Ethereum Classic is using an idea Vitalik Buterin had in 2014 to help fend off 51% attackers.
Ethereum Classic News
Ethereum Classic is a blockchain-based smart contract platform for powering decentralized applications, or DApps.
This blockchain and its native cryptocurrency, ETC, are the result of a split in the Ethereum network following the infamous DAO hack of July 2016, in which an attacker compromised 3.6 million Ether (ETH) — one of the largest hacks in history — creating a rift in the Ethereum community on how to respond: accept the hack had happened and fully commit to the ethos of censorship-resistance and immutability, or gauge community sentiment informally and save the funds through a hard fork. Supporters of the first option maintained the legacy chain and transaction record after the fork, resulting in Ethereum Classic.
While the network is cross-compatible with Ethereum applications, with shared architecture and programming language support, the network later adapted a completely new monetary policy and design roadmap from its progenitor. In March 2017, Ethereum Classic adopted a fixed supply cap and ETC issuance rate more similar to Bitcoin than Ethereum. The network has also committed to proof-of-work consensus in contrast to Ethereum’s long-planned transition to proof-of-stake.
The quest to protect Ethereum Classic continues.11772
Game theory suggests ways for Ethereum Classic to deter double-spend assaults, say MIT researchers.12295
Regulatory compliance requirements are becoming increasingly important.2909
Would any well-intended miner propose a deep chain reorganization?3000
Will Ethereum Classic's community accept this new solution from Charles Hoskinson's IOHK?12065
Enacting such legislation effectively could be a major challenge, however.5424
- Charles Hoskinson's IOHK submitted a decentralized treasury proposal to the Ethereum Classic community
Would a 20% block reward reduction matter in the long run?7821
Major changes could be coming to the network.7720
Multiple Ethereum Classic blockchain attacks leave significant discussions on what actually happened.10681
ETC’s bad month isn’t over yet.4944
It’s a clash of the crypto titans.5386
ETC quickly sidelines an interesting offer from Charles Hoskinson.14071
After a string of 51% attacks on Ethereum Classic, developers from its core chain rival, Ethereum, discuss ways of avoiding the same fate.6008
Despite suffering its second 51% in a week, and major exchanges disabling deposit, withdrawal, and some trading services, Ethereum Classic is up 2% over yesterday.5457