Ethereum Classic’s MESS Solution Won’t Provide ‘Robust’ Security Against 51% ...
A solution being implemented to safeguard against so-called 51% attacks on the Ethereum Classic (ETC) network may not be as secure as suggested, according to a new analysis.
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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....
Ethereum Classic lost more than 10% of its value today with price standing just above $1 as the network comes under sustained dos attack. The attacks are similar to those experienced by Ethereum over last month. A programmer is exploiting gas mispricing for certain op codes to drain nodes of memory and other resources thus slowing them down. Who or why is a matter of speculation. For ETC, considering the dramatic price movement, it could well be financially motivated and might not even be the original attacker, but a copycat. Ethereum Classic’s Price Crashes as Network Comes Under Dos....
A new scaling solution, zkEVM Rollups, could allow Ethereum to overcome Visa in terms of transaction throughput, says Polygon co-founder Mihailo Bjelic. zkEVM Rollups, a new scaling solution for Ethereum, will allow the smart contract protocol to outpace Visa in terms of transaction throughput, said Polygon co-founder Mihailo Bjelic in a recent interview with Cointelegraph. Polygon recently claimed to be the first to implement a zkEVM scaling solution, which aims at reducing Ethereum’s transaction costs and improving its throughput. This layer-2 protocol can bundle together several....
It seems all year long, the digital currency community has been abuzz over Ethereum. From its meteoric rise in January, moving from less than #1 USD in value to over $15 USD by mid-February, to the innovative, but ill-fated DAO experiment, Ethereum has been all over the news. This won’t abate anytime soon, as the recent fork and emergence of an “Ethereum Classic” has created a new storm of controversy, leading one leading Bitcoin exchange to attack. When digital currency exchanges attack. Digital currency exchange BTC-e posted on their website’s latest news entry that they see major....
Ethereum Classic is using an idea Vitalik Buterin had in 2014 to help fend off 51% attackers. Over the past weekend, on block 11380000, a solution for the prevention of 51% attacks was introduced to the Ethereum Classic (ETC) community. Several such attacks have recently placed ETC at a crossroads, leaving the very survival of the chain uncertain. In the weeks that followed these attacks, the community worked to evaluate numerous potential solutions. The first one that has been implemented is called MESS, which stands for Modified Exponential Subjective Scoring. Its predecessor was first....