Ethereum Classic Collaborates with ChainSafe, OpenRelay to Avoid Further 51% Attacks September 20, 2020 September 20, 2020 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Ethereum NewsSeptember 20, 2020 by Kelly Cromley

Ethereum Classic Collaborates with ChainSafe, OpenRelay to Avoid Further 51% Attacks

Ethereum ClassicFollowing multiple security breaches, Ethereum Classic Labs is collaborating with OpenRelay and ChainSafe with the aim of strengthening its guard against 51% attacks.

In a medium post, Ethereum Classic has revealed that its Core Dev Team will collaborate with both ChainSafe and OpenRelay to build and trial responsiveness of security.

James Wo, founder and chairman of Ethereum Classic Labs, stated that the collaboration is very logical:

“OpenRelay and ChainSafe are both well acquainted with Ethereum Classic, through working together, will have some of the most brilliant minds in blockchain tackling the 51% problem in tandem. The team-up will bring additional expertise in Proof-of-Work security systems and testing environments.”

OpenRelay will assist Ethereum Classic to “develop practical simulations and models for the proposed features, establishing testnet infrastructure, and designing and implementing testnet tests” while ChainSafe works for examination of several security suggestions to maintain safe network.

In August, Ethereum Classic faced a minimum of three 51% attacks, which resulted in the issue of delisting warning by cryptocurrency exchanges such as OKEx, in case no efforts are made to improve security of the blockchain.

The core team, insistent on enhancing security, stated that appropriate regulation is necessary to prevent future attacks by restricting hashpower rental firms. The core team highlighted that two of the attacks were meted out using hash power rented from NiceHash.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.