Braiins' BTCGandalf calculated how much it costs to 51% attack Bitcoin $BTC w/ BraiinsMining
Bitcoin , the largest blockchain by capitalization and hashrate, is often referred to as the most secure decentralized system ever. Here is why it is almost impossible to 51% attack it.Anonymous mining expert and marketing officer of Braiins Pool who goes by @BTCGandalf on Twitter has shared his calculations of the cost of a 51% attack on Bitcoin .While theoretically this is possible, in practice it would be almost impossible for one entity to control that much hashrate simultaneously.
This pricing model is based on the estimations of the SHA256 hashrate cost provided by the NiceHash platform. However, in real world, should this attack be initiated, hashrate metrics would spike, making it even more expensive.Besides costly hardware, a hypothetical 51% attack on the Bitcoin network will also require a monstrous amount of electricity supply.As covered by U.Today previously, in 2014, GHash.
As per data provided by BTC.com, Foundry USA, F2Pool, Antpool, Binance Pool and ViaBTC are responsible for over 80% of Bitcoin network hashrate.
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