Why Nobody Can Hack a Blockchain
“Hacking” a blockchain is almost impossible — but what makes decentralized ledgers so inherently “unhackable”? A common mistake that new cryptocurrency investors make is to confuse the hacking of a blockchain with that of a digital exchange. Whereas unfortunately centralized digital exchanges get hacked more than they should, decentralized blockchain hacks are very rare, as they are hard to achieve and provide little incentive to carry out. In this post, we look at what makes blockchains — as applied in the cryptocurrency sector — impervious to security breaches. What Makes a Blockchain Withstand Hacks? Decentralized and Open-Source Protocols The blockchains…