This is the third time ETC network is experiencing an attack.
The Ethereum Classic network has yet another question to answer on the same issue—a 51% hack for the third time within few weeks. This time, up to 7000 blocks were affected despite talking about security issues lately.
Ethereum Classic tweeted to affirm the attack. It said it was doing something that has the possibility of preventing future occurrences:
“While ETC is still making progress in evaluating proposed solutions, we are aware of the current risk to the network at these low hash rate levels. To miners, exchanges, and other service providers we suggest keeping confirmation requirements levels well above 7K for now.”
Few weeks ago, developers brought up some likely solutions for this problem and they said it would take about three to six months for it to be fully installed. But for the meantime, proposed solutions include improving network surveillance and discouraging chain reorganization.
According to Ethereum Classic, it is at “~3% of the overall network hashrate.” It also knows that more attacks may happen if changes are tried on the network while attempting to solve the current problems.
Before the Aug 29 attack, ETC had already suffered two attacks earlier in the month. ETC is now at the risk of being delisted on exchanges such as OKEx.