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Ethereum Classic (ETC) currently suffers a 51% hash attack and double spending is approaching $ 500,000 dollars.


According to Coinbase website today, January 5th 2019, a deep reorganization of the Ethereum Classic blockchain chain was detected. That included a double expense of over $400 thousand dollars. To protect client funds, Coinbase immediately stopped the movement of funds in the ETC blockchain.

Coinbase will continue to monitor network status and more information will be announced on this page.

Charlie Lee, the creator of Litecoin, commented on Twitter about the event. And warn of the dangers of investing in coins that are not dominat in respect to mining algorithm .




In the case of Ethereum Classic, the cost of an attack that causes 51% network hash rate control is only $ 5,000 per hour. A very low cost when compared to the cost of attacking Bitcoin, Litecoin and Ethereum.

According to www.crypto51.app the hardware cost to attack Bitcoin network at its cheapest would be of $ 318,603 dollars. A much higher cost of attack than ETC, making the possibility of attack less feasible. Respectively, the cost of an Ethereum attack is $ 97,376. Also, to attack Litecoin the cost would be $ 22,074 per hour at the moment.

To stay current at the cost of an attack for each currency crypto and also see the percentage of NiceHash-rate of each one go to the Crypto51 site and find an updated list.




By: MamãeCrypto

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