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Ethereum Classic (ETC) has suffered an attack of 51%, which seems to be unreal because cryptography with such stature that is attacked with such a high percentage is simply fabulous. But it happened in the past with Bitcoin Gold and Vertcoin, so we do not have to profess that such attacks can not happen. Blockchain technology is still new and presents vulnerabilities, which would improve over time.
Well, it was a Twitter user who claimed that ETC suffered 51% attack according to the Coinbase. The officials of Ethereum Classic have neither denied nor accepted this, which means that something has happened and that there is a great possibility of such a big attack. But despite the cryptos they were attacked earlier and gone. Therefore, ETC does not see the time to see their new developments, as they have a lot of work to do in their projects.
Recently, Ethereum Classic announced that it is introducing a new core development team for ETC Labs. The team has a great talent and experience. They will focus on ETC's core projects including the provision of tools for decentralized application development, ETC blockchain, services and mining. The team will work on problems that occur on the ETC blockchain and improve its security.
Furthermore, there is also a list of performance improvements planned for Ethereum Classic (ETC). This includes updating the Ethereum Virtual Machine (EVM) with faster speed, LLVM support, RPC schema, chain monitoring and IDE.
Updates arriving from Ethereum Classic are scheduled to be as follows. In Q1, SVM would be embedded that will allow SpitnikVM and EVM for embedded applications. Between the 2nd and 3rd quarters, there would be an update of the ETC JIT compiler, which will translate the EVM byte code into the native machine code. The JIT compiler will reduce the implementation time of the program by a margin of 3 to 4X. Then there is a back-end plan of EVM for LLVM between the second and fourth quarters. This would allow developers to have the opportunity to expose EVM to the LLVM community.
Ethereum Classic is dedicated to what they are doing and has the potential to overcome its shortcomings. Every digital resource has limits and with time they are able to cover it. We need to see the new ETC Labs team what they have to offer for the Ethereum Classic ecosystem.
Therefore, the Ethioum Classic HODLers must use HODL with their ETC coins and wait for the precise moment. Things will not be worse than that, they would prefer to improve. The market is outrageous and this happens when the market is new, it will take some time to get back into shape.
After the last days of the green market, where most of the digital activities have been traded in positive territory, the market has returned to bear mode. At the time of writing this book, Ethereum Classic (ETC) traded for $ 4.27 USD with a market capitalization of $ 459 million. In the last 24 hours, it has recorded a decrease of -2.40%.
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