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Author Topic: Have there been instances of blockchains been hacked?  (Read 130 times)
JLCoin (OP)
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November 08, 2017, 08:47:23 AM
Last edit: November 08, 2017, 11:09:35 AM by JLCoin
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If so, why are people so confidant that it won;t happen again? Thanks!
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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November 08, 2017, 09:14:29 AM
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If you are referring to the Bitcoin blockchain the answer is no. No one has ever succesfully hacked the blockchain of Bitcoin. To be able to hack Bitcoin blockchain you need to have 51% of hash power of Bitcoin network which will cost you millions of dollars and impossible to achieve due to the huge community of Bitcoin miners. You can also hack blockchain without having the majority of computing power if you can solve the Bitcoin algorithm SHA256 in reverse which is very hard to solve.
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