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How Secure Are Blockchain Networks Today
Hacker Noon July 23, 2022
Blockchains are less likely to be hacked than other systems since they are not centralized. For example, in order to launch a 51% attack, hackers or criminals need to control more than half of the computers that are part of the distributed ledger in order to change the chain (this is very unlikely, but not impossible).
However, there are still instances of blockchain networks being network, for example, Axie Infinity’s Ethereum-based sidechain Ronin was hacked for $650m worth of ETH earlier this year.
This was due allegedly to an exploit regarding Sky Mavis being given access to sign off on transactions, a permission that was never provoked, which may...
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