Charlie Lee, the creator of Litecoin, discusses this week's 51% attack on the Ethereum Classic blockchain. He describes how the attacker was able to gain control of more than 51% of the network, why it was inexpensive for them to do so, how they profited from their attack and who loses money in such an attack. We talk about what types of blockchains are susceptible to these types of attacks, whether or not Coinbase or other exchange will de-list ETC and why the price of ETC hasn't dropped -- and what that means for cryptoeconomic theories around 51% attacks.
Thank you to our sponsors!
CipherTrace: http://ciphertrace.com/unconfirmed
Episode links:
Coinbase blog identifying the 51% attack: https://blog.coinbase.com/ethereum-classic-etc-is-currently-being-51-attacked-33be13ce32de
Charlie's tweet about how a coin that's dominant in its respective mining algorithm will not be vulnerable to 51% attacks: https://twitter.com/SatoshiLite/status/1082369887278837763
Charlie's tweet about how only decentralized blockchains are susceptible to 51% attacks: https://twitter.com/SatoshiLite/status/1082491687169998848
Haseeb Qureshi tweet storm about the ETC 51% attack: https://twitter.com/hosseeb/status/1082815549132816384
We're Moving to Unchained. Follow Us There!
Girl Gone Crypto: How These Wildly Entertaining Crypto Videos Get Made - Ep.165
Michael Moro on Tesla's BTC Buy and the New Genesis Treasury - Ep.164
Why Asia Is So Important to Crypto - Ep.163
Why the GameStop Insanity Is So Similar to Crypto - Ep.162
Is Tether a Fraud? Its Bank Says It's Not - Ep.161
What You Need to Know About Bitcoin Layer 2s - Ep.160
2021 in Crypto: What to Expect in the Year Ahead - Ep.159
Laura's New Year's 2021 AMA: Your Questions About Privacy, the STABLE Act, Diem and More - Ep.158
Laura's Christmas 2020 AMA: Your Questions About Crypto Media and More - Ep.157
Beeple on How and Why He Raked In $3.5 Million - Ep.156
Why Rohan Grey Believes Stablecoin Issuers Need to Be Banks - Ep.155
How to Get Your ETH2 Yield and Take Out a Loan on It - Ep.154
Crypto on Every Corner: Driving Adoption With Jeremy Allaire and Meltem Demirors - Ep.153
9 Ways Bitcoin Is at an All-Time High - Ep.152
Chad Cascarilla on Paxos's Partnership With PayPal - Ep.151
What the Crypto Industry Could See Under a Biden Administration - Ep.150
The 2 Types of Investors Driving Interest in Crypto - Ep.149
Willy Woo on Why It's 'an Extremely Great Time to Buy Bitcoin' - Ep.148
What You Need to Know About the DOJ's Cryptocurrency Enforcement Framework - Ep.147
Create your
podcast in
minutes
It is Free
Pharmacy Podcast Network
Startitup podcasty
Sarah Westall - Business Game Changers
Børsen Morgenbriefing
Wall Street Breakfast