Ethereum Classic (ETC) experienced a 51% attack from 9 p.m. Jan. 6 to just after midnight on Jan. 7, resulting in a blockchain reorganization hundreds of blocks deep. The news of the attack has pushed ETC’s price down by 7 %, shaving off $40 million off its market cap.
We can confirm that there was a successful 51% attack on the Ethereum Classic (#ETC) network with multiple 100+ block reorganization. We recommend all services to closely monitored the chain and significantly increase required confirmations.
— Bitfly (@etherchain_org) January 7, 2019
ETC in trouble
Ethereum’s Constantinople hard fork
Scheduled in about a week’s time, Ethereum’s Constantinople hard fork is expected to slash the mining rewards from three Ether to two. In addition, the developers are considering including ProgPoW in the fork, which would block ASIC miners.
until #BTC #ETH #LTC #ETC go ASIC resistant by the numbers they are centralized
— Big Red Machine ??? (@xrpizzle) January 7, 2019