51% attack consequences: block rewards peak at 200 ETC

13 Jan, 2019
by Alberto Arnaldo
Mining
51% attack consequences: block rewards peak at 200 ETC

Almost a week after the first news regarding the 51% attack on the Ethereum Classic blockchain, normality seems to be far from restored in the network: block rewards are registering increases that amount up to 25 times the normal rates.

It all started with a chain reorganization including double spents reported by Coinbase and a request to exchanges to increase confirmation times. However, the latest developments shed some doubts on whether the attack was just a case of white hacking intended to expose the weaknesses of the network, as many people thought when it became known that $100K worth of the hacked ETC had ben returned

Now, it is being reported by trustnodes that the ETC network is seeing its block rewards soar high, with some miners receiving more than 200 ETC per block, when the normal reward is just of 4 ETC.

It would seem as if the large transaction fees are being payed by someone in an attempt to avoid having their transaction reversed, given the recent 51% attack on the network.

Read more: Is this the end of Ethereum Classic (ETC)?51% attack on $ETC & Tesla, Apple and Facebook tokenized?

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook!

Poll

What do you think will happen to ETC post the 51% attack?

(79 votes)

Add a comment

This is a very strange situation and there is a huge loses in Coinbase. Implementing a better system of safety is necessary to do Coinbase otherwise, all their customers will leave them to a more reliable exchange.
13 Jan, 2019 - 21:55
The strangest thing for me about this situation is that Coinbase gets in every headline. Everyday I become more sure that CB is somehow managed to speculate with this attack.
14 Jan, 2019 - 05:09
agree, Coinbase is everywhere, how else to attract customers?
14 Jan, 2019 - 15:23

Check out the latest news

You will be logged out and redirected to the homepage