Ethereum Developers Heavily Criticized Bitcoin: They Revealed the Amount of Money Needed to Attack BTC!

Ethereum researcher Justin Drake, in his recent statement, drew attention to the weakness of Bitcoin's security budget, stating that the cost of a 51% attack is much lower compared to Ethereum.

Drake predicts that such an attack on Bitcoin could cost around 10 billion dollars, while he noted that a similar attack on Ethereum would be much more expensive due to the Proof-of-Stake (PoS) mechanism.

Drake, to attack the Ethereum network, stated that it is necessary to seize more than 50% of the staked ETH, which is currently worth approximately 44.8 billion dollars, and expressed that this figure could further increase with market fluctuations.

Drake's remarks parallel the striking shares made by Grant Hummer, co-founder of Ethereum-focused marketing and product firm Etherealize, on the X platform.

Hummer used the following expressions in his post:

"With all due respect, the BTC security budget is completely depleted. Launching a 51% attack on BTC today would only cost $8 billion. This figure drops to $2 billion when BTC's security market value is 0.1% of its asset market value, making such an attack almost certain. This will become a visible reality within the next decade. ETH, on the other hand, is the only truly decentralized crypto asset that could become the point of value storage on the internet."

Hummer, who stated that Ethereum has the advantage of having a higher security cost, continued as follows:

"Protecting your data with a global decentralized network that has thousands of validators and approximately $100 billion in stake security is certainly more expensive compared to chains run by a few venture capitalists on AWS. However, I know which one I would prefer for critical data."