Yes, that was helpful.
I can conclude that, in order to achieve security we need to modify the permissions of the nodes in a way that a 51% percent would be much too expensive to try.
TECHNICALLY - for a successful attack “the mastermind hacker” would need a longer chain of transactions and/or higher value of invested work (PoW) or stake (PoS) so that the blockchain would think that the “hacker chain” is the trustworthy chain. And as far as my understanding goes, this can be prevented with permissions. And it can be prevented by having more % of “healthy nodes” because with every additional healthy node percentage increase, we dilute the % of “hacker” nodes. The cheapest way of hacking the blockchain would be to define an attribute (a factor) which would result in preference of malicious blocks. (for example a code which says: blocks which are submitted via IP address ending with XY are more trustworthy). But for that we would need a hardfork anyway, and the public would see that the code is malicious.
SUMMARY - An attempt is possible and probable, but it would cost a lot of RESOURCES in terms of a) hardware (nodes) and transaction costs (gas or electricity).
We could calculate how much energy and resources do we need if we want to hack Bitcoin the following way:
- SUMMARIZE (all nodes / 50%) = X. When we have X, we add 1% and we have the number of nodes necessary for a 51% attack in PoS. As far as I can see.
- SUMMARIZE (total blocks / 50%) = Y. When we have Y, we add 1% and we have the number of validated blocks which we would need to “subvert” and submit to Bitcoin as a valid block. This would be impossible to do, because of time-stamps obviously, so the resources would need to be compounded into the future to achieve majority of PoW.
I believe on a newb level, I kind of understand it.
So basically, if Apple would access all of apple computers sold in the past 5 years and turn them on and connect to the internet, install a “michelangelo virus” which would run in the back it would be possible…? Is there a mathematic solution to this?
Apple sold about 100 million computers in the past 5 years.
Bitcoin blocks 630.000