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51% attack
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A Review of the Multiple 51% Attacks on Ethereum Classic (ETC) in 2020 and the Responses
In August 2020, the Ethereum Classic (ETC) network suffered three independent 51% attacks within a single month, leading to deep chain reorganizations and double-spend transactions, with total losses exceeding $9 million. These attacks prompted the ETC community to implement several countermeasures, including advising exchanges to increase transaction confirmation times, launching investigations to track the attackers, and ultimately implementing the "Thanos upgrade" (ETChash) in November 2020 to enhance network security. Ethereum co-founder Vitalik Buterin also suggested at the time that ETC transition to a Proof-of-Stake (PoS) mechanism.
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Bitcoin An Analysis of the Major Security Issues Facing Blockchain
Bitcoin As the first cryptocurrency, its underlying blockchain technology is renowned for being decentralized and tamper-proof. However, this does not mean that the Bitcoin blockchain is free of security risks.This article will delve into the various security issues that the Bitcoin blockchain may face, including protocol-level vulnerabilities, cyberattacks, private key management risks, and challenges posed by emerging technologies, to help readers gain a comprehensive understanding of the security landscape of Bitcoin.
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A Review of the Multiple 51% Attacks on Ethereum Classic (ETC) in 2020 and the Responses
In August 2020, the Ethereum Classic (ETC) network suffered three independent 51% attacks within a single month, leading to deep chain reorganizations and double-spend transactions, with total losses exceeding $9 million. These attacks prompted the ETC community to implement several countermeasures, including advising exchanges to increase transaction confirmation times, launching investigations to track the attackers, and ultimately implementing the "Thanos upgrade" (ETChash) in November 2020 to enhance network security. Ethereum co-founder Vitalik Buterin also suggested at the time that ETC transition to a Proof-of-Stake (PoS) mechanism.
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Bitcoin An Analysis of the Major Security Issues Facing Blockchain
Bitcoin As the first cryptocurrency, its underlying blockchain technology is renowned for being decentralized and tamper-proof. However, this does not mean that the Bitcoin blockchain is free of security risks.This article will delve into the various security issues that the Bitcoin blockchain may face, including protocol-level vulnerabilities, cyberattacks, private key management risks, and challenges posed by emerging technologies, to help readers gain a comprehensive understanding of the security landscape of Bitcoin.
51% attack
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