Thursday, 16 September 2021

What attacks can a bad entity do if they rent 51% of the network nodes?

Hello. I've seen Bitcoin Maximalists arguing that Bitcoin's decentralization is dependant on the amount of node operators. This makes no sense to me, after all Bitcoin is Proof of Work and nodes can't do more than reject a bad block. At least as far as I know.

Can someone explain to me what these maxis have in mind when they say more nodes = more decentralization, in Bitcoin's proof of work mechanism? Is there any attack you can make against Bitcoin by renting 51% of the network nodes? They usually ignore my question or straight up block me when I ask that.

submitted by /u/Kazakkbdk
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source https://www.reddit.com/r/btc/comments/pouiid/what_attacks_can_a_bad_entity_do_if_they_rent_51/

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