Home Blockchain Ethereum Classic (ETC) 51% attack Chain Split and Getting Back to Be Operational Dispensing Payouts

Ethereum Classic (ETC) 51% attack Chain Split and Getting Back to Be Operational Dispensing Payouts

Ethereum Classic Attack Chain

The community is all talks about the 3600+ block reorg which has eventually led to a chain-split.

Bitquery.io tweeted:  “We have updated our #EthereumClassic node software from openethereum to geth to overcome the consequences from the 51% attack, which broke all openethereum nodes. We will share databases of both versions of blockchain with all interested parties.”

On August 2, 2020, 2 Miners tweeted:  “Ethereum Classic Pools Are Fully Operational Blocks are being mined, payouts are processed.”

For those who do not know, It is a bit disturbing to recollect the 51% attack which happened in Ethereum Classic.  One of the miner generated more than 3500 blocks.  This became a like a huge fork.  He has been mining these blocks for a long time and he broad casted it later to other miners. Reportedly, since this block was heavier than the regular chains built by the sum of all other miners, they had to accept these blocks and therefore replacing the history of the ETC blockchain with that of the Attacker.

The sooner the attack took place, Yaz Khoury, Director of Developer Relations @Yazanator provided the timeline of events and further details on the network impact and next steps forward for network participants in his blog post.

Ethereum Classic Tweeted:  “Not all software run by nodes and miners, behave the same. The diversity of versions and software made the accident worse than it could be. Ethereum Classic 51% Chain Attack July 31, 2020.”

Ethereum Classic (ETC) Improved Mining Support

It was noted that all nodes did not process it equally.  There were nodes based on Open Ethereum which did not accept the blocks from the attacker.  This led to fork on the block chains.

From the user’s point of view, some of the transfers which were made “during 12 hours, starting from 16:30 UTC July, 31, till 3:30 AM August, 1st” did not appear in the wallet. This is bad for miners because several miners lost the amount of ETC they mined during the attack.

Some of the miners also spent more of hashing power and they were also mining wrong blocks to the old fork following the attack.

ETC Cooperative tweeted:  “Indeed, @etc_core. Work is beginning on improved mining support on Hyperledger Besu, but for the time being we can only recommend Core-Geth for ETC miners.”

Further, Sydney Ifergan, the crypto expert tweeted:  “It is not good to see that a 51% attack can challenge the PoW like what we saw in ETC.”

Those who were on the wrong chain were alerted and they were asked to switch over to ensure being on the correct chain.

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Maheen Hernandez

A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5

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