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Why is the ETC Price Steady Despite Risk of Further 51% Attacks?

imageCryptocurrency7 hours ago (Aug 08, 2020 03:40AM ET)

Why is the ETC Price Steady Despite Risk of Further 51% Attacks?

After suffering two major blockchain reorganizations over the past week, Ethereum Classic (ETC) has seen its hash rate plummet — exacerbating the risk of further 51% attacks targeting the network.

As a consequence of the ETC’s miner capitulation, the estimated cost of executing a 51% attack targeting Ethereum Classic using hash power rented from NiceHash has fallen from $12,000 per hour as of yesterday to less than $4,000, according to Crypto51.

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Why is the ETC Price Steady Despite Risk of Further 51% Attacks?

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