Home Coins Ethereum (ETH) Ethereum Classic suffers another 51% attack

Ethereum Classic suffers another 51% attack

Ethereum Classic suffers another 51 attack

The Ethereum Classic (ETC) network was hit by another 51% attack on August 29, causing the reorganization of more than 7,000 blocks just weeks after proposing security upgrades.

In a tweet, Ethereum Classic confirmed the attack and promised it is working on potential solutions to the problem.

“While ETC is still making progress in evaluating proposed solutions, we are aware of the current risk to the network at these low hash rate levels. To miners, exchanges, and other service providers we suggest keeping confirmation requirements levels well above 7K for now.”

The attack comes a few weeks after developers proposed changes to the network over the next three to six months in hopes of warding off further incursions. Immediate actions include a defensive mining cooperation with mining pools to maintain consistent and even increased hashrates, advanced network monitoring, whitelisting addresses and a finality arbitration system to inhibit chain reorganization.

ETC said in another tweet it’s currently at “~3% of the overall network hashrate” and is aware that repeated attacks may occur while testing out these changes.

This month alone saw Ethereum Classic suffer at least two 51% attacks before this latest one. Some exchanges like OKEx, alarmed at the constant attacks, even warned ETC it will delist it if security is not beefed up.



Source link

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
474FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,579FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.18
GBP
1.29
CHF
1.10
NOK
0.11
JPY
0.01
CAD
0.76
AUD
0.73

Most Popular

Brazen Nigerian Crypto Scam Inksnation Still Operational Three Months After Regulator Warning

One of Nigeria’s most brazen crypto scams, Inksnation remains operational and still invites new investors some three months after the country’s Securities...

Former government contractor avoids jail for mining crypto at work

A former government contractor in Australia who mined crypto using state-owned supercomputers has avoided jail time. According to The Sydney Morning Herald, Jonathan Khoo...

Party at Vitalik’s House? For DeFi, it’s Do-or-Die

Ethereum gas prices have set new records, with single DeFi transactions costing over $10 in fees. High fees are the result of...

The battle between DeFi, CeFi and the old guard

We aren’t taught real economics in school. We learn, instead, voodoo economics. For example, rarely — if ever — do professors present us with...
bitcoin
Bitcoin (BTC) $ 10,835.14
ethereum
Ethereum (ETH) $ 369.59
ripple
XRP (XRP) $ 0.245398
tether
Tether (USDT) $ 0.999416
bitcoin-cash
Bitcoin Cash (BCH) $ 223.68
bitcoin-cash-sv
Bitcoin SV (BSV) $ 150.94
litecoin
Litecoin (LTC) $ 46.57
eos
EOS (EOS) $ 2.64
binancecoin
Binance Coin (BNB) $ 26.16
okb
OKB (OKB) $ 6.11
tezos
Tezos (XTZ) $ 2.26
leo-token
LEO Token (LEO) $ 1.23
cardano
Cardano (ADA) $ 0.089215
monero
Monero (XMR) $ 91.49
stellar
Stellar (XLM) $ 0.076136
chainlink
Chainlink (LINK) $ 10.01
huobi-token
Huobi Token (HT) $ 4.76
tron
TRON (TRX) $ 0.026712
usd-coin
USD Coin (USDC) $ 0.999311
dash
Dash (DASH) $ 70.28
neo
NEO (NEO) $ 23.98
iota
IOTA (MIOTA) $ 0.260012
nem
NEM (XEM) $ 0.109456
zcash
Zcash (ZEC) $ 55.98
maker
Maker (MKR) $ 476.23
paxos-standard
Paxos Standard (PAX) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 5.07
vechain
VeChain (VET) $ 0.014218
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 3.72
kucoin-shares
KuCoin Shares (KCS) $ 1.16
waves
Waves (WAVES) $ 2.44