Ethereum Classic

Chandler Guo, a well known Ethereum Miner, previously threatened to attack Ethereum Classic (ETC) using his mining farm. Now, he is using it to protect ETC from a different 51% attack.

Guo made headlines last week when he threatened to attack Ethereum Classic using a 51% attack. His proclamation coincided with a massive increase in hashing power on the Ethereum Classic network. That increase made a 51% attack infeasible for Guo or virtually anyone else.

Last week, “blckeagls” announced 51Pool’s existence on the Ethereum forum. The pool’s goal is to “raise enough hash rate to perform a 51% consensus takeover on ETC.”  51pool is currently being used to mine ETH on the Ethereum Core blockchain and will continue to do so until it attempts its attack on ETC.

Chandler Guo is the CEO of Bitangle and a well known Ethereum Miner. After news of Ethereum Classic’s continuation of the non-modified blockchain, Guo threatened to attack it with his mining farm.

After the ETC network grew to a point where Guo could no longer attack it, he announced that he had a change of heart and wouldn’t attack ETC. Guo stated that he didn’t want to hurt innocent Ethereum Classic holders.

After news of the 51pool.org’s creation spread, Guo announced that he would protect it using the same hashing power he previously used to threatened ETC.

We have reached out to Guo but have not heard back at press time.

Who Is 51Pool.org?

The creator of 51pool.org is unknown. The poster who announced its creation on the Ethereum form had only a handful of posts. The site’s ICANN Whois registration is protected by a registration company “Domains by Proxy” based out of Arizona.

Currently, the pool claims an insignificant amount of hashing power: 432 MH/s. The entire Ethereum Classic network boasts a 667 GH/s and rising. To attempt a 51% attack on Ethereum Classic, 51pool.org will need to increase its hashing power by over 77,000%. That figure is assuming the ETC network doesn’t gain any more hashing power in the meantime.

With only five listed miners at press time, it does not seem like 51pool.org is a threat to Ethereum Classic. Instead, the press it generated seems to have galvanized Guo and other traditional ETH supporters into pledging protection for ETC.

[Note: Artwork created using Paint.net and Prisma]

  • don77701

    Look the person or entity to blame is the DAO programmer with horrible coding. Who the heck codes without any limits on gas or ETH give outs. You put a limit, so if you get hacked, you don’t lose much. Don’t you get it, ETH is a platform coin, where many will create codes from it. You think every one of these codes will be perfect. NO. Faulty codes have been around as look as coding came into existence. Even if it good coding than, someone may turn it obsolete. That is just how programming is.
    I will say this now, in the future these coin may not hard fork for every error programming or hacked systems, but they will probably do it for huge mistake and major loses. Of course their will be people in the inside that will work the system for their benefits as there are today in regular markets.

    • Alex Darby

      You are obviously not a programmer.

  • don77701

    I’m rethinking this. In the future when all transaction is on the blockchain, is it possible halt all action so they can hard fork??? In a future world, where transaction happen 24/7, you can’t just stop everything to hardfork.