Would a 51% attack be profitable for the attacker?

10 000 question challengeCategory: Core Blockchain DevelopmentWould a 51% attack be profitable for the attacker?
tokenh6_wp Staff asked 3 years ago
1 Answers
tokenh6_wp Staff answered 3 years ago

Although this is a discussable question, there is a strong opinion that a 51% attack would not be profitable.
Supporters of this idea mention two main arguments: firstly, liers cannot fake the whole chain. If they do it constantly, the community will find out very soon leading to obvious problems with trust. Secondly, there are no real economic incentives to attack the network. If the fraud is proven, the community finds out very soon and the price goes down immediately. Hence, no long-term profit can be made from 51% attack.
Source: https://hackernoon.com/why-decentralization-matters-explained-for-dummies-f75b5d40b2ee