Ethereum Developers Criticize Bitcoin: They Reveal the Amount of Money Needed to Attack $BTC

Ethereum researcher Justin Drake recently highlighted the weaknesses in Bitcoin's security budget, stating that the cost of a 51% attack is much lower than that of Ethereum. Drake estimates that an attack like this on Bitcoin could cause around 10 billion dollars in damage, while he notes that a similar attack on Ethereum would be much more expensive due to its Proof-of-Stake (PoS) mechanism. To attack the Ethereum network, Drake stated that it is necessary to hold over 50% of the staked ETH, which is currently valued at approximately 44.8 billion dollars and this number may increase according to market fluctuations. Drake's comments align with the notable posts of Grant Hummer, co-founder of the Ethereum-focused marketing and product company Etherealize, on platform X. Hummer has used the following expressions in his post: "With all due respect, BTC has completely depleted its security budget. A 51% attack on BTC today would only cost $8 billion. When that number drops to $2 billion (, which is when the security market cap of BTC is 0.1% of the asset market cap ), such an attack is almost certain to occur. This will become a tangible reality in the next decade. ETH is the only truly decentralized cryptocurrency asset that can become the store of value (SoV) of the internet." Hummer stated that the higher security costs of Ethereum are also an advantage and added: "Secure your data with a global decentralized network of thousands of validators and approximately 100 billion dollars in security staked, which is certainly more costly than the chains that some VCs run on AWS. But I know which chain I prefer for critical data."