Ethereum Classic
ETC
About
Ethereum Classic, like ethereum, supports smart contracts and decentralized applications (dapps). It originated from a contentious hard fork of the ethereum blockchain that took place in 2016. Following the creation that year of a decentralized autonomous organization, dubbed The DAO, atop the Ethereum blockchain, hackers managed to exploit vulnerabilities and stole about $60 million of ether. After much debate, the Ethereum network’s code was altered to return the lost funds to investors. But some ethereum nodes objected to the fork on the grounds that it would mean that the blockchain would not be immutable, among other reasons, and decided that they would not run the updated software. These nodes continued to run and mine the pre-fork version of the ethereum blockchain, and it’s now known as ethereum classic.
Foundations - Consensus: Distributed
May 13, 2020
May 13, 2020
Three 51% attacks on the Ethereum Classic network have not yet made a significant impact on the price of its cryptocurrency.
The leading organization supporting the Ethereum Classic network hopes to better safeguard against future 51% attacks by going after platforms that rent out hashing power.
Ethereum Classic Hit by Third 51% Attack in a Month
August has been an awful month for Ethereum Classic as the blockchain suffered yet another 51% attack.
The network’s hashrate has fallen 74% since January.
Shaken by weeks of network-overwhelming hacks, ETC Labs has outlined its security response.
First Mover: Bitcoin Passes $12K, Dollar Worries Grow, OMG Jumps, Portnoy’s Orchid #Pump
Bitcoin rises, Warren Buffett buys a gold miner, Wall Street dollars worry grow, OMG's price jumps, Orchid gets #pump tweet, Ethereum Classic's possible delisting.
