Cryptocurrency

15/01/19 10:02 UTC-4

Ethereum Classic commission rose to $ 6.10: fear of new hacker attacks

Ethereum Classic commission increased to $ 6.10: will there be new hacker attacks?
Ethereum Classic commission increased to $ 6.10: will there be new hacker attacks?

The sudden increase in transactionTransaction
– is a financial term that means a logically meaningful operation that can only be carried out completely. Details
fees for Ethereum Classic (up to $ 6.10) prompted speculation that the cryptocurrency could again suffer from hacking 51% attacks, as reported by the CoinDesk news agency.

Over the past 24 hours, the average transaction fee for the Ethereum Classic network has grown to $ 6.10. This is almost 800% more compared to $ 0.71 a day earlier. According to CoinDesk, this is the biggest surge in transaction costs in blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
history.

 

Ethereum Classic commission growth: what is known today

On Sunday (11:15 UTC), one of the miners of Ethereum Classic reported (on the Discord channel) about doubling the hash-capacity, which was aimed at checking transactions and creating new blocks. Confirmation of the fact was also published by the CoinWarz analytic agency, promulgating the figures and data of the Ethereum Classic blockchain.

According to the GasTracker Explorer, the Ethereum Classic miningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details
servers  for every 2 minutes have 3,054.29 GH/s hashrate (compared to the previous 160 GH/s). Now it is not clear who conducts transactions with such large commissions. Analysts are concerned about the motives of this person or group of people.

One of the developers of Ethereum Classic, Yaz Khoury, reported that such manipulations are testing a possible GasToken exploit (ERC-20 coins in the Ethereum network). The fact is that it is not yet clear whether coins with such high transaction fees are moved through exchanges.

Bitfly's CEO, Peter Pratscher, has the opposite opinion.

"I do not think that high transaction fees are associated with the GasToken exploit (...) It is not known whether it was a mistake or an intentional measure to subsidize the ETC mining pool and prevent a further 51% attack on blockchain coin" – Twitter, Peter Pratscher

Although the Ethereum Classic commission has risen to $ 6.10 and many expect new hacker attacks, according to Pratsher, an increase in transaction fees can be viewed as a positive development for the overall network security. If such transactions continue, they will attract more miners to support the network. Peter Pratscher added that, of the transactions he analyzed, all "are standard transfers of values ​​from A to B that do not interact with the Gas smart-contract".

Editor: Pereyidenko Ihor

See also: "Coinbase announces support for Ethereum hard-fork"

#EthereumClassic #commission #transactions #blockchain #PeterPratscher #YazKhuri #GasToken #hackers #exploit #mining

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