After Ethereum Classic attack

During a Core Devs meeting on Friday, Ethereum (ETH) developers spoke about prospect measures in order to avoid the repetition of 51% attacks.

The ground of this discussion had been the recent attack on Ethereum Classic (ETC) — a network that had been formed after the results of the DAO intrusion in 2016 was not remedied in 2016. The aforementioned attack between July 31 and Aug. 1 has turned out to be well planned and was worth of 5 million USD in ETH on 200000USD spend for hashpower purchase

The conference main topic had been the discussions of the measures on further prevention of the attacks of similar kind

Steps for further attacks prevention

The main thing for the prevcntion of the attacks of the similar type is to make checks at the level of nodes, which will reliable save blockchain history. In such way all other changes will be treated as a potential threat.

Chain reorganization is based on mining of another version of the blockchain with a greater of hashpower than before.  Here acts the rule of Nakamoto consensus, when a chain with higher proof-of-work automatically changes the lower one.

According to Peter Szilagyi, developer of the Geth client, newly developed software already denies reorganizations greater than 90,000 blocks, or two weeks. And such strategy is much more efficient .

Possibly ineffective measures

The scale of the ETC reorg had been caused by the history of earlier hackings by thus making exchanges to grow minimum deposit sums.

Industry experts do not see the necessity of thousands of blocks for Ethereum.

Tim Beiko, a developer at Ethereum of PegaSys company mentioned that ETC’s might have different situation. Its small value makes easier to get required hashpower to complete a 51% attack and this should be the main point of concern.

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