Nassim Nicholas Taleb, a risk manager, and a financial analyst coined the expression “Black Swan event”, which is basically an event that is unpredictable since it has not taken place in the past. It is an event that could not be predicted with the help of traditional means.
This term has been used in several sectors where an event has occurred beyond the expertise and expectations of the experts. With respect to crypto, especially Bitcoin, a black swan event can be an attack on the protocol. Such an attack can be of two forms– either from external entities or from within the community. Neither of these two types of attacks are considered probable, and if taken place, shall be considered a black swan event.