August 4, 2020

Attack of 51% in Ethereum Classic network

The team of one of the largest Ethereum mining pools EtherChain has published information about what has been sent to the Ethereum Classic (ETC) network reorganization indicating a possible attack of 51%. The cryptocurrency users were advised to pause deposits and withdrawals in Ethereum Classic until the availability of the property was determined.

Today, the ETC network sent a reorganizationthe last 3693 blocks mined, starting from block 10904146. This is a rule to stop the synchronization of all nodes. Apparently, this is caused by an atomic rate of 51%, so all birges are advised to immediately stop the input and output of media.

After a message to EtherChain, the founder of the ETC development team, James Bu, wrote on Twitter that the team of the project is engaged in investigating the incident.

At the moment of writing the article, Yaz Khouru from ETCCooperative.org expressed the opinion that this event could have come about because of the fact that the color of the mainman could deprive the mind of the idea from the point of view:

"It is possible that the involved miner lost access to the Internet during the time of mining, which is usually by the 12-hour period of mining and the insertion of about 3,000 blocks."

In the first 2000 blocks there was 1 miner and only 5 transactions. Perhaps this was a predetermined attack, since the double charges were not fixed.

According to the words of the expert, transactions that were notrecovered, will be transferred to the memory again during the repeated reorganization. The network will cease to exist in its current form and will include 3000 inserted blocks.

</p></p>