MXC Exchange Supports Ethereum Classic’s new MESS Solution to Mitigate 51% Attacks

Singapore, Oct. 14,2020 — MXC (www.mxc.com), a leading and reputable cryptocurrency provider of spot, margin, contract, leveraged ETF, index products, contract, PoS staking, and OTC services, offers its support to the Ethereum Classic (ETC) project. Following multiple 51% attacks against the ETC network, MXC Exchange will cooperate with their team and implement the proposed upgrades to ensure a smooth operation of the network.

Ethereum Classic and 51% Attacks

Three 51% attacks were launched against the Ethereum Classic blockchain in July and August of 2020. . These 51% attacks are problematic, as they allow for potential double-spend transactions.

This attack, however, ensured that network nodes — running either Parity or OpenEthereum — were incapable of processing the reorganization as a result, these nodes become desynchronized from the ETC network, forcing the developers to come up with a solution. That solution will be fully supported by MXC Exchange, as the team wants to help ensure no further attacks against Ethereum Classic can be organized.

The Ethereum Classic team including ETC Labs, its ETC Core development team with support from OpenRelay and ChainSafe, on block 11380000, have implemented…