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RE: Why Is This Happening to Ethereum Classic?
Wow!
Mind blowing news about Ethereum classic.
I have always thought the devs there were really on top of their game, now not so sure. I wonder what this means for their future?
I wonder what steps the other coins vulnerable to 51% attacks will now take to protect themselves?
I also wonder what steps exchanges will take?
Now that the genie is out of the bottle are they legally culpable if they do nothing?
What responsibility does Nicehash have here?
Wow so many questions generated by this news!
Including, will this event generate calls for regulation or government intervention.
Wow!
Thanks
I don't think this is a reflection on the devs as much as it is now an unfortunate reality for many blockchains with smaller networks.
Nicehash isn't the only company that allows people to rent hash power, but these types of companies make it extremely easy for anyone to disrupt a blockchain for relatively small amounts of money. Whether or not these attacks are profitable is another topic.
Steps taken to avoid 51% attacks, great question. I'll be diving into that one for a while I'm sure.
I think regulations will mostly be concerned with the exchanges and the information they release about the trading practices they allow and security measures.
Great questions! Thank you for taking the time to share them, keep 'em coming :)