Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Selina31 on August 06, 2020, 02:02:29 PM
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Vitalik advised ETC to switch on the PoS from PoW, with minimum risk.Neutral face. Read more
https://the Url is blocked due to spam #Cpspam/news/etc-suffers-another-51-attack-rollback-of-over-4000-blocks-etc/
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Everything has a price and ETC team is learning the hard way, if there is no incentive for people to protect a common property their will surely be an abuse of the property. Low hashing power behind ETC means it would continue to experience this type of attack. It is time the team look at the mirror and tell themselves truth about this. If they fail to come to right decision this could be the beginning of the end for ETC
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Obviously ETC has been out of the top 10 in the cmc. it was a terrible act and over 10,millions was lost. a huge blow to ethereum classic and to the entire crypto market. it was strange that the hacker paid over 180,000 to buy etc and on the process made the hacking option which was successfully and a huge lost.
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When I read this article yesterday I am somehow feels how did this happened. Its not shocking as to find some flaws to those hackers. Thats why Vitalik suggested to migrate in PoS cause he thinks that consensus is much lighter and has an improved security measures. Done is done. But this is a huge blow for ETC and could also affect its price.
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ETC people should heed any good suggestion that should be preventing the part 3 of the attack otherwise ETC will slowly wither and maybe even just be forgotten. Here in cryptocurrency, trust is a commodity that one should be earning with a great price. Anybody forgetting that truth is doom to "die" naturally.
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Vitalik advised ETC to switch on the PoS from PoW, with minimum risk.Neutral face. Read more
https://the Url is blocked due to spam #Cpspam/news/etc-suffers-another-51-attack-rollback-of-over-4000-blocks-etc/
I agree with this Advised I believe Mr Buterin is right, those attacks are only possible through Pow (Proof of Work) while in PoS (Proof of Stake) is just Neutral face although the risk was still there, it's just minimal compare to (PoW) and if Ethereum Classic ETC will switch in PoS they should make it more affordable to all users so that users and small investors can afford it.