The cavalry is finally coming? ETC Labs calls for reinforcements to better protect Ethereum Classic (ETC) after its 3 attacks at 51%. Defense strategies are being put in place, the operational should soon follow to release something concrete.
3 attacks, 3 defenders for ETC
The developer team atETC Labs announced the participation ofOpenRelay and of ChainSafe in the design and execution of their security plan, Network Security Plan.
After the series of 51% attacks that severely shaken user confidence, ETC Labs has strived to develop solutions to protect the network.
They are currently the subject studies and tests to guard against other attacks of this type.
These solutions could potentially help to eliminate this vulnerability recurring which affects all blockchains based on the Proof of Work consensus.
The list of 2 new players
OpenRelay is a web3 infrastructure provider, the company created the tool Rivet, an open-source gateway designed to protect users from the exploitation of their personal data.
As part of the plan developed by ETC Labs, the role ofOpenRelay is to build simulation models and design the infrastructure of the testnet.
ChainSafe Systems is a firm specializing in research and development in the field of blockchain.
The firm actively contributes to the ecosystems ofEthereum (ETH), Ethereum Classic, Cosmos, Polkadot (DOWRY) or Filecoin.
ChainSafe provides expertise in reviewing security proposals and specifications.
In August 2020, ETC Labs announced the implementation of emergency measures based on the organization and harmonization of mining to maintain a constant hash rate.
ETC Labs recently stated that regulating the leasing activities of this power could be the key to limiting future attacks: indeed, some of the leased power on NiceHash would be at the origin of the 2 attacks orchestrated on the network ETC.
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Will these reinforcements be enough to create a strong enough wall against future attempts at 51% attack on Ethereum Classic? Yam Finance has recovered well from a critical flaw that nearly wiped out its token price, so ETC has every chance as long as its community continues to support it. And 1, 2 and 3 – 0 at the moment in favor of the opponents, but a single goal from ETC could restart the game in their favor. Nothing is lost yet until the referee’s final whistle!
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