Ethereum Classic are doing all it takes to keep their commitment to sustain the original censorship resistant Ethereum going. Lot of new challenges are cropping and they are trying to do their best to achieve consensus from the different solutions that come their way.
Sometimes it is okay to evolve and ETC are trying to work things out to ensure that they are not losing out on positive evolution by being too rigid on their traditional commitments. We need to see how things will unfold.
ETC Cooperative are actively accelerating the growth of Ethereum Classic. ETC Cooperative is a tax-exempt USA public charity with 501(c)(3) status. There is no official anything in ETC.
ETC Cooperative recently tweeted: “Sergio Lerner (@SDLerner) of IOV Labs, the team behind @RSKsmart, has authored a proposal to help detect and deter double-spend attacks on #EthereumClassic.”
Sergio Demian Lerner stated that it’s based on using RSK and Bitcoin to make attacks visible with merge-mined visibility proofs and the same Fork Detection System that runs for RSK (Armadillo). Further details are available in Github.
ETC cooperative also introduced @Fork_Watch, a @NiceHashMining monitoring tool, created by Yaz Khoury (@Yazanator). It detects anomalies and alerts stakeholders of potential unfolding 51% rental attacks. Many thanks Yaz for your work on this project.
Yaz Khoury recently stated, since the ETC 51% attacks, I’ve been working for 2 weekends on a tool to detect anomalies in the NiceHash Market for all algorithms offered. The result of this effort is my new app called @Fork_Watch
Sydney Ifergan, the crypto expert tweeted: “Ethereum Classic (ETC) developers are working to come up with practical and innovative solutions since the 51% attack. They know that security is paramount.”
An elaborate ETC Network Security Plan is already published. Coinbase have published an analysis of the recent events on ETC. They have been talking about how ETC have recently experienced multiple double spend incidents. They also stated that Coinbase was not targeted and that they did not lose any funds. They have provided an exhaustive analysis of the events.
The 51% attacks did lead to a precipitous decline in price; however, the security roadmap seems promising and things should resume for good when the network plans are implemented as published. Whether by introducing the Treasury system with community consensus or otherwise, it is about security and they will do all it takes to ensure it. They have clear short-term and long-term goals in place to set things back to normal.
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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