After suffering two major blockchain reorganizations over the past week, (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 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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