1

Bitcoin is secure when 51% of the miners are honest. We also need every node to have at least one honest peer to avoid eclipse attacks.

Are these the only assumptions based on which Bitcoin is secure? Is there a complete list of assumptions and a formal analysis of the threat model somewhere?

New contributor
satya is a new contributor to this site. Take care in asking for clarification, commenting, and answering. Check out our Code of Conduct.
2
  • Full Nodes and Miners are different in Bitcoin. If 'nodes' and 'assumptions' in question is based on sipa's answer, 51% of the full nodes and their honesty doesn't matter. – Prayank Jul 21 at 5:25
  • Thank you Prayank :) I updated the question – satya Jul 21 at 6:15
3

Bitcoin is secure when 51% of the miners are honest. We also need every node to have at least one honest peer to avoid eclipse attacks. Are these the only assumptions based on which Bitcoin is secure?

I don't consider them as assumptions instead they are different types of attacks.

51% attack is the most over-rated. You can find lot of Q&As related to 51% attack: https://bitcoin.stackexchange.com/search?q=%2251%25+attack%22

TL;DR: https://bitcoin.stackexchange.com/a/101560/

Eclipse attacks are possible in any peer to peer network and not something new in Bitcoin. However, security is improved on different levels by Bitcoin Core contributors regularly making them very difficult. Example: https://github.com/bitcoin/bitcoin/pull/12626

Things that affect security in Bitcoin IMO:

  1. DNS seeds: How does the bitcoin core protect against initial DNS seed changes?
  2. assumevalid: Does assumevalid lower the security of Bitcoin?
  3. BGP hijacking: Was bitcoin peer to peer network affected because of the recent BGP hijack incident?
  4. Vulnerabilities in layer 2 projects that may affect Bitcoin in some cases.
  5. Zero day vulnerability in any full node implementations
  6. Internet Shutdown in lot of places at the same time. Although there are few solutions: Mesh Networks, Satellite Communication and Text messages.

Your Answer

satya is a new contributor. Be nice, and check out our Code of Conduct.

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.