Altcoins News
By Maheen Hernandez
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Ethereum Classic (ETC) PoW to Keccak-256 (Sha-3)
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ETC Cooperative stated, Ethereum Classic deliberately makes a tradeoff of being very expensive but highly secure, when compared to traditional tech services.
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Users were wondering what they mean by highly secure? In response, yet another user stated, a short term solution called MESS was added in October.
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Also, pointed to how more suitable solutions are getting built now. For those who are new to ETC, the Donald McIntyre explanation is an all-time best explainer to get to know the…
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Also, the supply of ETC is limited to prevent devaluing by inflation; certainty about future supply provides a strong store of value.
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Worthy to recollect that the historical reorganization attacks have only made ETC more resilient.
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Worthy to recollect that the Ethereum Classic experienced a 51% attack in January 2019 and 3 more 51% attacks during the Q3 of 2020 which led to multi-millions in losses from…
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Major exchanges got hit with double spends, and ETC was on a thread for delisting and some mining pools simply removed their ETC service.
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Of note, there used to be a Sha-3 version in Ethereum; however, it is no longer the Sha-3 Standard and the updated Sha-3 Standard produced different hashes than “Sha-3” hashes in…
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To bring down the confusion between Ethereum’s Sha-3 version and the official Sha-3 standard, the Ethereum community has stated referencing to its Sha-3 version as the…
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The growth of ETC seems to be getting slowly accelerated. For now, the need to switch the PoW Algorithm is about Long-term Network Security.
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