Ethereum Classic Gets Hacked Yet Once Again


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    Published on Sep 02, 2020
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    In May 2016, the Decentralized Autonomous Organization (DAO), lauched by the Ethereum community, went for a crowd token sale to fund its development. After raising $150 MM, a flaw in DAO’s code was exploited by attackers and more than $50 million was drained out of DAO’s funds. A hard fork, ETC was implemented on the Ethereum that made the hacked transaction invalid.

    A year ago, Atlantis was successfully implemented on the Ethereum Classic (ETC) blockchain bringing more compatibility with Ethereum (ETH). As we all know communities are vital to the sustainability of a blockchain, but equally important, if not more important is the development taking place on a blockchain. Without development, a blockchain is sure to loss ground against other competing blockchain and is also guaranteed to loss its user base.

    Lastly and probably most importantly, Ethereum co-founder Vitalik Buterin has no intent of supporting ETC.


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    Tags :

    leofinance bitcoin ethereum neoxian

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