Solana co-founder Anatoly Yakovenko has opined that Bitcoin, the ideal cryptocurrency, is heading toward a “hybrid” proof-of-stake (PoS) mannequin.
He argues that custodians and centralized exchanges will reject lengthy-vary attacks in opposition to a known aim of “stunning” miners if the flagship coin does dwell up fragment of national reserves.
This comes amid heated debates about Bitcoin’s security amid declining transaction fees.
Justin Drake, a researcher for the Ethereum Foundation, provocatively acknowledged that Bitcoin became as soon as “cooked” in a lengthy social media post. He estimated that it may maybe presumably maybe well take roughly $10 billion to produce a 51% attack, which Drake believes is “peanuts” for nation-states.
Such considerations, then as soon as more, are mostly overblown. Famed crypto lawyer Gabriel Shapiro has illustrious that 51% of attacks will not be an precise threat anymore at this stage of Bitcoin’s evolution.
Moreover, some commentators enjoy identified that such an attack may maybe presumably maybe not be feasible since it may maybe presumably maybe well require a immense coalition of mining farms that haven’t any incentive to demolish the price of Bitcoin.
For the time being, Ethereum honest presently hit its lowest degree in opposition to Bitcoin since December 2020. Many Bitcoiners enjoy introduced up this fact to counter Drake’s doom-laden post.
