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Ethereum Classic under attack, XRP in the bank, Ethereum hardfork

01/10/2019
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  • ethereum_classic_ hacker_attack
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Ethereum Classic has undergone an Attack 51% or self-serving mining; Euro Exim Bank will use Ripple. Cryptoexchanges are ready for Ethereum hardfork.

Attack 51% on Ethereum Classic

The Ethereum Classic team finally admitted that its network has undergone an Attack 51%. As early as January 5, the Coinbase cryptocurrency exchange noticed a constant reorganization of the blockchain. According to preliminary data, more than a hundred blocks were attacked by hackers. As a result of double transactions, 88.5 thousand ETC were withdrawn, which is close to $ 460 000 at the current rate.

The developers of Ethereum Classic for a long time did not recognize the problem, but then were forced to agree with the obvious. It is not clear who exactly organized this attack. However, the size of the blockchain suggests that it could not have been produced without huge computational power. To avoid further problems, the number of confirmations for transfers is now increased from 120 to 400.

Cronicle of attack on Ethereum Classic

Attack 51% on Ethereum Classic

Euro Exim Bank will use Ripple

The first bank with a license that will apply cryptocurrency will be Euro Exim Bank from London. It announced its accession to RippleNet, where 12 financial companies are already operating. XRP tokens will help make cross-border payments. It is noted that the new technology can significantly increase the speed of calculations and reduce their cost.

In just one year, the number of organizations using Ripple increased by 350%. Weekly several companies declare plans to use cryptocurrency in the calculations. However, for the first time in European history, a bank with an official license joins the network. This can be called a new stage in the development of blockchain technology.

Euro Exim Bank will use Ripple

Constantinople are ready to support the majority of cryptoexchanges

Almost all trading platforms that work with cryptocurrencies, have expressed their readiness to support the Ethereum blockchain hardfork. This was stated by representatives of Bittrex, Binance, BitForex, CEX.IO and other platforms.

To avoid technical problems, they will be taken "account snapshot" before calculating the block 7 080 000. It will be the first in the new chain. The exact date of hardfork is not yet known, since the size of the computing power of the network is a floating value. However, it is already known that the event will occur no earlier than January 14 and no later than January 18. Users do not have to perform any actions, this hardfork is not controversial. The parties were able to agree on all of its conditions at the preparation stage.

Constantinople are ready to support the majority of cryptoexchanges

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