The success of Ethereum Classic hadn’t gone by unnoticed, and one user on Twitter is already threatening to 51% attack the network hashrate. Although it is impossible to tell whether or not this person is serious, there is a good reason why people can’t have nice things in this world. But there is good news too, as a party client for ETC will be developed by the look of things.
ETC 51% Attack Threat and Parity Client
Starting off with the bad news, Twitter user Chandler Guo claims he will perform a 51% attack on the Ethereum classic blockchain. As most people are well aware, such an attack could lead to that blockchain forking, rendering a lot of coins useless. Right now, it is anybody’s guess what the motive behind such an attack could be, or if this threat should even be taken seriously.
I am Chandler Guo, a 51% attack on Ethereum Classic (ETC) is coming with my 98G hashrate https://t.co/9VM6vPa8CS
— Chandler Guo (@ChandlerGuo) July 24, 2016
It would not be a complete surprise if this were to be a serious threat, though. Ethereum Classic has been getting a lot of attention today, and many Ethereum die-hards are not too amused by this alternative currency. Then again, there is support for this censorship-resistant fork of Ethereum, making it a most valid project.
But there is some good news as well, as there will be a Parity client for Ethereum Classic. Interestingly enough, this client is being developed by Gavin Wood, one of the main Ethereum developers and contributors. A noble gesture for sure, and perhaps an indication Gavin wants nothing to do with the whole The DAO shenanigans that have taken place.
Upcoming #parity #ethereum classic client… pic.twitter.com/Bw29T5JGXb
— Gav Would (@gavofyork) July 24, 2016
What this means is there will be an official lightweight client for Ethereum Classic shortly. There will still be a strong focus on security, but also portability. It would also present with a proper solution for most people to move funds out of the Poloniex and Bitsquare exchange wallets.
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Ethereum has completely lost me this last round for itself and other swiss army knife coins.
There are comparably very few alts with active services up and running that anyone reasonable should speculate or invest in.
From my perspective (which i agree isn’t perfect) these pie in the sky coins are becoming long in the tooth trying to reinvent reality itself. Coding stable services and secure stores of value is work enough withtout adding unproven governing models on those unproven services.
Ethereum still offers absolutely nothing and should not be valued anywhere near 1bil market cap. People think The DAPP was a bad investment wait until reality sets in on Ethereum itself.
Agreed. But I do see some services coming to fruition in the one-year timespan based on ethereum like Yours and Augur. Hopefully this DAO debacle and aftermath get resolved soon.
You sound like the morons years ago who said the internet would never take off and be used by most people. Ethereum has got to a billion in market cap in a very short time as people see and understand the potential of this technology.
everyone has their moment including Alex Darby
but this isn’t about anything but my investment money discussed on a public forum fella
as for your billion dollar valuation it is based on no profits to speak of, it is based on no productivity that merits such a value, it is also reflective of the morons who poured ridiculous amounts of fiat into the dotcom bubble
for a more recent example see The DAPP, talk about everybody gotta have some Kool-Aid….Ohhh Yeah!
show me income and productivity and I’ll show you my Satoshi(s)
Yeah, it’s old ETH, not for easy HF SF centralized ETH.
they just doubled the supply to over 200 million over night with freshly mined coins going from 30k a day to 60k. Zambia doesn’t print money as fast as ETH, its inflation on cocaine.
do you think the price is manipulated ? by bots supporting price ? ohhhh yeah
who would buy something for 13$ when you can get its exact copy for 80cent.
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