The developers of Ethereum Classic have implemented a MESS system to prevent 51% attacks, which should make such attacks on the blockchain extremely expensive.
The CEO of Ethereum Classic Labs, Terry Culver, spoke about the deployment of the MESS system (a modified exponential assessment of subjectivity) by developers in the Decrypt Daily podcast.
“Nodes do not know how to distinguish a chain of attackers from a chain of honest miners,” he said. “We have created a system that makes major reorganizations more difficult.”
It will not affect the work of honest miners, but it will complicate the actions of hackers who need to demonstrate a “hashrate maintained for a longer period of time”. As previously stated by ETC Labs, if MESS, which was activated on October 10 after successful testing, had been implemented in the summer,
51% attacks on the Ethereum Classic blockchain would have cost attackers $20 million.
CULVER acknowledged that the low hashrate is a problem with the ETC blockchain, and coupled with the relatively high liquidity of the cryptocurrency, a catastrophic situation is emerging:
“If you are an attacker and you see a combination of liquidity, a large number of stock listings, and a low hashrate, this is a good goal.
although the developers of ETC have taken steps to prevent further 51% attacks, ETC Labs has hired lawyers to prosecute the attackers. “We are not bringing criminal charges to change the way the blockchain works,” he said. “We pursue criminals to stop theft.”
CULVER noted that legal actions need to be taken to strengthen the trust of investors and users. And he warned developers of other projects not to forget about security.
Recall that last month, Ethereum Classic Labs intended to
increase protection against attacks by 51% on the ETC blockchain by regulating platforms that provide the ability to lease hashing power. In addition, IOHK has proposed
using a checkpoint system for Ethereum Classic to protect the network from 51% attacks.