the thousands of motley cryptocurrencies based on the technology. Husam Abboud, a cryptocurrency researcher at FECAP University in Brazil, has demonstrated that it would take as little as $1.5 million to execute a network attack on Ethereum Classic (ETC) — with a market cap of over $2 billion — and still be in profit. If you have $55 million, you could even bankrupt the currency, making off with $1 billion in profit. The proof-of-work blockchains that use the same algorithms as larger…
This story continues at The Next Web
