Hack Bytecoin for $557: New Findings Reveal Value Of 51% Assaults – Bitcoinist.com

Hack Bytecoin for $557: New Findings Reveal Cost Of 51% Attacks - Bitcoinist.com

A brand new useful resource claims to have calculated “correct” prices for launching a 51% assault towards a number of the largest cryptocurrencies.

Hack Bytecoin for $557

51Crypto, which incorporates in its listings Bitcoin, Ethereum, Bitcoin Money, Litecoin and Monero, states the price of a one-hour 51% assault, together with how a lot of the required hashing energy an attacker might buy from a normal rental service comparable to NiceHash.

The checklist makes for daunting studying. Bytecoin, a CryptoNight coin with a market cap of just below $1 billion, may very well be 51% attacked utilizing rented energy for the equal of simply $557.

New Litecoin onerous fork Litecoin Money would require simply $515 for a one-hour assault, whereas Bitcoin would want $554,000 and Ethereum $360,000.

Bitcoin Money would want simply $72,000.

“It isn’t supposed to encourage or assist in finishing an assault, however as an alternative to get folks speaking about the issue and potential options,” a disclaimer on 51Crypto’s web site reads.

Business Caught By Shock?

The figures come roughly every week after the discharge of a devoted weblog submit about 51% assault vulnerability of cash working a Proof-of-Work (PoW) algorithm. A Brazilian researcher decided Ethereum Traditional (ETC) may very well be sabotaged for $55 million with a possible revenue of $1 billion.

Responding to 51Crypto’s listings, Litecoin creator Charlie Lee appeared shocked, noting because the Brazilian mission did that the “ease” of launching an assault is enormously elevated by rental providers eradicating overheads.

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