In a recent interview, CEO Aydin Kilic of Hive Digital Technologies discussed the protection of Bitcoin from attacks and compared it to the Monero network.
Comparison of Bitcoin and Monero
Aydin Kilic, CEO of Hive Digital Technologies, explained in the interview that Bitcoin's network has a decentralized energy infrastructure of 30 gigawatts, making it practically insurmountable to attacks like those threatening Monero, where a single pool approaches majority hash rate.
Conditions for a 51% Attack
Bitcoin's hash rate currently stands at 867 exahashes per second. To attempt a 51% attack, an entity would need to control at least 440 exahashes, requiring immense capital investment and ongoing energy expenditure. Such an action is deemed economically irrational for any single participant.
Bitcoin's Security Model
Kilic argues that Bitcoin is a global digital currency backed by energy, and its model rooted in thermodynamics provides intrinsic value. He believes this energy input is a factor lost in proof-of-stake systems like Ethereum.
Kilic emphasizes that Bitcoin's significant energy foundation makes it secure against attacks and highlights the importance of this model in today's cryptocurrency landscape.
