Bitcoin’s Security Budget Under Scrutiny: Costs of 51% Attacks Compared to Ethereum

Ethereum developers are questioning the security of Bitcoin, highlighting its significantly lower vulnerability to 51% attacks. Research by Justin Drake reveals that a successful attack on Bitcoin could cost only around $10 billion, compared to Ethereum’s much higher price tag. This is due to the stark difference between their security models: Bitcoin relies on proof-of-work (PoW), which requires massive computing power for mining. In contrast, Ethereum utilizes Proof-of-Stake (PoS) which demands substantial ETH stake to participate in validation and significantly hinders attack attempts.