Ethereum Classic has become the latest victim of the Geth exploit which had also afflicted Ethereum about a week ago. The exploit actually managed to create hassle for the community. How badly was ETC affected by this exploit?
Ethereum Classic splits
On September 3, the ETC mainnet split due to the exploit which had previously affected the Ethereum mainnet on August 27. This was the results of an attacker discovering an exploit on the “Go Ethereum” consumer which impacted the older variations of the consumer. This led the blockchain to undergo an unplanned hard fork.
As per information, quickly after the cut up occurred, over 20% of the mainnet’s hash charge witnessed a drop.
This decline likely came from miners or pools which had been using the unpatched version of Coregeth. Within the whereas that it took for the patch to reach, the community had already taken successful. NVT ratio showed that the network value went down, following the exploit.
However greater than that, the impact on miners additionally disturbed the issuance charge of ETC. Issuance saw a fall to its single-day lowest in 2 months to 20.3k ETC.
What about the investors?
uyers weren’t affected a lot by this bug since nodes have been up to date quickly after. For the most part, they did not witness any major negative impact. Lively addresses rose to 37.7k. Daily volumes were intact too, jumping to $228 million.
General, the Geth exploit doesn’t seem to be a serious concern. Taking a cue from Ethereum’s experience with the Geth exploit, the Ethereum Classic network will likely remain unimpacted. Ethereum Traditional’s future appears to be like secure from an funding standpoint