Ethereum Classic Labs announced it was increasing the security of ETC after the digital asset was attacked by 51% twice in August. Experts believe the Proof-of-Work algorithm, which the shared with Ethereum, is another factor that contributed to the recent attack
The algorithm for mining ETC will be changed
Ethereum Classic has a higher chance of being hit by 51% attacks due to a low hashrate compared to Ethereum. For more than two years, this coin has been subjected to the greatest number of threats of this kind, among the best coins in the digital asset market.
With this in mind, the company said it is increasing the security of ETC to eliminate the possibility of a future 51% attack on the network.
Earlier this month, Etheruem Classic was subjected to two serious 51% attacks, one of which led to the withdrawal of crypto assets, and OKEx lost about $ 5.6 million.
Due to serious threats, Ethereum has decided to increase the security of ETC. To do this, the developers claim that they will use all their resources to stabilize the platform’s security. Ethereum Classic developers will change the algorithm to resist future hacking attempts.