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ETC Labs Announces ETC Security Fixes to Fight 51% Attacks

Blockchain development company ETC Labs has revealed fixes to improve Ethereum Classic’s (ETC) defenses against 51% attack on August 19, following multiple  incidents over the past few weeks that have damaged the network’s reputation.

  • Fix is only a short-term solution, with medium term and long term solutions requiring community consensus
  • Long term proposals include introducing PirlGuard or check-pointing for 51% attack resistance, changing the mining algorithm and forming a treasury system
  • These stronger and more robust solutions are expected within the next 3-6 months 
  • SHA3 and RandomX are the two mining algorithms being considered
  • Changes will occur over 5 phases, with the last change being implementing the new mining algorithm

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