Justin Drake described Bitcoin's current state as a "ticking time bomb" due to the declining proportion of miner revenue from transaction fees

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Ethereum Foundation researcher Justin Drake has warned about the security of the Bitcoin Network. Drake shared his view on X, noting that the Bitcoin Proof of Work (PoW) consensus mechanism is a ticking time bomb.

Bitcoin, the pioneering cryptocurrency, has long been praised for its decentralization, security, and immutability. However, a recent analysis by security expert Justin Drake has raised serious concerns about the sustainability of Bitcoin’s security model. He described it as a “time bomb.”