Bitcoin Forum
January 20, 2022, 08:56:36 PM *
News: Latest Bitcoin Core release: 22.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1] 2 »  All
  Print  
Author Topic: If Ethereum classic can be hacked, what is stopping someone from doing it again?  (Read 185 times)
yat97
Member
**
Offline Offline

Activity: 139
Merit: 14


View Profile
March 03, 2021, 08:00:38 PM
 #1

I've actually been interested in getting some ETC classic because there is a finite supply.... but... what is stopping a hack and I lose my funds?
1642712196
Hero Member
*
Offline Offline

Posts: 1642712196

View Profile Personal Message (Offline)

Ignore
1642712196
Reply with quote  #2

1642712196
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1642712196
Hero Member
*
Offline Offline

Posts: 1642712196

View Profile Personal Message (Offline)

Ignore
1642712196
Reply with quote  #2

1642712196
Report to moderator
1642712196
Hero Member
*
Offline Offline

Posts: 1642712196

View Profile Personal Message (Offline)

Ignore
1642712196
Reply with quote  #2

1642712196
Report to moderator
1642712196
Hero Member
*
Offline Offline

Posts: 1642712196

View Profile Personal Message (Offline)

Ignore
1642712196
Reply with quote  #2

1642712196
Report to moderator
ryzaadit
Legendary
*
Offline Offline

Activity: 1624
Merit: 1110



View Profile
March 03, 2021, 08:25:35 PM
 #2

I believe you are talking about 51% attack on the network blockchain.

If you think only happen on ETC, this also can happen to all cryptocurrency with PoW algorithm. The attacker will use the double-spending method to steal the cryptocurrency most of their target always exchange.

More detail : https://www.coindesk.com/video/the-51-hack-on-ethereum-classic-explained

.freebitcoin.       ▄▄▄█▀▀██▄▄▄
   ▄▄██████▄▄█  █▀▀█▄▄
  ███  █▀▀███████▄▄██▀
   ▀▀▀██▄▄█  ████▀▀  ▄██
▄███▄▄  ▀▀▀▀▀▀▀  ▄▄██████
██▀▀█████▄     ▄██▀█ ▀▀██
██▄▄███▀▀██   ███▀ ▄▄  ▀█
███████▄▄███ ███▄▄ ▀▀▄  █
██▀▀████████ █████  █▀▄██
 █▄▄████████ █████   ███
  ▀████  ███ ████▄▄███▀
     ▀▀████   ████▀▀
BITCOIN
DICE
EVENT
BETTING
WIN A LAMBO !

.
            ▄▄▄▄▄▄▄▄▄▄███████████▄▄▄▄▄
▄▄▄▄▄██████████████████████████████████▄▄▄▄
▀██████████████████████████████████████████████▄▄▄
▄▄████▄█████▄████████████████████████████▄█████▄████▄▄
▀████████▀▀▀████████████████████████████████▀▀▀██████████▄
  ▀▀▀████▄▄▄███████████████████████████████▄▄▄██████████
       ▀█████▀  ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀  ▀█████▀▀▀▀▀▀▀▀▀▀
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
.PLAY NOW.
Oshosondy
Sr. Member
****
Offline Offline

Activity: 602
Merit: 470


Learning will not make you spam


View Profile
March 03, 2021, 08:25:43 PM
 #3

A coin that has a blockchain that was hacked two times, I can not trust such a coin. I read way back last year when it was hacked again that certain measures has been deployed to make sure this never happens again, but I rather go for cryptocurrencies that are not hacked before than the ones that have being hacked two times.

If you think only happen on ETC, this also can happen to all cryptocurrency with PoW algorithm. The attacker will use the double-spending method to steal the cryptocurrency most of their target always exchange.
I do not know of any other blockchain, but can not happen to bitcoin blockchain which is getting stronger all the time than before.

.
Duelbits
            ▄████▄▄
          ▄█████████▄
        ▄█████████████▄
     ▄██████████████████▄
   ▄████▄▄▄█████████▄▄▄███▄
 ▄████▐▀▄▄▀▌████▐▀▄▄▀▌██

 ██████▀▀▀▀███████▀▀▀▀█████

▐████████████■▄▄▄■██████████▀
▐██████████████████████████▀
██████████████████████████▀
▀███████████████████████▀
  ▀███████████████████▀
    ▀███████████████▀
.
         ▄ ▄▄▀▀▀▀▄▄
         ▄▀▀▄      █
         █   ▀▄     █
       ▄█▄     ▀▄   █
      ▄▀ ▀▄      ▀█▀
    ▄▀     ▀█▄▄▄▀▀ ▀
  ▄▀  ▄▀  ▄▀

Shows

   ▄▄▀▀▀▀▀▀▀▄▄
 ▄▀ ▄▄▀▀▀▀▀▄▄ ▀▄
▄▀ █ ▄  █  ▄ █ ▀▄
█ █   ▀   ▀   █ █  ▄▄▄
█ ▀▀▀▀▀▀▀▀▀▀▀▀▀ █ █   █
█▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█  █▄█
█ ▀▀█  ▀▀█  ▀▀█ █  █▄█

Slots
.
        ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▄
        █         ▄▄  █
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▄       █
█  ▄▄         █       █
█             █       █
█   ▄▀▀▄▀▀▄   █       █
█   ▀▄   ▄▀   █       █

Blackjack
|█▀▀▀▀▀█▄▄▄
       ▀████▄▄
         ██████▄
▄▄▄▄▄▄▄▄█▀    ▀▀█
████████▄        █
█████████▄        █
██████████▄     ▄██
█████████▀▀▀█▄▄████
▀▀███▀▀       ████
   █          ███
   █          █▀
▄█████▄▄▄ ▄▄▀▀
███████▀▀▀
|||
[ Đ ][ Ł ]
AVAILABLE NOW
ryzaadit
Legendary
*
Offline Offline

Activity: 1624
Merit: 1110



View Profile
March 03, 2021, 08:45:23 PM
Merited by Bttzed03 (1)
 #4

I do not know of any other blockchain, but can not happen to bitcoin blockchain which is getting stronger all the time than before.
Dude, everything can happen as long you have enough power source on the network to do that.

If you don't know about the 51% attack, try to read first and your question is bitcoin can get a 51% attack? the answer was yes but you need to have a lot resource to dot that because is not easy to dominate the network with more than 51%.

This problem will be always a problem for the PoW algorithm.

.freebitcoin.       ▄▄▄█▀▀██▄▄▄
   ▄▄██████▄▄█  █▀▀█▄▄
  ███  █▀▀███████▄▄██▀
   ▀▀▀██▄▄█  ████▀▀  ▄██
▄███▄▄  ▀▀▀▀▀▀▀  ▄▄██████
██▀▀█████▄     ▄██▀█ ▀▀██
██▄▄███▀▀██   ███▀ ▄▄  ▀█
███████▄▄███ ███▄▄ ▀▀▄  █
██▀▀████████ █████  █▀▄██
 █▄▄████████ █████   ███
  ▀████  ███ ████▄▄███▀
     ▀▀████   ████▀▀
BITCOIN
DICE
EVENT
BETTING
WIN A LAMBO !

.
            ▄▄▄▄▄▄▄▄▄▄███████████▄▄▄▄▄
▄▄▄▄▄██████████████████████████████████▄▄▄▄
▀██████████████████████████████████████████████▄▄▄
▄▄████▄█████▄████████████████████████████▄█████▄████▄▄
▀████████▀▀▀████████████████████████████████▀▀▀██████████▄
  ▀▀▀████▄▄▄███████████████████████████████▄▄▄██████████
       ▀█████▀  ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀  ▀█████▀▀▀▀▀▀▀▀▀▀
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
.PLAY NOW.
meanwords
Full Member
***
Offline Offline

Activity: 1512
Merit: 160


View Profile
March 04, 2021, 02:47:08 AM
 #5

I've actually been interested in getting some ETC classic because there is a finite supply.... but... what is stopping a hack and I lose my funds?

Well, it's not as easy as one, two, three. The reason why ETC had their security compromised is because of their negligence. They didn't actually take into account that someone would 51% attack them (because it's really really rare), and some rich guy really did. And I think at the time, the mining difficulty of ETC was half of its peak which made it more easier to attack.

I think ETC is actually the first crypto I've seen that suffered this. To be honest, I wouldn't trust this cryptocurrency.  
maxreish
Sr. Member
****
Offline Offline

Activity: 1260
Merit: 325


View Profile
March 04, 2021, 03:05:42 AM
 #6

Perhaps you can just leave that plan of buying ETC and just reconsider another coin to buy. (If you are planning of buying it for a long teem hold?
 Shitcoin will always be  a shitcoin. I can't see any progress on them. And that attack on their network was just a proof that they have poor security system.
 
 You can't definitely stop hackers from doing the hacks again. If they find an opportunity to attack, they will certainly repeatedly do it.
codpku
Member
**
Offline Offline

Activity: 336
Merit: 10


View Profile
March 04, 2021, 07:39:00 AM
 #7

no can predict that but i believe that ethereum classic won't it happen for three times, i believe team improve their security more and more after that second attack
but lot of great coin out there be wise and choose one and don lose your money again

Bttzed03
Legendary
*
Offline Offline

Activity: 1568
Merit: 1033



View Profile WWW
March 04, 2021, 07:52:56 AM
 #8

.... but... what is stopping a hack and I lose my funds?
Stopping a 51% attack as @ryzaadit already pointed out.

1. More community support and more nodes running the software to help strengthen the network.
2. Developers upping their game to prevent future attacks. I'm sure they have plans but it's still a matter of execution.

You are probably attracted to ETC because it's also cheaper but if you don't want to stress yourself from another 51% attack, stick with Bitcoin.


        ▄▄▀▀▀▄▄
     ▄▄▀▄▄███▄▄▀▄▄
  ▄▄▀▄▄█████████▄▄▀▄▄
▄▀▄▄█████ ██▄▄▄▄▀██▄▄▀▄
█ ██████ ▄ █████ ████ █
█ █████ ▄█▄ ██ ▄█████ █
█ ████ ▄███▄ ██ █████ █
█ ███ ▄█████▄ ██ ████ █
▀▄▀▀█▄███████▄██▄██▀▀▄▀
  ▀▀▄▀▀█████████▀▀▄▀▀
     ▀▀▄▀▀███▀▀▄▀▀
        ▀▀▄▄▄▀▀

       ▄▄▄▄▄▄▄
   ▄▄▀▀       ▀▀▄▄
  █               █ ▄
 █   █▀▄ ▀█▀ ▀█▀   █ ▀▄
 █   █▀▄  █   █    █  ▀▄
  █  ▀▀   ▀   ▀   █    █
▄▀ ▄▄           ▄▀    ▄▀
 ▀▀  ▀▀▄▄▄▄▄▄▄▀▀      ▀▄
        ▀▄▄      ▄▄▀▀▄▄▀
           ▀▀▀▀▀▀

                      ▄▄▄
  ▄█▄              ▄███████▄
  ▀████▄▄         ██████▀██████▀
    ▀▀▀████▄▄     ███████████▀
    ▀██▄███████▄▄███████████
     ▄▄▄▀██████████████████
      ▀████████████████████
▀█▄▄     ▀████████████████
  ▀████████████████▀█████
    ▀████████████▀▄▄███▀
       ▀▀██████████▀▀
           ▀▀▀▀▀

               ▄▄   ▄▄
              ▄▀ ▀▀█  █
             ▄▀     ▀▀
         ▄▄▄▄█▄
     ▄█▀▀▀▀▀▀▀▀▀▀█▄
 ▄▀▄▀              ▀▄▀▄
█  █   ▄█▄    ▄█▄   █  █
 ▀█    ▀█▀    ▀█▀    █▀
  █                  █
   █   ▀▄      ▄▀   █
    ▀▄   ▀▀▀▀▀▀   ▄▀
      ▀▀▄▄▄▄▄▄▄▄▀▀

   ▄▄████████████████████▄▄
 ▄██████████████████████████▄
▄████████████████████████████▄
██████████ ▀▀█████████████████
██████████     ▀▀█████████████
██████████         ▀▀█████████
██████████         ▄▄█████████
██████████     ▄▄█████████████
██████████ ▄▄█████████████████
▀████████████████████████████▀
 ▀██████████████████████████▀
   ▀▀████████████████████▀▀

   ▄▄███████████████▄▄
 ▄██▀▀             ▀▀██▄
▄██              ▄▄   ██▄
██        ▄▄▄▄▄  ▀▀    ██
██      ▄▀     ▀▄      ██
██     █         █     ██
██     █         █     ██
██      ▀▄     ▄▀      ██
██        ▀▀▀▀▀        ██
▀██                   ██▀
 ▀██▄▄             ▄▄██▀
   ▀▀███████████████▀▀

   ▄▄███████████████▄▄
 ▄█████████████████████▄
▄██████████████▀▀███████▄
████████████▀▀    ███████
█████████▀▀   ▄   ███████
██████▀▀     █    ███████
████▀       █     ███████
█████▄▄   ▄█      ███████
████████ ██▄      ███████
▀████████ ▀▄███▄▄███████▀
 ▀█████████████████████▀
   ▀▀███████████████▀▀

  ▄▄███████████████▄▄
 █████████████████████
███████████████████████
███████████▀    ███████
██████████  ▄██████████
██████████  ███████████
████████      ▄████████
██████████  ███████████
██████████  ███████████
██████████  ███████████
 █████████████████████
  ▀▀███████████████▀▀

   ▄▄████████████████▄▄
 ▄█████▀▀▀██████▀▀▀█████▄
▄████▀  ▀▀▀    ▀▀▀  ▀████▄
████▀                ▀████
███▀                  ▀███
███       ▄    ▄       ███
██▀      ███  ███      ▀██
██       ▀█▀  ▀█▀       ██
██▄     ▄        ▄     ▄██
▀██▄     ▀▀▄▄▄▄▀▀     ███▀
 ▀███▄▄▄▄▄▄████▄▄▄▄▄▄███▀
   ▀▀████████████████▀▀
Bttzed03
Legendary
*
Offline Offline

Activity: 1568
Merit: 1033



View Profile WWW
March 04, 2021, 08:11:28 AM
 #9

~
The current ethereum is also hard to attack, though it changes algo soon...
Yeah the switching to POS is still an unknown territory for speculative people in the crypto space that's why I wouldn't recommend that over a tested blockchain like Bitcoin yet. OP is also looking for a coin with finite supply which ETH is currently not.


        ▄▄▀▀▀▄▄
     ▄▄▀▄▄███▄▄▀▄▄
  ▄▄▀▄▄█████████▄▄▀▄▄
▄▀▄▄█████ ██▄▄▄▄▀██▄▄▀▄
█ ██████ ▄ █████ ████ █
█ █████ ▄█▄ ██ ▄█████ █
█ ████ ▄███▄ ██ █████ █
█ ███ ▄█████▄ ██ ████ █
▀▄▀▀█▄███████▄██▄██▀▀▄▀
  ▀▀▄▀▀█████████▀▀▄▀▀
     ▀▀▄▀▀███▀▀▄▀▀
        ▀▀▄▄▄▀▀

       ▄▄▄▄▄▄▄
   ▄▄▀▀       ▀▀▄▄
  █               █ ▄
 █   █▀▄ ▀█▀ ▀█▀   █ ▀▄
 █   █▀▄  █   █    █  ▀▄
  █  ▀▀   ▀   ▀   █    █
▄▀ ▄▄           ▄▀    ▄▀
 ▀▀  ▀▀▄▄▄▄▄▄▄▀▀      ▀▄
        ▀▄▄      ▄▄▀▀▄▄▀
           ▀▀▀▀▀▀

                      ▄▄▄
  ▄█▄              ▄███████▄
  ▀████▄▄         ██████▀██████▀
    ▀▀▀████▄▄     ███████████▀
    ▀██▄███████▄▄███████████
     ▄▄▄▀██████████████████
      ▀████████████████████
▀█▄▄     ▀████████████████
  ▀████████████████▀█████
    ▀████████████▀▄▄███▀
       ▀▀██████████▀▀
           ▀▀▀▀▀

               ▄▄   ▄▄
              ▄▀ ▀▀█  █
             ▄▀     ▀▀
         ▄▄▄▄█▄
     ▄█▀▀▀▀▀▀▀▀▀▀█▄
 ▄▀▄▀              ▀▄▀▄
█  █   ▄█▄    ▄█▄   █  █
 ▀█    ▀█▀    ▀█▀    █▀
  █                  █
   █   ▀▄      ▄▀   █
    ▀▄   ▀▀▀▀▀▀   ▄▀
      ▀▀▄▄▄▄▄▄▄▄▀▀

   ▄▄████████████████████▄▄
 ▄██████████████████████████▄
▄████████████████████████████▄
██████████ ▀▀█████████████████
██████████     ▀▀█████████████
██████████         ▀▀█████████
██████████         ▄▄█████████
██████████     ▄▄█████████████
██████████ ▄▄█████████████████
▀████████████████████████████▀
 ▀██████████████████████████▀
   ▀▀████████████████████▀▀

   ▄▄███████████████▄▄
 ▄██▀▀             ▀▀██▄
▄██              ▄▄   ██▄
██        ▄▄▄▄▄  ▀▀    ██
██      ▄▀     ▀▄      ██
██     █         █     ██
██     █         █     ██
██      ▀▄     ▄▀      ██
██        ▀▀▀▀▀        ██
▀██                   ██▀
 ▀██▄▄             ▄▄██▀
   ▀▀███████████████▀▀

   ▄▄███████████████▄▄
 ▄█████████████████████▄
▄██████████████▀▀███████▄
████████████▀▀    ███████
█████████▀▀   ▄   ███████
██████▀▀     █    ███████
████▀       █     ███████
█████▄▄   ▄█      ███████
████████ ██▄      ███████
▀████████ ▀▄███▄▄███████▀
 ▀█████████████████████▀
   ▀▀███████████████▀▀

  ▄▄███████████████▄▄
 █████████████████████
███████████████████████
███████████▀    ███████
██████████  ▄██████████
██████████  ███████████
████████      ▄████████
██████████  ███████████
██████████  ███████████
██████████  ███████████
 █████████████████████
  ▀▀███████████████▀▀

   ▄▄████████████████▄▄
 ▄█████▀▀▀██████▀▀▀█████▄
▄████▀  ▀▀▀    ▀▀▀  ▀████▄
████▀                ▀████
███▀                  ▀███
███       ▄    ▄       ███
██▀      ███  ███      ▀██
██       ▀█▀  ▀█▀       ██
██▄     ▄        ▄     ▄██
▀██▄     ▀▀▄▄▄▄▀▀     ███▀
 ▀███▄▄▄▄▄▄████▄▄▄▄▄▄███▀
   ▀▀████████████████▀▀
jrrsparkles
Full Member
***
Offline Offline

Activity: 1554
Merit: 161


Be kind not Blind!


View Profile
March 04, 2021, 08:17:43 AM
 #10

I've actually been interested in getting some ETC classic because there is a finite supply.... but... what is stopping a hack and I lose my funds?
Executing 51% blockchain attack on a coin which is cheaper is less expensive to the attacker so they used to hack exchanges and double spend them but its unlikely to happen anyway on wallet which is few hundred dollars worth. I you still afraid that attack can happen again then better stay away from them until it gets expensive.

Kucing hitam00
Newbie
*
Offline Offline

Activity: 5
Merit: 0


View Profile
March 04, 2021, 08:21:26 AM
 #11

if there is etherium hacked, that person is obliged to report the matter, to the party concerned with that party
Oshosondy
Sr. Member
****
Offline Offline

Activity: 602
Merit: 470


Learning will not make you spam


View Profile
March 04, 2021, 08:23:43 AM
 #12

I do not know of any other blockchain, but can not happen to bitcoin blockchain which is getting stronger all the time than before.
Dude, everything can happen as long you have enough power source on the network to do that.

If you don't know about the 51% attack, try to read first and your question is bitcoin can get a 51% attack? the answer was yes but you need to have a lot resource to dot that because is not easy to dominate the network with more than 51%.
I get your point which only proves the theory not reality, but my point is, it is not possible with the level of hashrate generated by bitcoin miners for bitcoin blockchain to suffer 51% attack. With such hashrate, it is not possible. If the so called ethereum, litecoin blockchain and some others that have far lesser hashrate do not suffer 51% attack, not to talk of bitcoin with the greatest harhrate. Another thing is the level of confirmation, even very possible a coin with 1, 2 or 3 confirmation to suffer the attack, while the 6 confirmation coins won't, which means 51% attack also depends on the depth of confirmation. But as of history and recent, bitcoin as never suffered 51% attack because it can practically not happen, only theoretically.

.
Duelbits
            ▄████▄▄
          ▄█████████▄
        ▄█████████████▄
     ▄██████████████████▄
   ▄████▄▄▄█████████▄▄▄███▄
 ▄████▐▀▄▄▀▌████▐▀▄▄▀▌██

 ██████▀▀▀▀███████▀▀▀▀█████

▐████████████■▄▄▄■██████████▀
▐██████████████████████████▀
██████████████████████████▀
▀███████████████████████▀
  ▀███████████████████▀
    ▀███████████████▀
.
         ▄ ▄▄▀▀▀▀▄▄
         ▄▀▀▄      █
         █   ▀▄     █
       ▄█▄     ▀▄   █
      ▄▀ ▀▄      ▀█▀
    ▄▀     ▀█▄▄▄▀▀ ▀
  ▄▀  ▄▀  ▄▀

Shows

   ▄▄▀▀▀▀▀▀▀▄▄
 ▄▀ ▄▄▀▀▀▀▀▄▄ ▀▄
▄▀ █ ▄  █  ▄ █ ▀▄
█ █   ▀   ▀   █ █  ▄▄▄
█ ▀▀▀▀▀▀▀▀▀▀▀▀▀ █ █   █
█▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█  █▄█
█ ▀▀█  ▀▀█  ▀▀█ █  █▄█

Slots
.
        ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▄
        █         ▄▄  █
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▄       █
█  ▄▄         █       █
█             █       █
█   ▄▀▀▄▀▀▄   █       █
█   ▀▄   ▄▀   █       █

Blackjack
|█▀▀▀▀▀█▄▄▄
       ▀████▄▄
         ██████▄
▄▄▄▄▄▄▄▄█▀    ▀▀█
████████▄        █
█████████▄        █
██████████▄     ▄██
█████████▀▀▀█▄▄████
▀▀███▀▀       ████
   █          ███
   █          █▀
▄█████▄▄▄ ▄▄▀▀
███████▀▀▀
|||
[ Đ ][ Ł ]
AVAILABLE NOW
casperBGD
Hero Member
*****
Offline Offline

Activity: 1372
Merit: 669


https://banklessadriadao.substack.com/


View Profile
March 04, 2021, 08:33:19 AM
 #13

I do not know of any other blockchain, but can not happen to bitcoin blockchain which is getting stronger all the time than before.
Dude, everything can happen as long you have enough power source on the network to do that.

If you don't know about the 51% attack, try to read first and your question is bitcoin can get a 51% attack? the answer was yes but you need to have a lot resource to dot that because is not easy to dominate the network with more than 51%.
I get your point which only proves the theory not reality, but my point is, it is not possible with the level of hashrate generated by bitcoin miners for bitcoin blockchain to suffer 51% attack. With such hashrate, it is not possible. If the so called ethereum, litecoin blockchain and some others that have far lesser hashrate do not suffer 51% attack, not to talk of bitcoin with the greatest harhrate. Another thing is the level of confirmation, even very possible a coin with 1, 2 or 3 confirmation to suffer the attack, while the 6 confirmation coins won't, which means 51% attack also depends on the depth of confirmation. But as of history and recent, bitcoin as never suffered 51% attack because it can practically not happen, only theoretically.

yeah, can happen in theory, but cannot happen in reality, due to various constraints, one being that you can acquire all that equipment in time, to reach 51% malicious hash-rate
only thing that could happen, in case that China launch their own cryptocurrency, their miners could take down BTC network, since more than 50% hash power is there, but I do not think that is really realistic view, BTC is here to stay, as most other cryptocurrencies, while Ethereum Classic will probably cover just a niche, their founders give up on it, and community is not that strong to improve it in long-term

.
Duelbits
            ▄████▄▄
          ▄█████████▄
        ▄█████████████▄
     ▄██████████████████▄
   ▄████▄▄▄█████████▄▄▄███▄
 ▄████▐▀▄▄▀▌████▐▀▄▄▀▌██

 ██████▀▀▀▀███████▀▀▀▀█████

▐████████████■▄▄▄■██████████▀
▐██████████████████████████▀
██████████████████████████▀
▀███████████████████████▀
  ▀███████████████████▀
    ▀███████████████▀
.
         ▄ ▄▄▀▀▀▀▄▄
         ▄▀▀▄      █
         █   ▀▄     █
       ▄█▄     ▀▄   █
      ▄▀ ▀▄      ▀█▀
    ▄▀     ▀█▄▄▄▀▀ ▀
  ▄▀  ▄▀  ▄▀

Live Games

   ▄▄▀▀▀▀▀▀▀▄▄
 ▄▀ ▄▄▀▀▀▀▀▄▄ ▀▄
▄▀ █ ▄  █  ▄ █ ▀▄
█ █   ▀   ▀   █ █  ▄▄▄
█ ▀▀▀▀▀▀▀▀▀▀▀▀▀ █ █   █
█▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█  █▄█
█ ▀▀█  ▀▀█  ▀▀█ █  █▄█

Slots
.
        ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▄
        █         ▄▄  █
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▄       █
█  ▄▄         █       █
█             █       █
█   ▄▀▀▄▀▀▄   █       █
█   ▀▄   ▄▀   █       █

Blackjack
|█▀▀▀▀▀█▄▄▄
       ▀████▄▄
         ██████▄
▄▄▄▄▄▄▄▄█▀    ▀▀█
████████▄        █
█████████▄        █
██████████▄     ▄██
█████████▀▀▀█▄▄████
▀▀███▀▀       ████
   █          ███
   █          █▀
▄█████▄▄▄ ▄▄▀▀
███████▀▀▀
.
                 NEW!                   
SPORTS BETTING 
|||
[ Đ ][ Ł ]
AVAILABLE NOW
cryptomaniac_xxx
Hero Member
*****
Offline Offline

Activity: 658
Merit: 514



View Profile
March 04, 2021, 08:50:29 AM
 #14

I've actually been interested in getting some ETC classic because there is a finite supply.... but... what is stopping a hack and I lose my funds?
If hackers can performed 51% attack regardless if it's ETC or not, chances are they are going to do it again and again. It's just a matter of timing and of course how much money they can generate in this double spending attack. I don't think you can lose your funds though in a 51% attack. But if you sit your ETC on a wallet that has been compromised, then definitely hackers can steal it as well (and so are the other crypto wallets).

.
Duelbits
            ▄████▄▄
          ▄█████████▄
        ▄█████████████▄
     ▄██████████████████▄
   ▄████▄▄▄█████████▄▄▄███▄
 ▄████▐▀▄▄▀▌████▐▀▄▄▀▌██

 ██████▀▀▀▀███████▀▀▀▀█████

▐████████████■▄▄▄■██████████▀
▐██████████████████████████▀
██████████████████████████▀
▀███████████████████████▀
  ▀███████████████████▀
    ▀███████████████▀
.
         ▄ ▄▄▀▀▀▀▄▄
         ▄▀▀▄      █
         █   ▀▄     █
       ▄█▄     ▀▄   █
      ▄▀ ▀▄      ▀█▀
    ▄▀     ▀█▄▄▄▀▀ ▀
  ▄▀  ▄▀  ▄▀

Live Games

   ▄▄▀▀▀▀▀▀▀▄▄
 ▄▀ ▄▄▀▀▀▀▀▄▄ ▀▄
▄▀ █ ▄  █  ▄ █ ▀▄
█ █   ▀   ▀   █ █  ▄▄▄
█ ▀▀▀▀▀▀▀▀▀▀▀▀▀ █ █   █
█▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█  █▄█
█ ▀▀█  ▀▀█  ▀▀█ █  █▄█

Slots
.
        ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▄
        █         ▄▄  █
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▄       █
█  ▄▄         █       █
█             █       █
█   ▄▀▀▄▀▀▄   █       █
█   ▀▄   ▄▀   █       █

Blackjack
|█▀▀▀▀▀█▄▄▄
       ▀████▄▄
         ██████▄
▄▄▄▄▄▄▄▄█▀    ▀▀█
████████▄        █
█████████▄        █
██████████▄     ▄██
█████████▀▀▀█▄▄████
▀▀███▀▀       ████
   █          ███
   █          █▀
▄█████▄▄▄ ▄▄▀▀
███████▀▀▀
.
                 NEW!                   
SPORTS BETTING 
|||
[ Đ ][ Ł ]
AVAILABLE NOW
fia_naila
Sr. Member
****
Offline Offline

Activity: 770
Merit: 258


The Standart Protocol - Solving Inflation


View Profile
March 04, 2021, 11:18:03 AM
 #15

It has been hacked because of 51% attacked, right ? The only way not to be hacked again eth classic community need to turn on their miner so the miner will be widely spread and no one can do 51% attack on Eth classic ever again. 51% attack is not easy to do and not cheap but still there is a chance

Decentralized
Asset-Backed Banking

  ▄▄██████████████████
 █████████████████████
█████▀▀
████▀    ████
████     ████
████     ████
         ████     ████
         ████    ▄████
               ▄▄█████
█████████████████████
██████████████████▀▀ 
TheStandard.io█▀▀▀











█▄▄▄
▀▀▀█











▄▄▄█
████████████████████████████
████████████████████████████
████████████████████████████
█████████████████▀▀  ███████
█████████████▀▀      ███████
█████████▀▀   ▄▄     ███████
█████▀▀    ▄█▀▀     ████████
█████████ █▀        ████████
█████████ █ ▄███▄   ████████
██████████████████▄▄████████
████████████████████████████
████████████████████████████
████████████████████████████
goaldigger
Sr. Member
****
Offline Offline

Activity: 1554
Merit: 328



View Profile
March 04, 2021, 11:21:26 AM
 #16

I've actually been interested in getting some ETC classic because there is a finite supply.... but... what is stopping a hack and I lose my funds?
Every project right now in the market is prone to hackers, so there’s no assurance that ETC wont be a victim of this one. If you’re talking about your personal holdings, then it can be safe if you’re using a secured wallet where you control your own keys. Even a good project has the hacking history, so don’t over confident in the market and always go for a secured transactions.

freebitcoin       ▄▄▄█▀▀██▄▄▄
   ▄▄██████▄▄█  █▀▀█▄▄
  ███  █▀▀███████▄▄██▀
   ▀▀▀██▄▄█  ████▀▀  ▄██
▄███▄▄  ▀▀▀▀▀▀▀  ▄▄██████
██▀▀█████▄     ▄██▀█ ▀▀██
██▄▄███▀▀██   ███▀ ▄▄  ▀█
███████▄▄███ ███▄▄ ▀▀▄  █
██▀▀████████ █████  █▀▄██
 █▄▄████████ █████   ███
  ▀████  ███ ████▄▄███▀
     ▀▀████   ████▀▀
BITCOIN
DICE
EVENT
BETTING
WIN A LAMBO !

.
            ▄▄▄▄▄▄▄▄▄▄███████████▄▄▄▄▄
▄▄▄▄▄██████████████████████████████████▄▄▄▄
▀██████████████████████████████████████████████▄▄▄
▄▄████▄█████▄████████████████████████████▄█████▄████▄▄
▀████████▀▀▀████████████████████████████████▀▀▀██████████▄
  ▀▀▀████▄▄▄███████████████████████████████▄▄▄██████████
       ▀█████▀  ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀  ▀█████▀▀▀▀▀▀▀▀▀▀
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
▄█████
██
██
██
██
██
██
██
██
██
██
██
▀█████
.
PLAY NOW
█████▄
██
██
██
██
██
██
██
██
██
██
██
█████▀
blockman
Hero Member
*****
Offline Offline

Activity: 2072
Merit: 555


Crypto Casino & Sportsbook


View Profile
March 04, 2021, 11:45:08 AM
 #17

You better not buy that and put your interest and attention to Ethereum instead. ETC was attacked and proven to be vulnerable in 51% attack quite times.
(https://www.coindesk.com/ethereum-classic-blockchain-subject-to-yet-another-51-attack)
(https://www.coindesk.com/crypto-51-attacks-etc)
(https://coingeek.com/ethereum-classic-implements-51-attack-defense/)


██████████████████████████████████████████████████████████████████████
████████▀▀▀        ▀▀█████████████████████████████████████████████████
██████▀    ▄▄▄▄▄▄▄▄    ███████████████████████████████████████████████
█████    ▄█████████▌   ▐█████▀  ▐███████████████▌  ▀██████████████████
████▌   ▐██████████    █████    ████████████████    ██████████████████
████▌   ▐█████████▄▄▄▄█████▌   ▐███████████████▌   ▐███▀▀█████████████
█████    ▀███████████████▀▀        ▄███████████    ██▀   ▐████████████
██████▄     ▀▀███████▀▀         ▄▄███▀▀▀▀█████▌   ▐▀   ▄███▀▀   ▀█████
█████████▄▄     ▀▀███▄  ▄▄    ████▀    ▄   ███       ▄███▀   ▄█  ▐████
█████████████▄▄     ▀████▌   ▐███▀   ███   ██▌      ████    ██▀  █████
██████▀▀   ▀█████▄    ███    ████   ███▌  ▐██    ▌  ▐██▌      ▄▄██████
█████    ▄████████    ▐██    ██▀▀   ██▀   ▐▀    ▐█   ██▌   ▀██▀▀  ████
████▌   ▐████████▀    ███▄     ▄▄▄     ▄    ▄   ▐██   ██▄      ▄▄█████
████▌   ███████▀    ▄███████████████████████████████▄  ▀▀██████▀▀ ████
█████    ▀▀▀▀     ▄█████████▀    ▀█▀    ▀█       ▀████▄▄         ▄████
██████▄▄    ▄▄▄▄████████████  █████  ██  █  █  █  ████████████████████
█████████████████████████  █▄    ▄█▄    ▄█  █  █  ████████████████████
██████████████████████████████████████████████████████████████████████
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
█  ▄▀▄             █▀▀▐▀▄▄
█  █▀█             █  ▐  ▐▌
█       ▄██▄       █  ▌  █
█     ▄██████▄     █  ▌ ▐▌
█    ██████████    █ ▐  █
█   ▐██████████▌   █ ▐ ▐▌
█    ▀▀██████▀▀    █ ▌ █
█     ▄▄▄██▄▄▄     █ ▌▐▌
█                  █▐ █
█                  █▐▐▌
█                  █▐█
▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█
▄▄█████████▄▄
▄█▀▀▀█████████▀▀▀█▄
▄█▀    ▄▀█████▀     ▀█▄
▄█▄    █        ▀▄   ███▄
▄████▀▀▀▀▄       ▄▀▀▀▀▀███▄
████      ▀▄▄▄▄▄▀       ███
███     ▄▄███████▄▄     ▄▀█
█  ▀▄ ▄▀ ▀███████▀ ▀▄ ▄▀  █
▀█   █     ▀███▀     ▀▄  █▀
▀█▄▄█▄      █        █▄█▀
▀█████▄ ▄▀▀ ▀▀▄▄ ▄▄███▀
▀█████        ████▀
▀▀█▄▄▄▄▄▄▄█▀▀
● OVER 1000 GAMES
● DAILY RACES AND BONUSES
● 24/7 LIVE SUPPORT
Flowzer
Full Member
***
Offline Offline

Activity: 490
Merit: 107



View Profile
March 04, 2021, 11:50:55 AM
 #18

51% network attack in ETC theorically can be prevented by implement some guard by the fork.
This one is created by Pirl Project,

Quote

This guard also implemented by Callisto Network and the network now safe from the attack. Its also proposed by Dexaran to be implemented on ETC but ends up didnt implemented.
Quote

Im not sure if ETC have any plan to prevent the hack in the future since im not following the project anymore.

|   Facebook   |     Twitter     |                                       R A N G E R S                                       |    Discord    |    Medium    |
|    Telegram   |                                        ─────     PROTOCOL     ─────                                        |    Gitbook    |
████  ███  ██  █          VIRTUAL WORLDS BLOCKCHAIN INFRASTRUCTURE          █  ██  ███  ████
isaac_clarke22
Full Member
***
Offline Offline

Activity: 938
Merit: 183



View Profile
March 04, 2021, 11:53:38 AM
 #19

~
I haven't been in a while with ETH. Not sure what but it surely applies to every coin that we hold.
It's about the continuous development I believe. Fixing any vulnerabilities that it would possibly be exploited and as you mentioned, hacked.

Javi_Anibarro
Sr. Member
****
Offline Offline

Activity: 1456
Merit: 281


tBTC - https://dapp.tbtc.network/


View Profile
March 04, 2021, 01:23:14 PM
 #20

51% network attack in ETC theorically can be prevented by implement some guard by the fork.
This one is created by Pirl Project,

Quote
Theoretically yes, but it will be hard to implement since the core team does not know the depth of its security.
Implementing it to the network without knowing the risk is unacceptable.

This guard also implemented by Callisto Network and the network now safe from the attack. Its also proposed by Dexaran to be implemented on ETC but ends up didnt implemented.
https://github.com/ethereumclassic/ECIPs/issues/327

Im not sure if ETC have any plan to prevent the hack in the future since im not following the project anymore.
Other than this, there were a few discussions about how to prevent this attack.
From changing the algorithm, integration of "proof of proof" Veriblock and above. Until now, they have yet to implement it because they need to understand better which one of those is the best option for the project in the long term.
The sad thing is they should have expected it a long time ago and should have prepared something to counter the problem, unlike now.
Pages: [1] 2 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!