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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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Has Ethereum Classic (ETC) Failed As A Cryptocurrency Investment?

Ethereum Classic (ETC) has remained strong above the trend line support. For a cryptocurrency that just suffered a 51% attack, this is some solid resilience. It is like Ethereum Classic (ETC) community has not been affected at all by the recent attack. They are still loyal to the cryptocurrency which is why it loses the least after Bitcoin (BTC) and stable coins during a market crash. We have seen this pattern repeat over and over again. Ethereum Classic (ETC)’s community appears to be more loyal than the Ripple (XRP) community. The difference is that the ETC community is a lot...

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$100k Of ETC 51 Percent Hack Returned to Exchange

Last week saw Ethereum Classic fall victim to a 51 percent hack and now, the hackers have returned $100,000 in ETC to the Gate.io cryptocurrency exchange. On Saturday, the cryptocurrency exchange said that $100,000 in Ethereum Classic has been returned after a recent hack. In the announcement for the news, the exchange further said that it tried to contact the 51 percent hacker but it hasn’t received any reply so far by adding “we still don’t know the reason. If the attacker didn’t run it for profit, he might be a white hacker who wanted to remind people of the...

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TRX Starts 2019 Off With A Bang As BTC & ETC Fall Victim To New Year

As we move further into the new year, we are starting to see some crypto projects really stand out as contenders for 2019. More than any others, TRON TRX - a cryptocurrency backed by a project that promises the most exciting growth during 2019. On the other hand, some other projects haven’t started the new year with quite the impact they would have hoped, namely Bitcoin, the world’s leading cryptocurrency and Ethereum Classic, the ever popular Ethereum spinoff, which has fallen victim to quite a large scale hack during the past week. Before we continue, let’s just note that the...

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