Bitcoin safe from ‘51% attack’, new whitepaper concludes

A new whitepaper released by Saravanan Vijayakumaran, Associate Professor at the Indian Institute of Technology (IIT) Bombay, and commissioned by Zebpay, claims that Bitcoin is safe from the dreaded ’51% attack’.

Such an attack would require huge expenditure and yield relatively little in terms of financial returns. In theory, only a nation state prepared to fritter away vast sums could possibly muster the resources to disrupt the network in such a way, the study concludes.

“As Bitcoin reaches 10 years of existence and cryptocurrencies move further into the financial mainstream, this whitepaper investigating the security of the first cryptocurrency is timely and important research,” says Ajeet Khurana, CEO, Zebpay.