Is true that the block chain is unhackable?

Printable View

07-28-2018, 12:32 PM
Bhavya

Is true that the block chain is unhackable?

Hello Friends,

Block chain is a digital ledger use to record the transactions made in bitcoin or another cryptocurrency.
I heard that block chain is unhackable.

Is it true that the block chain is unhackable?
08-02-2018, 12:05 PM
Neo

Quote:

Originally Posted by Bhavya

Hello Friends,

Block chain is a digital ledger use to record the transactions made in bitcoin or another cryptocurrency.
I heard that block chain is unhackable.

Is it true that the block chain is unhackable?

It is hack-able. hey are not immune to attack. Any technology has weak points and attack vectors, and the blockchain is no exception. The blockchain ledger is distributed across nodes around the world. To hack into a blockchain system, you would need to take control of 51% of the nodes. In most scenarios, this cost more money to do than it would be worth.

Theoretically, a quantum computer may be able to hack blockchain technology. However, I believe that we’ll find a solution to this problem well before it’s even remotely a possibility.

Lastly, sloppy coding and a lack of security auditing could lead to a blockchain hack, but that’s not the blockchain’s fault.
08-02-2018, 06:00 PM
Bhavya

Quote:

Originally Posted by Neo

It is hack-able. hey are not immune to attack. Any technology has weak points and attack vectors, and the blockchain is no exception. The blockchain ledger is distributed across nodes around the world. To hack into a blockchain system, you would need to take control of 51% of the nodes. In most scenarios, this cost more money to do than it would be worth.

Theoretically, a quantum computer may be able to hack blockchain technology. However, I believe that we’ll find a solution to this problem well before it’s even remotely a possibility.

Lastly, sloppy coding and a lack of security auditing could lead to a blockchain hack, but that’s not the blockchain’s fault.

Thank You so much for sharing this information, It's very useful, Hope we will get a solution very soon
08-18-2018, 04:15 PM
Moana

Quote:

Originally Posted by Bhavya

Hello Friends,

Block chain is a digital ledger use to record the transactions made in bitcoin or another cryptocurrency.
I heard that block chain is unhackable.

Is it true that the block chain is unhackable?

This involves crippling of one of the nodes in such a way that it fails to interact with other nodes. In this case, the percentage of mining hashrate does not pose as a restricting attribute. So it is hack able!
11-01-2018, 05:01 PM
Bhavya

Quote:

Originally Posted by Moana

This involves crippling of one of the nodes in such a way that it fails to interact with other nodes. In this case, the percentage of mining hashrate does not pose as a restricting attribute. So it is hack able!

Thanks for this short and brief explanation Moana.