ethereum-classic-suffers-reorganization-that-resembles-51%-attack-amid-miner-complications

Ethereum Classic Suffers Reorganization That Resembles 51% Attack Amid Miner Complications

Ethereum Traditional (ETC) suffered a 3,693-block chain reorganization early Saturday morning, an event first regarded as a seemingly 51% assault, after a miner passe venerable tool after having been offline, per Terry Culver, CEO of Ethereum Traditional Labs.

  • The reorganization precipitated all impart-pruned nodes to prevent syncing and is “probably precipitated by a 51% assault,” cryptocurrency miner Bitfly in the commence wrote on Twitter.
  • In a later document, Ethereum Traditional builders talked about the reorganization instead can maintain resulted from “the offending miner [having] lost salvage entry to to web salvage entry to for some time when mining,” a scenario later confirmed by Culver.
  • While this is getting sorted out, “exchanges must discontinuance [ETC] deposits and withdrawals,” talked about Hudson Jameson, developer on the Ethereum Foundation.
  • Saturday’s reorganization lasted for roughly 15.4 hours value of blocks, assuming the protocol’s aim 15-2nd block cases. 
  • A reorganization happens when two variations of a blockchain compete for validity from nodes in the community. By some means, one chain of blocks will safe a majority of the mining hash energy and “device end,” leaving the competing model to be “orphaned” or abandoned. On this case, an venerable model of ETC is vying to replace basically the most present model with itself.
  • As a lot as now, the ETC market appears unaffected by the records, having received bigger than 1% over the last 24 hours, per Messari.
etc-51
Notification of the ETC chain reorg shared on Twitter by Bitfly
Source: Bitfly’s Twitter

Replace (August 1, 15: 17 UTC):  This article has been updated with an estimate of the assault price.

Replace (August 1, 16: 28 UTC): This article has been extra updated to copy that the event used to be probably now not a malicious act, but an accidental one whereby an offline miner came abet on-line using an venerable model of ETC. That event then mimicked a 51% assault.

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