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Is The ETC 51% Attack A Call For New Security Models

There is one question that still lingers in the air which is, are decentralised systems naturally vulnerable to 51 percent attacks? The recent attack against the Ethereum Classic network shows that there are limits of decentralisation and flaws in the current processes of securing digital assets and hints at the ways that these risks can be calculated. 51% attacks Currently, the market is in a state known as ‘crypto winter’ which has a less than favourable effect on the industry. In addition to this, bringing down the prices and eroding margins, the market affected the hash rate required to mine...

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Ethereum Classic (ETC) Very Likely To Outperform Ethereum (ETH) In 2019

Ethereum Classic (ETC) is recovering after a 51% attack that significantly damaged its reputation. However, its price did not suffer the way one would have expected as a result of the backlash on popular social media forums. Perhaps, this was because most of those people that projected the attack as the end of Ethereum Classic (ETC) were not invested in the cryptocurrency in the first place. So, when things normalized, a lot of people took this opportunity to accumulate more which is why we saw Ethereum Classic (ETC) stay its ground even as most other cryptocurrencies tumbled in the weeks...

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Ethereum Classic (ETC) Labs Gets A New Development Team And Price Rallies

Ethereum Classic (ETC) is once again rising from the ashes as it always has. The cryptocurrency which had its reputation marred by debates around the recent 51% attack has just got a new development team, ETC Labs Core. This team is supposed to start where ETC Dev left off but they are going to focus more on things that matter to the average investor. In other words, they are going to focus on building innovative Dapps on the Ethereum Classic (ETC) blockchain and also work towards the IOT (Internet of Things) promise that ETC Dev failed to deliver on. Members...

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If a Cryptocurrency Can’t Be 51% Attacked, Then It Isn’t Decentralized

Recently, 51% attacks have gained some attention in the media due to the recent double-spending attacks on the Ethereum Classic network. This could turn into a growing trend as many altcoins are susceptible to this kind of attack. While most of the recent coverage has been focused on the security issues presented by 51% attacks, Litecoin creator Charlie Lee has pointed out that the ability to be 51% attacked is actually a sign of decentralization. https://twitter.com/SatoshiLite/status/1082491687169998848  Without Permissionless Mining, a Cryptocurrency is Relatively Centralized For the most part, cryptocurrencies use permissionless consensus algorithms like proof-of-work, which allow anyone to participate...

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Why Ethereum Classic (ETC)’s 51% Attack Is Not A Deal Breaker

Chart for ETC/BTC (1D) Ethereum Classic (ETC)’s 51% attack seems to have shocked a lot of people but for the wrong reasons. It is disconcerting for a blockchain of such repute to experience a 51% attack but we mustn’t pretend that such attacks have not happened in the past. Vertcoin and Bitcoin Gold are two other coins that have experienced such attacks in the past. They are doing well, moving along with the rest of the market and there future prospects seem unhindered by the attack. This is because things are happening at such a rapid pace in this space...

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