The Currency Analytics
By Maheen Hernandez
Slowmist, a China-based security firm reported the attack that happened on Ethereum Classic last Sunday.
Slowmist further requested the cryptocurrency exchanges to help identify the Attacker of Ethereum Classic.
The developers of Ethereum Classic are working with Slowmist to detect the point of origin of these attacks. They are moving forward on actionable items.
Volatility is here to stay. It might seem as if it is not there due to improved consumer confidence and improved earnings.
Ethereum Classic fell prey to a 51% attack. It was expected that the short-term price movements might be affected.
On January 05, 2019, Coinbase detected a chain re-organization of the Ethereum classic blockchain at a deeper level. Double spends were as well noted.
The price of ETC dropped by 5% following the attack. The 51% attack refers to a situation where the hacker has got more than 50% control over the network.
Security continues to be a major concern. And the industry seems to be as unstable as before.
Following the 51% attack, there is panic in the market. There is a confidence decline in the industry on Ethereum Classic.
Regardless of the attack, the empowering technology of Ethereum Classic continues to be solid. The technology continues to be promising.
Ethereum Classic Enthusiasts are optimistic about the fact that ETC will touch upon an all-time high and with further development, it will gain improved adoption.