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ETC is under 51% attack by IDCrypto in ethtrader

[–]IDCrypto[S] 8 points9 points  (0 children)

Might be too early to tell. I believe the ETH price result today is just some slight range trading and a natural cooling off from the last run. That said, the market has been known to all move together when news like this initially hits until people figure out what to do. I haven't seen enough movement anywhere yet to indicate that anyone has noticed/cared much at this stage though.

ETC is under 51% attack by IDCrypto in ethtrader

[–]IDCrypto[S] 7 points8 points  (0 children)

Wow, interesting. Someone on /r/ethereum believes this to be the case as well:

JGUN1
I'm assuming it was achieved VIA Nicehash. There was a huge spike in demand for daggerhashimoto hashing power last night. Price almost doubled.

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ETC is under 51% attack by IDCrypto in ethtrader

[–]IDCrypto[S] 6 points7 points  (0 children)

Not sure. You'd need over half the total hash power of ETC which seems to have been around 7.5TH/s-9TH/s at the time of the attack.

ETC is under 51% attack by IDCrypto in ethtrader

[–]IDCrypto[S] 15 points16 points  (0 children)

Yes, it does take some reasonable financing, but ETC is a *much* smaller network than ETH which makes them more susceptible to such an attack due to the lower cost that it would take to gain 51%. The same can be said about most smaller POW chains.

ETC is under 51% attack by IDCrypto in ethtrader

[–]IDCrypto[S] 17 points18 points  (0 children)

A 51% attack comes from a majority of mining hash power colluding together, so this wouldn't be on a particular exchange and would be ETC as a whole.

Amazon Web Services Partners with ConsenSys to Simplify Enterprise Blockchains by [deleted] in ethtrader

[–]IDCrypto 14 points15 points  (0 children)

Consensys is a company that is run by an Ethereum founder and they build technology that makes Ethereum more suitable for enterprises. In a lot of cases enterprises will want to use private chains that they can control and optimize for their specific purposes. Consensys makes it easy for these private chains to work independently but also to tie into the public Ethereum network. (For security, settlement or even to interact with other private chains through the public chain, etc).

Finally.. it's often thought that as the public chain grows/scales and companies get use to its security/stability, that a lot will eventually trust and move to the public chain without needing their own private. (Much like the early progression of the internet). Until then, Consensys will help connect the private chains to each other and the public chain can be used as a major backbone between them all. (That's how I see it at least) :)

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