IS ETHEREUM SAFE FROM HACKING??

in #ethereum7 years ago

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The Ethereum protocol itself is about as safe as you can get.

There's a story about a Silicon Valley entrepreneur who paid a security firm $500,000 to try to crack Bitcoin. After six months, they came back and said they couldn't break it. This is the same for the system that Ethereum is built upon.

The mathematics that Ethereum, Bitcoin and all other cryptocurrencies are built on are secure. There are no backdoors to be able to make a fake transaction. That is one of the reason why Ethereum and all other blockchains are still around today.

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With all broken encryption and hashing algorithms of the past, they are 100% secure... until they're not. It is to the best of our knowledge that the current algorithms are secure, but it is very naive to say that they will remain that way forever. Additionally, quantum computers capable of running Shor's algorithm at large enough scale can definitely break current encryption used in cryptocurrencies, so it's only a matter of time before quantum-resistant algorithms will become the new normal across the board.

i don't think so =)))

Longlife to blockchain tech!!!

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