Comment by wslh
1 month ago
The innovation on Bitcoin is not about cryptography but game-theory at work. For example, is it convenient for a miner to destroy the system or to continue mining? There are theoretical attacks at around 20%, not 51%. A state actor could also attack the system if they want to invest enough resources.
Genuinely curious since I’d only heard of the “51% attack” — what happens around 20%?
Please check "Selfish Mining: A 25% Attack Against the Bitcoin Network" [1] and scientific studies such as [2].
[1] https://www.reddit.com/r/Bitcoin/comments/1pv8ty/selfish_min...
[2] https://arxiv.org/pdf/1507.06183