EOS founder Dan Larimer says he could “take down” both Bitcoin and Ethereum if he wanted, with the help of a few mining pool operators.
What is your chain? I could take down btc and eth for quite a while with just 3 pool operators.
— Daniel Larimer (@bytemaster7) March 28, 2019
Larimer declined to offer further specifics on exactly how such an attack would work.
Concerns over the security of Bitcoin’s consensus mechanism proof-of-work resurfaced after Ethereum Classic suffered a 51% attack, which happens when a miner or mining pool gains more than 50% of a network’s computing power in order to rewrite the ledger and double spend prior transactions.
However, such attacks are extremely costly. According to Crypto51, which tracks the amount of money required to overtake a specific blockchain, it would currently cost $331,077 per hour to attack the Bitcoin network.
The crypto platform Bakkt just released an update on its efforts to launch a physically-backed Bitcoin futures product in the US. CEO Kelly Loeffler says the company is getting closer to gaining approval from regulators.
“While we’re not yet able to provide a launch date, we’re making solid progress in bringing the first physical delivery price discovery contracts for bitcoin to the U.S., where price formation will occur in federally regulated, transparent markets.”
Loeffler also introduced the team’s new board members, which include a number of heavy hitters in the world of tech and finance.
“Chairing the board is Tom Noonan, a cyber expert and founder of numerous cybersecurity companies, including Internet Security Systems (IBM), JouleX (Cisco) and Endgame. Also joining me on the board are Jeff Sprecher, the Founder, Chairman and CEO of ICE and Chairman of the NYSE; Akshay Naheta, Managing Partner at Softbank; and Sean Collins, Managing Partner at Goldfinch Partners.”
Ripple and XRP
Ripple’s chief technology officer David Schwartz will answer the crypto community’s questions on Ripple and XRP this Monday in a new ask-me-anything hosted by Quora. The event starts at 2:00 p.m. Pacific Time, and the site is taking questions now.
— Quora Sessions (@QuoraSessions) March 29, 2019
It’s the second event for Schwartz in a matter of weeks. He recently talked about the genesis of XRP, Bitcoin’s “secret sauce” and the potential of blockchain and crypto in a fireside chat at SXSW in Austin, Texas.