Ethereum Classic hit by 51 per cent attack yet again, may face delisting
These attacks often result in the loss of millions of dollars’ worth of coins and demonstrate the weakness in some smaller cryptocurrencies.
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The Ethereum Classic blockchain was hit with another 51 per cent attack on Saturday evening — for the third time in a month, the Block reports.
Ethereum Classic is an offshoot of Ethereum, whose coin Ether is the second-most valuable cryptocurrency.
A so-called 51 per cent attack happens when an entity dominates the network to the extent that it can control it.
That often result in the loss of millions of dollars’ worth of coins and demonstrates the weakness in some smaller cryptocurrencies.
The group behind Ethereum Classic's core development has hired a law firm and is trying to investigate and bring charges.
If the community can't find a way to better protect the network, the coin could face delisting, major exchanges told the Block recently.
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