Is ETC 102% Screwed After Second 51% Attack?

Is ETC 102% Screwed After Second 51% Assault?

Ethereum Basic (ETC) has suffered a second 51% assault in lower than one week, bringing the continued 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 Basic.

It isn’t identified if it’s the similar hacker or a copycat assault impressed by the primary assault. 

ETC’s safety referred to as into query

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

“ETC ought to simply change 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 Basic community, ETC is presently buying and selling for $7.05 — a mere 1.5% slide over seven days.

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

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

In response to crypto51, 51% assaults might be initiated in opposition to Ethereum Basic utilizing rented hash energy from NiceHash for simply $12,028 per hour, with the platform presently providing up 32% extra hashing energy than is required to provoke the assault.

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