✒ Conclusion from the article:
“To attack a blockchain and shut it down requires gaining 51% control of the computational power or value of tokens staked to verify transactions. The more valuable the tokens, the more energy it takes to attack a proof-of-work chain, like Bitcoin, and the more money to attack a proof-of-stake chain, like Ethereum.”
“The security of these chains — as measured by the amount someone would have to spend to attack them — is now in the region of $10bn to $15bn. It would require either a government or an extraordinarily rich individual to mount such an attack.”
“Crypto’s reputation has been undermined before. It has collapsed in value repeatedly throughout its lifetime. Although fewer people will use crypto as a result of the FTX collapse, it is very hard to imagine the number will be small enough to take its value to zero.”
Sounds like crypto has reached the “escape velocity”.