Etherealize Co-Founder: Bitcoin's Future is Worrisome Due to Security Budget Issues, a 51% Attack Currently Costs Only $8 Billion
PANews reported on May 14 that Grant Hummer, co-founder of the Ethereum ecosystem marketing company Etherealize, expressed concerns about Bitcoin's future due to its security budget issues. Currently, a 51% attack on Bitcoin would only require $8 billion, and if it drops to $2 billion (0.1% of Bitcoin's market value), an attack would almost certainly occur. This will become evident in the next decade. In contrast, Ethereum, with its true decentralization, is poised to become the default consensus point for storing value on the internet. Hummer also mentioned that after discussions with traditional finance executives, it was found that achieving million-level TPS (transactions per second) on a single global state machine is not feasible, but it is entirely possible through Ethereum's neutral settlement layer and high-speed L2 networks. He emphasized that the stability and maturity of decentralized financial infrastructure far outweigh short-term performance improvements, especially in the wave of tokenizing real-world assets (RWA) — currently, 85% of RWAs and most stablecoins have chosen Ethereum. In response to criticisms that "Ethereum is trying to do too much," Hummer countered that this is akin to questioning the multifunctionality of Windows or the internet. He believes Ethereum is becoming the cornerstone of the global financial system, with its security, decentralization, and ecological diversity being key to attracting large-scale institutional adoption.
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