Miners to Attack Ethereum Classic after Polonix’s Listing
Chandler Guo, a well-known and respected figure in the Chinese digital currency community stated that he, assisted by other miners, will 51% attack Ethereum Classic as soon as possible. Speaking to CCN, Chandler stated that they would isolate any block so that transactions cannot be confirmed which was necessary because of Polonix’s addition of Ethereum Classic as Ethc. Polonix, one of the biggest altcoin exchanges, shocked the community this morning by listing a conceptually insecure and flawed coin, Ethereum Classic, a deprecated chain that has barely any miners and thus lacks any....
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While some miners are attacking Ethereum Classic, the spin-off blockchain based on the consensus and protocols of the original Ethereum blockchain continues to gain support. After miner Chandler Guo announced he and other miners plan to attack Ethereum Classic Tuesday, Bill Shihara, CEO of Bittrex, a cryptocurrency exchange, contacted CCN express his skepticism about the miners’ attacks. Guo said he, assisted by other miners, will 51% attack Ethereum Classic as soon as possible. Guo said that they would isolate any block so that transactions cannot be confirmed, which was necessary because....
Ethereum Classic is all set to get a hard fork of its own soon to counter the sustained DOS attack. Ethereum Classic is on its way to get a hard fork in the next two days. Ethereum recently split into two blockchains following a hard fork introduced by the Ethereum development team a few months ago. The hard fork resulted in two versions — Ethereum (ETH) and Ethereum Classic (ETC). While Ethereum continued to operate on the new fork, a portion of the cryptocurrency community decided to continue with the original Ethereum blockchain, calling it Ethereum Classic. Ethereum recently came under....
Ethereum classic was never supposed to exist. The hard fork of the ethereum blockchain earlier this month was meant to move funds associated with the hacking of The DAO into an account controlled by investors and leave the old record of transactions to be forgotten by history. Most of ethereum's developers made the switch, as did exchanges, startups and other members of the budding ecosystem. For a few days, the project returned to normalcy. But not everyone wanted that record to be forgotten. A small group of miners continued to use the original blockchain as a protest for what they....
It is evident for everyone to see this is not an effort representing the entire Ethereum community. Unfortunately, every single supporter will be caught in the crossfire of repercussions that will undoubtedly follow these attacks, Over the past few days, there have been various rumors regarding an impending 51% attack against the Ethereum Classic network. Although some earlier attempts remained nothing but speculation, 51Pool is forging ahead with its plans to destroy the ETC network. This goes to show how some people in the Ethereum community respond when the going gets tough. Ever since....
Ethereum Classic is preparing another hard fork. It was announced in statements published last week that the project’s development and mining community is committing to a change in its monetary policy by December of this year. Essentially a move to a new protocol, all current Ethereum Classic users and miners should have upgraded their software by then. If everyone does not upgrade their software, the project can split into two incompatible networks, blockchains and currencies. Of course, that is exactly how Ethereum Classic itself broke away from the Ethereum Foundation’s Ethereum last....