The MET team sticks with the plan to build on ETC, despite the 51% attack

10 Feb, 2019 | Updated: 10 Feb, 2019
by Fifi Arisandi
Update
The MET team sticks with the plan to build on ETC, despite the 51% attack

The Metronome Token team proceeds with their plan to build on the Ethereum Classic network after seiing how the ETC managed to maintain their hashrate and market cap post the 51% attack. 

It’s just 41 days into the new year, yet there has been lots of incidents and dramas in the crypto space. In a different perspective, though, it also means that there are still a lot of time to “make things right” this year.

After being hit by 51% attack in the beginning of the year and then seeing some of the stolen funds returned, many people might ask, "Do developers still want to build their projects on the Ethereum Classic (ETC) network?"

Read more: Ethereum Classic (ETC) 51% attacker may soon be located

It may not represent any other projects, but a cross-chain cryptocurrency, the Metronome Token (MET) reveals their development plan that will use the Ethereum Classic network, as initially planned.

So, the plan was to build the Metronome porting on ETC, however, after the 51% attack, the team took time to reconsider the plan.

The “reconsideration phase”, which also took into account the community’s feedback, resulted in the team’s decision to proceed with the initial plan.

According to the official announcement, the MET team paid attention to how the ETC managed to maintain its hashrate as well as market cap post the attack.

That said, the team gave a heads up to MET owners regarding the way they would store their tokens, on which they urged them not to use the chain.

“All transactions on an attacked chain are just as vulnerable to the attack as anything else, however it is worth considering a few things. The primary economic incentive for attacking a network is to go after the most profitable tokens — which is usually the underlying token itself (in this case ETC). Additionally, the victims of 51% attacks are usually exchanges,” the wrote on the announcement.

Lastly, the team ensured that they’re still on track on the Metronome contracts deployment plan on the ETC network for Q1 2019, at the same time, reassuring MET owners that they can always move their tokens anytime they want, although it’s already deployed.

How will the Ethereum Classic perform this year? Stay with Chepicap for updates. 

Read more: ETC Labs Core announced with a 2019 roadmap, defying concerns that ETC was dead

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Read more about: Ethereum Classic (ETC)

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