Archiv der Kategorie: Bitcoin

Volti criptati pronti per posizioni nell’amministrazione di Biden

L’industria delle criptovalute sembra essere in fermento con potenziali, dati confermati e possibili appuntamenti nell’amministrazione Biden.

Mentre il Senato degli Stati Uniti inizia a confermare i posti di leadership nel commercio e nel tesoro, c’è stato uno slancio significativo nella comunità crittografica come risposta. Ciò è dovuto ai profili di vari individui che sarebbero stati nominati, nonché alle misure economiche previste dalla futura amministrazione, entrambe le quali dovrebbero alimentare uno slancio positivo per la crescita delle criptovalute.

Mentre alcune nomine ufficiali sono state fatte con numerose conferme in attesa, altre sono ancora in fase di nomina. Facciamo un giro veloce intorno alla palude.

Il Tesoro

Confermata con 84 voti, Janet Yellen sarà al timone del tesoro. Durante la sua audizione di conferma, Yellen ha delineato il suo sostegno all’agenda di Biden, che include un probabile aumento delle tasse per i ricchi, „sostenere il dollaro“ per stabilizzare il dollaro tra i tentativi di minare il valore corrente attraverso la manipolazione del mercato all’estero, e garantire la stabilizzazione del Economia degli Stati Uniti nel mezzo dell’attuale pandemia globale di COVID-19.

Sulla crittografia, Yellen non ha affrontato direttamente il suo approccio alla regolamentazione nello spazio durante le udienze di conferma; tuttavia, ha menzionato che gli usi legittimi della criptovaluta dovrebbero essere incoraggiati, come i mezzi che utilizzano questi tipi di finanza decentralizzata per “ migliorare l’efficienza del sistema finanziario „.

Securities and Exchange Commission

Un appuntamento di cui la comunità crittografica è particolarmente entusiasta è Gary Gensler , che in precedenza è stato presidente della Commodity Futures Trading Commission sotto il presidente Barack Obama e come funzionario del Tesoro sotto il presidente Bill Clinton.

Avendo precedentemente definito la tecnologia blockchain „un catalizzatore per il cambiamento“, Gensler si è espresso apertamente sull’importanza delle criptovalute e ha dichiarato che esiste un „argomento forte“ per XRP classificato come titolo. È stato anche molto esplicito su come la tecnologia blockchain potrebbe risolvere i problemi di pagamento negli Stati Uniti.

In qualità di presidente atteso della Securities and Exchange Commission, Gensler sarà in una posizione privilegiata per raccogliere il supporto dietro una valuta digitale della banca centrale statunitense, in particolare tra l’interesse istituzionale per questo prodotto. Gensler svolgerebbe anche un ruolo significativo in un’ampia azione governativa su criptovaluta e blockchain, come la considerazione di un fondo negoziato in borsa Bitcoin ( BTC ), e ci si aspetta che cambi i sentimenti a suo favore. Attualmente professore di pratica presso il Massachusetts Institute of Technology Sloan School of Management, Gensler conduce ricerche e insegna tecnologia blockchain, valute digitali, tecnologia finanziaria e politiche pubbliche.

Inoltre, la partenza del presidente della SEC Jay Clayton è stata accolta con favore anche dagli appassionati di criptovaluta, poiché era noto per il suo scetticismo nei confronti del settore della finanza digitale. Con Clayton che si fa da parte, insieme ai suoi pregiudizi anti-cripto, la strada è aperta affinché gli ETF Bitcoin diventino una realtà.

C’è già una linea di istituzioni finanziarie guidate da Fidelity e società di investimento che hanno richieste di fondi Bitcoin in corso con la SEC e faranno pressione su Gensler quando entrerà in carica.

Analyst: Bitcoin could crash to $ 20,000 as the rally slows down

Bitcoin saw a massive rally last night that allowed it to hit new all-time highs above $ 29,000.

The cryptocurrency encountered serious selling pressure here which slowed its rise and dropped it back towards $ 28,000.

It seems that there is some support here, but it remains unclear how long it will last

An analyst commented on this in a recent tweet and commented that he is preparing for a total trend reversal that will cause BTC to fall back towards $ 20,000.

He comments that the time and distance of each step up is getting smaller and smaller as BTC rises higher, which in his eyes is a sign of exhaustion-

Bitcoin is currently sliding back down after breaking past its all-time highs from last night.

The strength that the cryptocurrency has seen lately cannot be underestimated as it has added several thousand dollars to its price every week.

One trader believes that there is a great possibility that this uptrend will stall in the near future and be followed by a decline towards $ 20,000.

He points out some signs of exhaustion to justify this idea.

Can Bitcoin Hold Above $ 29,000?

Bitcoin experienced a wild rally yesterday afternoon that pushed the price above $ 29,000, marking new all-time highs.

The selling pressure here was significant and slowed Bitcoin’s rise significantly. Since then, the coin has drifted further and further down.

Where the cryptocurrency goes next will likely depend on whether the bulls can keep the price above $ 28,000 in the coming days and convert this former resistance zone into support.

Trader claims a fall to $ 20,000 is imminent

One trader wrote in a tweet that he believes there is a move down towards $ 20,000 in the near future.

He comments that Bitcoin’s rallies have gotten weaker and shorter as it nears $ 30,000 – which is a sign of the bulls‘ exhaustion. The trader:

“The time and interval of each $ BTC movement is getting smaller. Less consolidation and less upward movement. Markets can be like a pendulum and that will swing the other way. The theory remains unchanged. We’ll see low 20s “

The coming days should provide some serious insight into where the entire market will head over the medium term.

A continuation of this sustained downtrend could mark Bitcoin’s 24-hour highs as a local top and be a sign that a downtrend is imminent in the near future.

Simplex partners with Visa to issue encrypted debit cards

The provider of fiat services for crypto, Simplex, has partnered with Visa to enable its corporate customers to issue cryptomorph debit cards.

 

Simplex partners with Visa to issue crypto debit cards

More than 200 Simplex partner companies can now offer crypto debit cards to their customers, potentially enabling greater adoption of crypto for retail transactions.

 

The venture is the result of a recent partnership between Simplex and Visa announced Monday. Simplex, a fiat service for crypto, is now the leading Visa member in Europe.

 

A spokesman for Simplex explained to Cointelegraph that the partnership is mainly a boost to the company’s business-to-business activities. „The main membership is what enables us to implement this in our partner network, basically giving any Simplex partner the ability to offer a fiduciary Visa card or crypto“.

 

For Simplex founder and CEO Nimrod Lehavi, the partnership with Visa is an important step in the company’s plans to allow greater access to digital currencies. In October, Simplex added a Tether-to-Euro withdrawal feature to its platform.

 

Cryptomach debit cards remain an important component to allow ‚fiat The News Spy convenience‘ for spending cryptomaches online or in physical shops. Indeed, the increased use of digital coins for micro transactions remains one of the points of reference for measuring the adoption of cryptomorons.

 

In 2020, several crypto-currency companies began launching debit cards that allow users to use encryption. The Binance Card is the latest release, being sent to European customers in December. At the beginning of the same month, the company BlockFi announced its own card program.

 

Coinbase reached the same milestone in February and now Simplex joins it in the ranking of crypto-native companies getting main membership status. Coinbase had already reached the same milestone in February, although it has not yet made direct use of the capacity, as its cards continue to be issued by third-party providers.

Wale verschieben $967 Millionen in Bitcoin in den letzten zwei Tagen, während BTC knapp unter $27,000 gehandelt wird

In den vergangenen zwei Tagen haben Krypto-Wale Bitcoin im Wert von $967 Millionen zu winzigen Transaktionsgebühren bewegt, während Bitcoin $28.000 erreichte und wieder unter $27.000 fiel

Inhalt

  • 35.756 Bitcoins von Walen einfach so verschoben
  • Bitcoin übertraf am Sonntag $28.000
  • Hier ist, was Bitcoin nach oben treibt, sagt Adam Back

Der Krypto-Tracking-Bot Whale Alert hat kumulativ sieben gigantische Crypto Code entdeckt, die heute und am Sonntag durchgeführt wurden und $967.664.628 in BTC transportierten.

35.756 Bitcoins wurden von Walen einfach so verdrahtet

Laut Whale Alert haben große Kryptowährungsbesitzer in sieben Überweisungen eine riesige Menge an Bitcoin zwischen anonymen Wallets gesendet.

In der letzten Stunde wurden 4.325 BTC (117.300.857 USD) verdrahtet. Der Absender zahlte eine Gebühr von nur 10 US-Dollar für diese wertvolle Übertragung.

Diese Gebühr ist nicht zu vergleichen mit dem Betrag, den eine mit PayPal verbundene Bank verlangen würde, zusammen mit einer Menge Papierkram, der einem solch massiven Transfer folgen würde, wie ein Krypto-Experte in seinem Tweet betonte.

Am Sonntag, den 27. Dezember, fanden sechs weitere Transaktionen statt, die jeweils ungefähr eine ähnliche Menge an Bitcoin enthielten.

Eine von ihnen verschob jedoch 10.000 Bitcoins, was 267.938.255 Dollar in Fiat-USD entspricht.

BTC

Bitcoin übertraf am Sonntag $28.000

Am 27. Dezember durchbrach das Flaggschiff der Kryptowährung die 28.000-Dollar-Marke, was vielleicht nur einen Tag zuvor unerwartet war; am Samstag wechselte BTC den Besitzer im Bereich von 24.800 Dollar und durchbrach später am Tag die 25.000-Dollar-Marke.

Zum Zeitpunkt der Drucklegung ist der König der Kryptowährungen jedoch wieder von dem am Vortag erreichten Meilensteinniveau zurückgefallen.

Früher am Tag wurde Bitcoin über $27.000 gehandelt, aber es hat sich jetzt auf den aktuellen Kurs von $26.789 zurückgezogen.

Hier ist, was Bitcoin nach oben treibt, sagt Adam Back

In der Zwischenzeit steigen Einzelhandelsnutzer weiterhin über den Giganten Paypal in Bitcoin ein. Wie der CEO von Pantera Capital, Dan Morehead, letzte Woche berichtete, hat die Paypal-Plattform mehr als 100 Prozent der neu geminten BTC aufgesaugt.

Der CEO von Blockstream, Adam Back, glaubt, dass es die Einzelhandelsnutzer waren, die Bitcoin am Weihnachtstag über drei neue Allzeithochs getrieben haben: $24.700, $24.800 und schließlich $25.000 pro BTC.

DOGE Price Crushes LunarCrush Metrics

Lunar Crush shows increased activity on social media corresponding to the increase in DogeCoin prices.

Although created as a „joke“, DogeCoin has high profile supporters on the internet, such as Elon Musk.

Lunar Crush is a social media aggregator and cryptocurrency analysis platform

Lunar Crush, a social media aggregator and real-time cryptocurrency analytics platform, has found a strong correlation between cryptocurrency social media activity and changes in asset prices.

Referring to DogeCoin, Lunar Crush tweeted, “Wow. With a booming social activity, a still high price and a well-trained Shiba Inu, Doge is the number 1 altcoins according to AltRank ”. AltRank is an exclusive formula created by Lunar Crush. It “combines the performance of altcoin prices against Bitcoin Legacy and indicators of social activity”.

The tweet continues to dive into statistics. He says DOGE jumped 58.8% in terms of social mentions, 23.1% in social engagement and 14.6% in price.

Diving into the social analysis of Lunar Crush on DogeCoin, it’s easy to see the correlation between its AltRank trend and its price. Looking at the 24 hour chart, we see that DOGE’s AltRank is hovering between 40 and 60 with little price movement. As of 10 am today, we see spikes in DOGE’s AltRank and price that take it to # 1 AltRank. At the same time, the price rises by 15%.

Social networks aren’t the only factor that can determine a course change. However, we can see a well-established correlation between an increased social media presence and an increase in asset prices. Going forward, cryptocurrency social media analysis can be an important tool in determining fundamental views around the asset.

What is DogeCoin?

DogeCoin, also known as DOGE, is a cryptocurrency based on the popular Internet meme „doge“ featuring the dog breed Shiba Inu. The DOGE team initially created it as a joke crypto. However, fans on the internet quickly adopted her.

Currently, it has a market capitalization of over $ 550 million. This makes it one of the 50 largest cryptocurrencies by market cap.

DogeCoin doesn’t offer much more utility than any other cryptocurrency focused on storing and transferring value. However, its status has grown tremendously in the crypto arena. Even billionaire Elon Musk sarcastically escaped the inevitability of DogeCoin as a financial standard in the global financial system. He even once crowned himself “CEO of DogeCoin” in his Twitter bio.

It is up to the users to decide if they want to get involved in the DogeCoin ecosystem . However, when analyzing the movement of cryptocurrency prices, using social media statistics is a great way to help assess the movement of an asset’s price.

Tesla: Elon Musk flirts with Bitcoin investment

Elon Musk makes advances in the direction of a billion dollar Bitcoin investment and promptly receives free advice from MicroStrategy CEO Michael Saylor on Twitter.

Two people looked for each other and found each other: A lively Bitcoin debate broke out on Twitter between Tesla CEO Elon Musk and MicroStrategy CEO Michael Saylor, which made waves in the crypto space. Michael Saylor used a suggestive post from Musk for free investment advice.

To the crypto compass magazine

Saylor’s “insider tip”:

If you want to do your shareholders a $ 100 billion favor, convert the $ TSLA balance sheet from USD to BTC.

According to Saylor, the charisma of a Tesla entry into Bitcoin could also entice other S&P500 companies to invest, thereby boosting BTC market capitalization and quickly increasing the value of a USD 100 billion investment by ten times.

The simple calculation finally worked out in the case of MicroStrategy: Since the listed software company shifted around $ 475 million of its cash reserves into BTC, the investment in the course of the Bitcoin Bull Run has reached a current value of over 958 million US dollars more than doubled.

Musk, who is not a blank slate when it comes to crypto currencies, then joined the discussion again and asked Saylor whether transactions of this magnitude were even possible.

Saylor’s answer was not long in coming. An unequivocal: Yes. He himself has invested 1.3 billion US dollars in Bitcoin in the last few months and would like to share his “playbook” with Musk, from one rocket scientist to another.

Tesla soon to be Bitcoin Hodler?

It remains to be seen how serious Musk’s statements are. The Tesla and SpaceX CEO often uses irony as a stylistic device on the short message platform. Nevertheless: A BTC entry is actually not completely excluded. Musk has already expressed his admiration for digital gold in the past and, as the proud owner of – after all – 0.25 BTC, already belongs to the Hodler class . He also has to repeatedly serve as a potential CEO candidate for the MemeCoin project Dogecoin .

The balance sheet also confirms MicroStrategy’s investment strategy and could follow Musk’s words with deeds. A former project by the bustling businessman, PayPal, has finally opened up to the Bitcoin economy as well. Not unlikely that Tesla could follow suit. The right Bitcoin ATM is already there in the Gigafactory in Nevada .

Bitcoin-tyveri vil sandsynligvis stige i ringe økonomi efter COVID: Rapport

Cyberkriminelle kan dog favorisere en anden kryptovaluta i de kommende måneder.

Cryptovaluta-relateret svig og tyveri vil sandsynligvis vokse i post-COVID-19-verdenen, ifølge en ny rapport fra cybersikkerhed og antivirusudbyder Kaspersky Lab

Securelist, Kasperskys forskningsarm for cybertrussel, offentliggjorde en rapport om cybertrusler til finansielle organisationer og forudsagde nogle specifikke typer økonomiske angreb, der sandsynligvis vil stige i 2021.

Securelist har forudsagt, at en bølge af fattigdom, der er drevet af COVID-19-pandemien, uundgåeligt vil føre til „flere mennesker, der griber til kriminalitet, herunder cyberkriminalitet.“ Det kan også betyde en stigning i forbrydelser relateret til Bitcoin Code.

Ifølge Kasperskys forskningsarm er Bitcoin sandsynligvis det mest attraktive aktiv for cyberkriminalitet, fordi det er det mest populære digitale aktiv. Rapporten lyder:

”Vi ser muligvis visse økonomier gå ned, og lokale valutaer styrter ned, hvilket vil gøre Bitcoin-tyveri meget mere attraktivt. Vi kan forvente mere svindel, der hovedsagelig er målrettet mod BTC, på grund af at denne kryptokurrency er den mest populære. ”

Securelists forskere foreslog også, at online gerningsmænd kunne skifte til mere privatlivsfokuserede digitale aktiver som Monero ( XMR ). Ifølge virksomheden ville denne switch ske på grund af den stigende „tekniske kapacitet til overvågning, deanonymisering og beslaglæggelse af BTC.“ Securelists rapport lyder:

”Vi bør forvente, at cyberkriminelle skifter til kryptokurrency-transit for at opkræve ofre. Der er en grund til at tro, at de måske skifter til andre privatlivsforbedrede valutaer, såsom Monero, for først at bruge disse som en overgangsvaluta og derefter konvertere midlerne til enhver anden kryptokurrency, der vælges inklusive BTC.

Som tidligere rapporteret af Cointelegraph, faldt kryptorelaterede forbrydelser betydeligt i 2020, selvom nogle kryptosektorer, som decentraliseret finansiering, er blevet nye hotbeds for kriminel aktivitet. Ifølge en rapport fra det virtuelle private netværksfirma Atlas VPN vil krypto- og blockchain-relaterede hacks sandsynligvis fortsætte med at falde i 2021.

Bitcoin’s whale groups show that these are the strong support levels that we must take into account

The whale groups show that the key short-term support areas for Bitcoin are USD 16,694, USD 16,411 and USD 16,064.

Since reaching USD 19,484, the price of Bitcoin has struggled to regain the level of USD 17,000 to USD 18,000. As the price continues to fall, traders look for the key support levels to determine where they’ll buy if the BTC price continues to drop.

What happens to your Crypto Wealth when you die?

The immediate support levels based on the whale groups are USD 16,694, USD 16,411 and USD 16,064. Below that support the levels of USD 16,000, USD 15,355, USD 14,914 and USD 13,740 could serve as macro support areas.

Whale groups are formed when whales accumulate BTC and do not move their newly acquired funds. The groups also indicate where they last purchased the whales, which means potential support areas.
Bitcoin Whale Groups.

USD 16,411 is the short-term level to consider for Bitcoin

The price of Bitcoin has shown a weakened momentum in the last 24 hours. After such a significant correction, we have to wait for a consolidation phase, as the price seeks to stabilize.

Cryptoexchanges are better than auctions for liquidating confiscated crypto-currencies, says a Kaiserex executive

One positive trend is that buyers have been aggressively defending the $16,411 support area, which is marked by whale groups. This shows that there is enough demand from buyers in the market to avoid a wider setback, at least in the short term.

On November 27, Bitcoin tested the USD 16,200 to USD 16,400 support range twice in a 22-hour period. Both tests got a decent response from buyers, as BTC exceeded USD 16,800 in both cases.

Bloomberg presents 5 upward trends for the Bitcoin price despite the ‚Thanksgiving collapse

For most of the day, Bitcoin stayed above $17,000 and peaked at $17,400, showing signs that BTC is regaining momentum.

Still, some traders don’t rule out the possibility of BTC falling into the lower support areas. A pseudonymous trader known as „Wolf“ said that the weekly chart shows signs of overextension. As such, he said that the USD 13,000 region could be tested. The trader explained:

„Unlike $ETH, $BTC looks very spread out from the EMA of 21 on the weekly chart, still far from being an interesting support. My ideal entry would be the main support described in 13k. Currently, we could maintain the weekly support of 16213 and then go down for an ABC correction“.

Another trader known as „Crypto Capo“ suggested a similar trend. He said he sees a scenario where BTC rises to USD 18,000 and then falls to the USD 13,000 region.

BTC/USD 6 hour chart

An interesting price action means a more technical analysis. I hope the trend cools off here. USD 17,214 is the key level to watch, the daily close below here and I hope we move to test the 0.382 level.

Traders expect Bitcoin consolidation to last for weeks

Although there are short-term bearish predictions from Bitcoin’s long-term investors, some technical analysts say that consolidation could take some time.

November 27 Price Review: BTC, ETH, XRP, BCH, LINK, LTC, ADA, DOT, XLM, BNB

Michael van de Poppe, a full-time trader at the Amsterdam Stock Exchange, said the market was facing a healthy downturn. After the correction, Poppe said the consolidation could take several weeks. He said:

„Relax and walk away, the market is making a healthy correction and giving everyone a great opportunity to invest. Don’t be impatient, the market will make a natural ground to confirm that it is in. It just takes a few weeks.

In the short term, the area of immediate interest for buyers remains the three levels of whale groups at USD 16,694, USD 16,411 and USD 16,064. If BTC falls below these levels convincingly, the likelihood of a deeper correction could increase significantly.

Getting back to normal: US macro events probably won’t completely derail Bitcoin price gains

After the sharp drop in the price of Bitcoin (BTC), the whale groups show several areas as key support levels. These levels could allow BTC to stabilize and regain its momentum in the short term.

El número de ballenas de Bitcoin es el más alto desde septiembre de 2016

El número de direcciones de Bitcoin con al menos 1000 BTC, comúnmente conocidas como ballenas de Bitcoin, ha alcanzado un máximo histórico de 4 años desde aproximadamente el mismo período en 2016, lo que coincide con el reciente aumento de precios de Bitcoin.

Según los datos de la empresa de análisis en cadena Glassnode, ahora hay 1939 direcciones Bitcoin con un mínimo de 1.000 BTC. La última vez que hubo un número tan alto de acumulación fue en el otoño de 2016, poco antes del encierro de 2017.

Las ballenas de Bitcoin son conocidas por su poder para afectar la dinámica del mercado de Bitcoin, influyendo en la presión de compra o venta y cambiando potencialmente una cierta dirección de los precios.

La semana pasada, el número de ballenas aumentó un 2,2%, posiblemente aumentando la presión de compra y contribuyendo a la actual subida de precios de Bitcoin por encima de los 13.000 dólares.

La demanda de BTC es mayor que la oferta

Los datos de Glassnode también indican que el suministro activo de Bitcoin está a un mínimo de 3 años de 1,3 millones de BTC.

„El suministro activo de $BTC 7y-10y (1d MA) acaba de alcanzar un mínimo de 3 años de 1,318952.381 BTC. El mínimo de 3 años anterior de 1.319.005,968 BTC se observó el 18 de octubre de 2020.“

El precio de Bitcoin Profit Secret cobró impulso después de que Paypal anunciara servicios de comercio y pago encriptados a más de 340 millones de clientes. El precio de BTC subió a 13.300 dólares el jueves, antes de retroceder y establecerse por encima de los 13.000 dólares.

En 2020, el número total de ballenas ha aumentado en un 13% con un notable impulso de la inflación del 20% en dólares americanos, que ha sido un foco clave para Bitcoin como una tienda de valor ahora más superior.

Los informes han indicado que mientras que los individuos fueron los primeros en convertir el fiat en BTC para preservar el valor, los inversores institucionales en 2020 también han acelerado la subida de precios de Bitcoin convirtiendo porcentajes de sus carteras en Bitcoin.

El próximo precio objetivo de Bitcoin es de 30.000 dólares

Bitcoin ha registrado hasta ahora el mejor rendimiento de precios semanales en 6 meses después de que su valor de mercado aumentara un 13%, recuperando un dominio del mercado por encima del 60%.

Como se informó anteriormente, el sentimiento general sobre la dirección del precio de Bitcoin es alcista. En junio de 2019, el precio de Bitcoin subió a 13.800 dólares, un nivel que los analistas creen que sólo será un peldaño para que Bitcoin supere su máximo histórico de 20.000 dólares.

Además, los analistas están considerando los 30.000 dólares como el próximo destino del precio con el apoyo de indicadores técnicos y fundamentales. El multimillonario partidario de Bitcoin y de los fondos de cobertura, Paul Tudor Jones, declaró en una entrevista con la CNN que Bitcoin está a punto de despegar.

„Me gusta Bitcoin incluso más ahora que entonces. Creo que estamos en la primera entrada de Bitcoin“.

Update should make 51 percent attacks more difficult

Vitalik Buterin and his employees want to get the risk of hacker attacks on the network under control with an update. An algorithm should be able to distinguish „honest“ from „suspicious“ block suggestions.

With an updateEthereum Classic should become more secure

Modified Exponential Subjective Scoring (Modified Exponential-Subjective Scoring: MESS) will make it more difficult for hackers to carry out successful 51 percent attacks. You would have to use significantly more computing power (hash rate) to replace blocks that have already been „mined“.

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Ethereum Classic is a platform that is based on the proof-of-work principle. The miner, who digs the next block with his computing power, sends the success message to the entire network. All other miners can easily check whether they have complied with the network-specific rules. If this is the case (ergo the majority agrees), the blockchain is expanded to include the same block. With Bitcoin Trader review, this happens every 13 seconds.

In a 51 percent attack, however, hackers bypass the network check by using more than half of the computing power themselves. So they are both producer and inspector, which opens up a number of possibilities for them. The more energy you invest in computing power, the more blocks you can rewrite in the blockchain: With Ethereum Classic you can manipulate transactions that have already been made at will. In the case of blockchains with many miners (and thus a high hash rate), however, a 51 percent attack is almost hopeless.

Ethereum Classic has security issues

However, it is not impossible. In the recent past, 51 percent attacks have plagued the network relatively often . Isaac Ardis, one of the main developers of the network, believes that such attacks will always be possible on any blockchain. The MESS principle now makes this more difficult. Reorganizing the most recently mined blocks can be helpful. However, if a reorganization reaches back dozens, hundreds or even thousands of blocks, it is noticeable. If blocks were created on the Ethereum Classic blockchain more than ten minutes ago (i.e. they are more than 46 blocks ago), a mechanism now takes effect.

Depending on the number of blocks, the required computing power increases by a factor between 1 and 31 so that the network considers the reorganization to be legitimate. So if a hacker wants to change blocks, he now has to muster significantly more computing power than before. It is becoming increasingly unlikely that the effort will still be worth it.

Compatibility with multiple software versions

No hard fork, i.e. a split in the blockchain, is necessary for the implementation. If an attack takes place, miners using the update will reject the attacker. Old version miners will be at the mercy of the attack. However, the developers of Ethereum Classic assume that hackers only act in the short term and opportunistically. Therefore, righteous miners can rejoin the blockchain later.

The network is the „original“ of the blockchain published in 2015 by Vitalik Buterin. After a hacker attack, however, it split: Today’s larger Ethereum is the name of the younger blockchain, while on Ethereum Classic the unchanged history of the network can be traced back to the beginning. If Ethereum goes over to the proof-of-stake principle, another hope, some miners will come to the original. This would also increase the security of this blockchain.