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  1. Ethereum Classic ($ETC) suffered a major incident a few days ago. A reorg happened, allowing a rogue miner to add more than 3,000 blocks in the chain, during a time when the major ETC miner "2Miners" was down for maintenance. Researchers are still trying to find if this was an intentional attack on the Ethereum blockchain, although it seems that it could be a rare occasion as the blocks mined by the rogue miner were mostly empty (not containing transactions). The price of Ethereum Classic was not affected by this event although it certainly sents a message that not all blockchains are as secure as they claim. Source: Coinmarketcap What is Ethereum Classic: Ethereum Classic (ETC) was the result of a fork on the original Ethereum chain in 2016, when Ethereum developers decided to erase transactions in the Ethereum blockchain, after the events of the DAO incident. Ethereum classic is the continuation of the Ethereum chain without this fork being applied. Miners and devs that disagreed with the Ethereum devs of erasing transactions (which stole $50 million from investors) continued supporting the chain unpatched and split from the original Ethereum chain, creating Ethereum Classic. The Ethereum Classic blockchain has already suffered a 51% attack once (in January 2019 - link) having seen transactions getting reversed and double-spend, with the attackers profiting with $1,1m from this. What is a 51% attack: A 51% attack is the major weakness of blockchain systems, meaning that an entity that takes over 51% of the network hash rate gets to decide which blocks are valid and gets to invalidate past blocks according to the time they retain their PoW dominance. Such attack invalidates decentralization and makes the blockchain and the coin useless as the entity in charge can spend transactions (i.e. sell move to exchange and sell for USD/BTC/etc.), instantly invalidate the block containing the transaction which sends the coins to the exchanges and double-spend the coins by sending them (and selling them) again. Similar attacks have happened on many other cryptocurrencies like Bitcoin Cash, Verge, Bitcoin Gold, and more. A 51% attack is hazardous and can destroy the price of a cryptocurrency as the system which is based on trusting the code breaks apart. A blockchain that is not secure has no reason to exist. Source: Hackernoon Results of ETC 51% attack in 2019: After the 2019 51% attack on ETC, major exchanges as Kraken and Coinbase increased the number of confirmations for depositing ETC on their websites to 43,000 blocks, meaning that anyone wanting to send his ETC coins to these exchanges would require a week to see them deposited. Perhaps this is a reason which deters massive sell-off of ETC at this point when the Ethereum Classic blockchain once again looks weak. Source: Google [EDIT]: It seems that Ethereum Classic was 51% attacked twice in a week after 4,000 blocks were re-orged and around $6million were double spend. You can read the latest coindesk news on this here.
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