Blockchain wars: Are all rival blockchain attacks in 2020 mostly unfounded?

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It is widely understood rival blockchain companies, especially the cryptocurrencies are not a huge fan of each other. In plain words, they simply despise each other. While this mocking and criticisms sometimes work in a constructive manner, it is also believed that this hate has led to some of the infamous blockchain attacks on the likes of IOTA and Verge.

It is now understood within certain sections that with the coming years, as the crypto world grows, these blockchain attacks are going to rise. These attacks will eventually leave the stage wide open for a new form of war- blockchain wars between the rivals. The other side believes that these attacks will continue to happen but won’t lead to anything ultimately. Attacks will continue for the sake of money or fame but the rivalry will not be the reason behind it.

Previous incidents of blockchain attacks

Back in 2018, Ethereum developers allegedly accused that EOS developers have been targetting them with a Sybil attack but EOS obviously denied knowledge of any such activities. Similarily there were several attacks on Verge and IOTA. On December 31, 2019, Ethereum was yet again attacked which threatened to bring their whole system down.

According to Gavin Wood, who is the co-founder of Ethereum, these attacks will continue in the foreseeable future, probably more fiercely than the previous ones. The blockchain platform currently possesses a lot of dumb players which will be wiped out soon but when the big players will be involved, the situation won’t be good.

Certain developers believe that rivals aren’t motivated to attack another cryptocurrency just for the sake of rivalry. The hype about the blockchain attacks is quite exaggerated and will die out soon.

Future potential blockchain attacks in 2020

It is predicted that after the NYE attack, Ethereum is more exposed than ever. The attack exposed one of the biggest loopholes called the Parity Ethereum. Tom Shaughnessy, the co-founder of Digital Delphi understand that this rivalry will do more harm than good. The future will see hacking wars and heavy exploitation of bugs. One of the rivalries to watch will be between Ethereum and Dotcoin.

Predicting what actually happens in the future, especially in cryptocurrency, is nothing but pure speculation. But the past evidence of attacks and exploits might increase, might improve the cryptosphere. But the question has to be asked if rival blockchains will be involved in blockchain attacks or blockchain wars in the future.

blockchain attacks

Featured image from Pixabay.com

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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