Ethereum Classic has experienced a chain reorganization of 3,693 blocks. The ETC team noted that the reorg was caused by a miner who lost internet access while mining. The network will continue to move ahead on the chain, which includes the 3,693 blocks. ETC/USD recovers after two bearish days. Several entities associated with Ethereum Classic (ETC) informed the community that the network recently suffered a reorganization (reorg). In what was first thought to be a 51% attack, 3,693 blocks on the network were “reorged,” causing a miner to process all the blocks in 12 hours. Soon after spotting the reorg, Binance announced that it would suspend all ETC deposits and withdrawals. After investigation, it was found that the event was a non-malicious mistake made by a miner with a lousy internet connection. The ETH team noted: It could be that the offending miner has lost access to internet access for a while when mining, which led to a 12 hour mining period and about 3000 blocks inserted. On the first 2000 blocks, there was 1 miner and a total of 5 transactions. The developers clarified that these transactions will be resubmitted to the mempool if they have failed. They reassured that ETC holders have nothing to worry about. Ethereum Classic will continue to move ahead on the chain, which includes the 3,693 blocks. ETC devs recommended miners to continue mining on the split chain as the consensus rules intend. Continue mining the chain as-is (chain is currently following the heaviest work which includes the about 3000 block inserted). This is the recommended option as the chain is following Proof of Work with the longest chain as intended. ETC/USD daily chart The reorg triggered two full bearish days, however, the bulls look to recover the price. ETC/USD has gone up from $7.1583 to $7.212. ETC/USD bulls wil next face resistance at $7.412 and $7.64. $7.07 (SMA 200), $6.94, $6.74 (SMA 20) and $6.63. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next GBP/JPY ignores Monday’s Doji to recall bulls attacking 139.00 FX Street 3 years Ethereum Classic has experienced a chain reorganization of 3,693 blocks. The ETC team noted that the reorg was caused by a miner who lost internet access while mining. The network will continue to move ahead on the chain, which includes the 3,693 blocks. ETC/USD recovers after two bearish days. Several entities associated with Ethereum Classic (ETC) informed the community that the network recently suffered a reorganization (reorg). In what was first thought to be a 51% attack, 3,693 blocks on the network were “reorged,” causing a miner to process all the blocks in 12 hours. Soon after spotting the reorg,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
