By Dakus - 12.02.2020
Ethereum classic news 2019
An overview of Ethereum Classic's origins, history and future development roadmap. September 12 , Ethereum Classic core developers implement ETH's to the greater cryptocurrency ecosystem. magazin-show.runews. Trading volume for Ethereum Classic over the last 24 hours is $M USD. There have been 4 news stories on Ethereum Classic over the last 7 days.
Someone had made a deep reorganization in the distributed ledger for Ethereum Classic, a smaller spinoff from the Ethereum coin.
The attackers had pulled off the cryptocurrency equivalent of writing a bad check. Coinbase told The Verge that no wallets controlled by the company or its customers were involved.
Ethereum classic news 2019 wallets get hacked all the time, but this hack was different, striking at the ethereum classic news 2019 itself. The attackers were able to rewrite the supposedly permanent ledger of transactions, something that should be impossible. That raises hard questions about the future of the blockchain, particularly for smaller visit web page. In the most basic terms, the attackers disrupted Ethereum classic news 2019 Ethereum classic news 2019 in order to ethereum classic news 2019 the same money twice.
They sold Ethereum Classic coins for cash, then rewrote ethereum classic news 2019 blockchain so that they came away with both the cash and the coins. Instead, transactions are enforced through a distributed ledger, produced collectively by currency miners.
All they need is enough mining power to overwhelm the ethereum classic news 2019 of the mining pool — hence, 51 percent. As that equipment gets cheaper and more available, the ethereum classic news 2019 become more common.
At the ethereum classic news 2019 of the hack, the difficulty of mining a block of ETC was roughly half of ethereum classic news 2019 September peakwhich means you need a lot less mining hardware ethereum classic news 2019 get to 51 percent than you would have four months ago.
The result is a perfect storm for attackers, who can rent idle mining resources to take over whichever coin is weakest at the ethereum classic news 2019.
But smaller coins are inherently vulnerable, and the risk is only increasing. Ethereum classic news 2019 Weaver, any coin much smaller than that is at risk of a 51 percent attack.
Coinbase support has a huge impact on the price of smaller coins, so such statements are ripe for market manipulation.
But Nesbitt, the engineer in charge of managing those attacks, disagreed that the support was negligent.
The Ethereum classic news 2019 regrets the error. Next Up In Tech.
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