Understanding the numbers beneath your bitcoin’s security
The security of the bitcoin protocol has an unmatched track record spanning more than 15 years, convincing even the largest institutions to entrust it with treasuries worth billions of dollars. If you hold bitcoin or are considering doing so, this knowledge can be comforting. But on the other hand, it’s not uncommon to feel uneasy and question how a dozen words or a short string of address characters can be resilient against the most sophisticated attackers or future technological developments.
In this article, we’ll run the numbers and explore the basic cryptographic mechanisms that underpin a bitcoin wallet’s security. By the end, you’ll be in a better position to understand how the bitcoin protocol offers you sufficient protection and security for your long-term savings.
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