THELOGICALINDIAN - n-a
Ethereum Classic (ETC) may be adversity from what appears to be the aboriginal high-level drudge of the year afterwards an alien miner afflicted the arrangement with a abrupt access of hashing power.
The credible drudge acquired Coinbase to append trading in Ethereum Classic tokens today. In a blog post announcement the suspension, the accepted wallet and barter account said it had aboriginal detected a “deep alternation reorganization” on Saturday; it has now abeyant all alternation with the network. Since then, according to the blog post, “we detected 8 added reorganizations that included bifold spends, accretion 88,500 ETC (~$460,000)”
The barter is currently assessing the account of the disruption and has not yet declared back it will resume ETC trading services.
A Hack By Another Name…
Coinbase originally said Ethereum Classic was experiencing a 51% advance but retitled the column to “deep alternation reorganization” anon afterward. Stev Lohja, the technology coordinator at ETC Labs’ new amount development team, told Crypto Briefing that although the two are fundamentally the same, a “reorg” isn’t so abundant an attack to ascendancy the arrangement as it is to booty acting advantage of low assortment ability and bifold absorb afore hashing ability allotment to accustomed levels.
Lohja suggests that it ability accept been a bootless attack to bifold absorb ETC on the Bitfinex cryptocurrency exchange. He also said that although there would absurd be any abiding systemic disadvantages, as the reorg will leave affairs in ‘orphaned’ blocks unconfirmed. “[A] Reorg is a abnormality in blockchain back a miner mines advanced and the longest alternation wins”, Lohja said. “The gap of blocks are orphaned.”
The official Twitter annual for Ethereum Classic has additionally declared that the contempo disruption wasn’t so abundant a 51% advance as it was “selfish mining”. They accept additionally speculated that the abrupt access in hashing ability may accept appear from a new ASIC mining rig developed by Chinese aggregation Linzhi, which has a assortment rate of added than 1,400/Mh.
Regarding the contempo mining events. We may accept an abstraction of area the hashrate came from.
ASIC architect Linzhi accepted testing of new 1,400/Mh ethash machines #projectLavaSnow
– Most acceptable egocentric mining (Not 51% attack)
– Double spends not detected (Miner dumped bocks)— Ethereum Classic (@eth_classic) January 7, 2019
Others common that the arrangement was beneath attack, although there is some altercation as to what affectionate of advance it was and whether funds had been auspiciously double-spent. Several mining pools accept accomplished orphaned blocks.
A Twitter annual affiliated to the Etherchain block charlatan accepted that an advance was in progress, saying:
Although the after-effects of the advance are not yet clear, it is absurd to advice what charcoal of the Ethereum Classic, which is already on accident ascendancy due to a abridgement of development funds. If a bifold absorb was successful, ETC may able-bodied go the way of Bitcoin Gold.
The columnist is invested in agenda assets, but none mentioned in this article.
