How secure is proof of work?
An example of an AI chatbot conversation about the security of proof of work in blockchain.
Can you explain how secure proof of work is in blockchain technology?
Proof of work (PoW) is considered secure because it requires significant computational power to solve cryptographic puzzles, making it costly to attack.
What are the main vulnerabilities of proof of work?
The main vulnerabilities include 51% attacks, where a single entity controls the majority of the network's hashing power, and the risk of centralization.
How does proof of work compare to proof of stake in terms of security?
Proof of stake (PoS) is generally seen as more energy-efficient and less prone to centralization, but PoW has a longer track record of security.
Are there any real-world examples of proof of work attacks?
Yes, notable examples include the Bitcoin Gold attack in 2018 and the Ethereum Classic attack in 2020, where attackers gained control of the network.
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