Author: Karl 2021-05-25 00:55:34
Published on: 2021-05-25T00:55:34+00:00
The PoW algorithm used by Bitcoin could potentially be changed to make purchased ASIC mining equipment unusable, which would deter a multibillionaire attack and temporarily reduce energy usage without compromising security. However, a 51% attack can still impact some parts of chain operations. The biggest vulnerabilities for Bitcoin are covert compromise of mining pool operations or widespread compromise of networked mining systems and client nodes, which is far easier than outcompeting the mining network with hardware.In addition, it is possible for a government to compromise their nation's mining farms without making it public. Governments have skilled operatives who can carry out such actions. While people may suspect that it happened, the government can cover up these suspicions with more powerful stories.
Updated on: 2023-06-14T22:07:00.866618+00:00