Satoshi Nakamoto Blog
Image default
Blockchain Crypto Scams Ethereum Ethereum Classic Hack NEWS

A New Alert System Will Detect And Notify You About The Threats On Blockchain

The announcement is said to be made via Twitter from the official account of Ethereum Classic. The news is about a new system which is developed on block analysis along with propagation patterns. Moreover, This new alert system is intentionally implemented to reduce the threats from blockchain and vulnerabilities.

The surveillance system aims to prevent any sort of future activities and attacks appearing on the blockchain. Whenever we hear about attack we remember the recent attack worth 51% on ETC. The tweet reads:

Considering a flashback, earlier in January, the ETC blockchain faced a 51% attack. The first team to detect the network anomaly was Coinbase. Further, The news source says that they managed to halt the movement where funds were speedy on the ETC blockchain. Furthermore, they released an announcement in the first week of January, the statement read:

On 1/5/2019, Coinbase detected a deep chain reorganization of the Ethereum Classic blockchain. In order to protect customer funds, we immediately paused interactions with the ETC blockchain.

Regarding a 51% attack that happened on a PoW aka Proof-of-Work operating on blockchain involves with a group of miners tackling above 50% of its mining hash rate. Seems like, They have the control over a network, sending funds to address occurring on the main network chain and forwarding same funds to another address across a blockchain forked copy which is secretly mining.

The other nodes using the process with the main chain can examine these first transactions as valid. Then the malicious miners’ release mined blocks across the second chain, where other nodes accept particular change as a new correct chain. However, Original transaction gets erase and nodes identify the funds. And through the new chain establishing a double spend situation.

Let’s get to know more about the company project. Further, ETC Labs Core came to existence at the mid of this month which is a new core development tram working at ETC labs. This new innovative team tackles the core ETC projects, backing the blockchain, offering tools for DApps mining, development.

The revelation regarding this new team also mentions an ETC roadmap specifically for 2019. Moreover, a summarized version across the roadmap and sectors of focus for the whole year- 2019 are:

  • ASAP 2019: Chain Monitoring & Analysis Tooling
  •  Emerald SDK, IPFS, and Multi-geth support
  • Q1 2019: ETH Compatibility ECIP-1045 (Byz + Const HF)
  • Q1 2019: Embedded SVM
  • Q1 2019: ETH Compatibility
  • ~Q1 2019: Documentation
  • Q1-Q2 2019: Classic Geth
  • ~Q1 – Q2 2019: JSON RPC Schema
  • ~Q1 – Q2 2019: Service Runner
  • Q1 – Q3 2019: ETC JIT Compiler
  • Q1-Q4 2019: Multi-Geth
  • Q1 – Q4: Dev Tutorials and Guides
  • Q2 – Q4 2019: EVM LLVM Backend
  • Q2 2019: DApp Deployment Tool
  • Q2 – Q3 2019: Multi-network Explorer
  • Q3 – Q4: Smart Contract IDE
  • UX/ UI Research and DApp Prototyping

Also, Read : Crypto Exchanges | Crypto Wallet | Earning Sites |

Was this post helpful?

Let us know if you liked the post. That’s the only way we can improve.

Source link

Related posts

Bitmain IPO Suffers Major Setback as Hong Kong Regulator Declares Crypto Firms “Immature”


Monero [XMR] paired with Bitcoin [BTC] and Ethereum [ETH] on KuCoin


RayJay Loses Duo in PA, Adds Three Brokers in NY, CT and NJ


Nick Szabo: Central Banks Might Switch From ‘Physically Vulnerable’ Gold to Bitcoin


Cryptocurrency Exchange Coinbase Creates Visa Debit Card


AOC’s Facebook Fake-Out Is Another Example of Her Ongoing Hypocrisy