It would take an attacker with 100% of current hash rate over two years to rewrite the Bitcoin blockchain, an all-time high.
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It would take an attacker with 100% of current hash rate over two years to rewrite the Bitcoin blockchain, an all-time high.
The below is a direct excerpt of Marty's Bent Issue #1138: "The network is very secure."[2] Sign up for the newsletter here[3].
Here's a fascinating and reassuring stat from the mining industry, as it stand right now it would take more than two years for an attacker with 100% of the network hashrate to completely rewrite the Bitcoin ledger dating back to January 3rd, 2009 (Happy Genesis Block Day, freaks!). Said another way, the network is pretty damn secure at the moment. More secure than it's ever been. You can rest easy if you have made a transaction that is sitting under a number of blocks.
This new all time high comes as the network hashrate is re-approaching all time highs.
The trend of Proof of Work equivalent days increasing has been raging up and to the right since mid-2019. Back then it would have taken a little less than a year to rewrite the whole chain. The security has more than doubled since then. Which is leading me to believe that this has been the most under-appreciated fundamental data point over the last two and a half years.
Many (myself included) have been focused on the growth of the Lightning Network, institutional and corporate adoption, Bitcoin in the eyes of regulators, and its permeation throughout pop culture, among other things. And this isn't to say that all of these things aren't great things that have been
