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by coralreef
2982 days ago
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RE: decentralized network security The 51% attack, or control over the network by a state or group of actors, basically destroys the integrity of the blockchain, as this group can now decide to move money from any account, restrict transactions, etc. The more likely a 51% attack can occur (via centralized systems) then the less secure we can call that network. |
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That's not accurate. They can double-spend, which can have equally bad effects, but without a way to forge transaction signatures (which is only possible with a broken cryptohash function), they can't just drain accounts.