EOS founder Dan Larimer just said that he could take down Bitcoin (BTC) and Ethereum (ETH) if he wanted.
All he reportedly needs is the help of a few mining pool operators.
According to the reports coming from the Daily Hodl he didn’t want to provide more details on how such an attack would work.
Concerns about BTC’s security surface
It’s true that the concerns regarding the security of Bitcoin’s consensus mechanism PoW resurfaced just after Ethereum Classic suffered a 51% attack.
This can happen when a miner or mining pool gains more than 50% of a network computing power in order to rewrite the ledger and double spend prior transaction.
On the other hand, it’s also important to note that such attacks are incredibly costly.
According to Crypto51, as The Daily Hodl mentions, with is tracking the amount of money that’s required in order to overtake a particular blockchain it would currently cost $331,077 per hour to attack the Bitcoin network.
What is your chain? I could take down btc and eth for quite a while with just 3 pool operators.