Re:Someone paid $2.6M in fees to move $134 worth of cryptocu...
by lostmyoldone on Thursday June 11, 2020 @01:39PM
(#23491285)
I don't know the specifics of etherum, I actually do think they are somewhat robust against the more trivial attacks.
However, in some blockchains it is absolutely feasible to become a majority miner for a short period of time by simply renting cloud resources.
If the network is further temporarily reduced due to internet connectivity flapping/segmentation, it might be cheap.
1) Situate yourself in a country with poor connectivity.
2) Trip a breaker to zap most of the connectivity
3) Spin up a gazillion cloud instances
4) Compete more-or-less only with national miners.
However, in some blockchains it is absolutely feasible to become a majority miner for a short period of time by simply renting cloud resources.
If the network is further temporarily reduced due to internet connectivity flapping/segmentation, it might be cheap.
1) Situate yourself in a country with poor connectivity. 2) Trip a breaker to zap most of the connectivity 3) Spin up a gazillion cloud instances 4) Compete more-or-less only with national miners.