Ethereum Researcher: Bitcoin Security Budget a ‘Ticking Time Bomb’

Description

Ethereum Foundation researcher Justin Drake warns that Bitcoin’s low transaction fees and fixed supply model pose a long-term security threat, potentially leaving the network vulnerable to a 51% attack.

Publish date

May 30, 2025

Publisher

Bitcoin.com News

Web URL

https://news.bitcoin.com/ethereum-researcher-bitcoin-security-budget-a-ticking-time-bomb

Referenced by

EF’s Justin Drake warns about Bitcoin security

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News story

For bitcoin to survive in the future, Drake explains that the 21 million BTC limit would be lifted, adding tail issuance to the network, or simply changing from proof-of-work to proof-of-stake consensus. “Bitcoin is meant to be antifragile. Yet the elephant in the room in the room is not being addressed,” he concluded.

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Drake argues that transaction fees, which are expected to rise in the future as the block subsidy disappears, have failed to climb to support the network operation. Since 2016, fees have only represented 1% of all the revenue earned by miners per block.

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