The Ethereum Classic development team – Ethereum Classic Labs (ETC Labs) – has announced a partnership with OpenRelay and ChainSafe to improve network security and prevent future 51% attacks.
According to an article on the ETC Labs blog, the Ethereum Classic development Team will collaborate with OpenRelay and ChainSafe as part of a plan to improve network security. Together with OpenRelay and ChainSafe, ETC Labs will increase the network’s resistance to attacks by 51% and take measures to improve the security of the blockchain.
The ETC security features working group is led by a developer under the pseudonym Isaac, who, in collaboration with OpenRelay and ChainSafe, helps create practical simulations and models for the PROPOSED features, develop the test network infrastructure, and implement testing.
ChainSafe will be responsible for the conceptual analysis of various security proposals and specifications. ETC Labs founder and Chairman James Wo said:
“OpenRelay and ChainSafe are very familiar with Ethereum Classic, and by working together, some of the most brilliant minds in the blockchain industry will solve the problem of 51% attacks in tandem. This team will bring additional knowledge in the field of PoW-based blockchain security systems and test environments.”
Recall that over the past two months, the Ethereum Classic network has been attacked by 51% three times. After that, ETC Labs opposed platforms for renting hashing power. Presumably, the last 51% attacks on Ethereum Classic were made using the hash power leased on NiceHash.
“ChainSafe is pleased to apply our experience in collaboration with ETC Labs in research and development to help protect PoW blockchains from 51% attacks. Our joint efforts will play a crucial role in protecting ETC from attackers,” said ChainSafe developer Eric Tu.
Recall that the CEO of Ethereum Classic Labs, Terry Culver, recently stated that 51% attacks are a common problem for all blockchains that use PoW consensus.