Ethereum Classic Suffers 51% Attack Again: Delisting Risk Amplified

Ethereum Classic Suffers 51% Attack Again: Delisting Risk Amplified

THELOGICALINDIAN - Beleaguered Ethereum Classic ETC blockchain suffered yet addition 51 advance on August 29 The latest advance acquired the about-face of over 7000 blocks and this corresponds to about two canicule of mining At the time of advertisement it was not bright if there had been any doublespending as was the case in the aftermost advance In that advance it was appear that the Okex barter suffered a accident of 56 actor anon as a aftereffect

A statement absolute the advance adds that “all absent blocks will be removed from the adolescent antithesis and we will analysis all payouts for alone transactions.”

Meanwhile, in their antecedent comments on the latest attack, developers alive on ETC are advertence advancing attacks to the network’s accepted vulnerabilities.

ETC is ~3% of the all-embracing ETH arrangement assortment rate. We are able-bodied acquainted of abeyant again attacks while solutions such as “reorg caps” and the consecutive ECIPs are actuality activated and evaluated. If you haven’t already amuse access (which best have) amuse accession confs aloft ~10K,” reads a Twitter account from the capital ETC team.

Furthermore, the account urges miners, exchanges, and added account providers to accumulate “confirmation requirements levels able-bodied aloft 7k for now.”

Meanwhile, the timing of the latest advance is assertive to accession eyebrows. The latest arrangement attack, which is the third time this has happened in a month, occurred anon afterwards some association associates had appear the accession of two new Ethereum Classic Improvements Proposals (ECIP).

Proposed by Input-OutputHK, the aboriginal ECIP introduces a checkpoint arrangement to anticipate the achievability of addition advance while the additional one proposes a decentralized treasury.

However, afterward the last attack, the ETC association had been breach on the way advanced and decidedly over the additional proposal. After acrimonious exchanges, it appears the Charles Hoskinson’s camp, which favors the arguable proposition, has prevailed.

Ethereum Classic Suffers 51% Attack Again: Delisting Risk Amplified

Interestingly, however, account of the latest advance appears to accept had a little aftereffect on the ETC price. At the time of writing, the ETC traded at $6.71 hardly bottomward from the $6.74 at about the time the aperture was discovered.

Still, there is a absolute achievability that some exchanges will delist the badge afterward this attack. Okex has already declared that it will “consider delisting ETC, awaiting the after-effects of the Ethereum Classic community’s assignment to advance the aegis of its chain.” The latest advance ability now force the barter to act on the threat.

Do you anticipate the ETC association is accomplishing abundant to stop these attacks? Share your thoughts in the comments section.

Image Credits: Shutterstock, Pixabay, Wiki Commons