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ETC launched the MESS system that can effectively resist 51% attacks

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Terry Culver, CEO of ETC Labs, said that if you have been involved in Ethereum Classic, you will find that it is tenacious, has great potential and a bright future.

Original title: "ETC launches a MESS system that can effectively resist 51% attacks"

Original source: Libert

Key Points:

Ethereum Classic has recently suffered several 51% attacks.

ETC blockchain has established a system called MESS, which makes the attack cost very expensive.

ETC Labs CEO discusses such attacks and their solutions.

The cost of attacking Ethereum Classic (ETC) is low. From July to August, the blockchain suffered three 51% attacks, and the attacker could have spent as little as $3,800 in rented computing power to launch one attack.

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So how did the developers of ETC respond? The answer is that they made the cost of computing power more expensive.

ETC Labs CEO Terry Culver (Terry Culver) explained on the Decrypt Daily podcast on Monday that ETC Labs and the ETC core development team call MESS ( Modified Exponential Subjective Scoring) solution. He said:

"Node is not designed to distinguish between the attacking chain and the honest mining chain. What we have done is create a system where , large transaction reorganizations require greater hash difficulty."

This is not a problem for legitimate miners, but for those who need to show "over a longer period of time It is unrealistic for malicious actors to maintain a "hash training ground" inside. If MESS, which launched on October 10 after a successful test, had been active this summer, the attacks would have cost $20 million more than a used Toyota Corolla, according to a press release from ETC Labs. value of the car.

Hash rate is a measure of the processing power of a proof-of-work network. The hash rate depends on factors such as the mining algorithm, the overall strength of the mining equipment, and the number of users.

In a 51% attack, a malicious actor controls a majority of the computing power of the network and thus can make decisions about the network, such as rejecting, reversing or modifying transactions . In doing so, it is possible to double the funds, as has happened with ETC before.

Culver acknowledged that the low hash rate is currently a problem with the ETC blockchain. But the cryptocurrency's relatively high liquidity creates a perfect storm:

“So if you’re an attacker, you see it has both Get liquidity, lots of exchange listings and low hash rate, then it's a good target."

Even though ETC's developers have taken In order to avoid further attacks, ETC Labs has also hired lawyers to hold the perpetrators accountable, but it will definitely not roll back the Ethereum Classic blockchain. Culver said:

“We are not filing criminal charges to change the way blockchain works. We are pursuing criminal charges against people who do some opportunistic things. Man, this kind of trickery has been around since civilization existed, and that's stealing."

Culver said they need to take legal action to empower investors and user confidence. He also warned other projects not to take security lightly. He said:

“Look at Ethereum Classic and say you don’t have confidence in it because it’s been attacked, in a way it’s blaming the victim Or, I think it's a complete misunderstanding of how these systems work. If you stay committed to Ethereum Classic, you will find that it is resilient, has a lot of potential and a bright future."