Bitcoin is decentralized in nature, making it difficult to hack. The overall prestige of blockchain networks makes them robust against security breaches. So, why? Why can’t Bitcoin be hacked?

Decentralized Open Source Protocols

The blockchains behind most cryptocurrencies are peer-to-peer (P2P), open-source and public, allowing anyone with the actual equipment and knowledge to peek into the background. This is valuable for promoting transparency and attracting buyers.
A blockchain is made up of different technological devices that work together towards a common goal. For example, there are proof-of-work (PoW) and proof-of-stake (PoS) consensus systems that protect the network by mitigating cyber attacks from hackers. The decentralized nature of a blockchain means that its network is distributed across multiple computers, known as nodes. This eliminates a single point of failure. In other words, there is no way to “cut off the head of the snake” – because there is no head.

The architecture of a blockchain determines how nodes cooperate to validate a process before committing to the protocol. In the case of other PoW systems, such as Bitcoin and Bitcoin Cash, a minimum of 51 percent of nodes must agree to the process before commitment.

Mixed Algorithm

Each process is called a block, and the linking of several processes together becomes a blockchain. In particular, a block has cryptographic elements that make it unique. A network’s hashing algorithm determines the details. For example, the Bitcoin blockchain uses a double SHA-256 hash function that takes process data and compresses it into a 256-bit hash.

The hash cost makes a process rigid by making it more difficult to translate. Each block in a chain contains a reasonable set of information from the previous block. Therefore, even if a malicious actor reverse-engineers the hash, the resulting block will not synchronize with other blocks because it will have a different hash output, causing the system to reject it.

51 percent offenses are improbable

The longer a blockchain exists and the more new users it attracts, the less likely it is to be subject to a 51 percent attack due to increased hashing power.

This becomes prohibitively valuable at a certain point. Therefore, given the size of blockchains like Ethereum and Bitcoin, this kind of scenario is almost impossible.

How to Hack Bitcoin?

Notable victims of the 51 percent attack include Ethereum Classic, Bitcoin Gold, Electroneum and finally Grin. The Ethereum Classic network uses the PoW consensus algorithm. While Bitcoin uses the same algorithm, ETC has far fewer nodes and miners securing the system. Therefore, it has less processing power, making it easier for an attacker to gain control.