Is ETC 102% Screwed After Second 51% Assault?

Ethereum Traditional (ETC) has suffered a second 51% assault in lower than one week, bringing the continuing safety of the community into query.

On August 6, tweeted that its affiliated mining pool Ethermine had disabled ETC pool payouts after greater than 4,000 blocks had been reorganized within the newest assault on Ethereum Traditional.

It’s not recognized if it’s the identical situation or a copycat assault impressed by the primary assault. 

ETC’s safety known as into query

In response to the growing velocity of 51% assaults concentrating on Ethereum Traditional, Ethereum co-founder Vitalik Buterin tweeted:

“ETC ought to simply swap to proof of stake. Even given its risk-averse tradition, at this level making the soar appears lower-risk than not making it.”

Regardless of the obvious vulnerability of the Ethereum Traditional community, ETC is at the moment trading for $7.05 — a mere 1.5% slide over seven days.

It prices $12Okay to 51% assault ETC for one hour

Final week’s reorganization assault noticed a hacker reap a greater than 2,800% return on an investment of $192,000 in rented hash energy from NiceHash — with the attacker double-spending 807,260 ETC value $5.6 million into existence over lower than 24 hours.

Based on crypto51, 51% assaults could be initiated in opposition to Ethereum Classic utilizing rented hash energy from NiceHash for simply $12,028 per hour, with the platform at the moment providing up 32% extra hashing energy than is required to provoke the assault.

Ethereum Traditional is amongst 45 cryptocurrencies which might be instantly weak to 51% assaults utilizing solely hash energy rented from NiceHash. ETC additionally suffered a 51% assault in early January of 2019.

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