0xBitcoin Price

ETC new Network Security Plan involved possibly adopting 0xBitcoin inspired proof of work algorithm

<!-- SC_OFF --><div class="md"><p>The main motivation for changing the algorithm is to step out of the shade of the Ethereum network which is powered by the Dagger Hashimoto proof-of-work, also known as Ethash. This could be implemented within 6 months, depending upon the results of testing. As a minority chain with regards to the total hash rate using the same mining algorithm as the Ethereum network, Ethereum Classic is not only vulnerable to 51% attacks, but these attacks are possible to execute due to the available hash rate that can be rented on various platforms.</p> <p>Switching to a unique mining algorithm could position Ethereum Classic as a leader in its own class of proof-of-work.</p> <p>The Ethereum Classic community has discussed several algorithms thus far, two of which are promising:</p> <ul> <li>SHA3, or specifically Ethereum’s Keccak256 (<a href="https://ecips.ethereumclassic.org/ECIPs/ecip-1049">ECIP-1049</a>)</li> <li>RandomX, a proof-of-work for general-purpose CPUs (<a href="https://ecips.ethereumclassic.org/ECIPs/ecip-randomX">ECIP-1093</a>)</li> </ul> <p><a href="https://ecips.ethereumclassic.org/ECIPs/ecip-1049">ECIP-1049</a> is based on the EIP918 standard first developed for <a href="https://www.0xbitcoin.org/">0xBitcoin (0xBTC)</a>.With the direction that Ethereum Classic is taking: a focus on Layer-2 solutions and cross-chain compatibility; being able to evaluate proof of work on chain, will be tremendously valuable to developers of both smart-contracts and node software writers.</p> <p>This could greatly simplify interoperability. this could be implemented on ETC through a hard fork with public community calls scheduled for August 20 and August 28, 2020!</p> <p>Source:</p> <ul> <li><a href="https://medium.com/ethereum-classic-labs/etc-network-security-plan-fed70402b727">ETC Network Security Plan</a></li> <li><a href="https://ecips.ethereumclassic.org/ECIPs/ecip-1049">ECIP 1049: Change the ETC Proof of Work Algorithm to Keccak256</a></li> </ul> </div><!-- SC_ON --> &#32; submitted by &#32; <a href="https://www.reddit.com/user/bucketup123"> /u/bucketup123 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/idliyo/etc_new_network_security_plan_involved_possibly/">[link]</a></span> &#32; <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/idliyo/etc_new_network_security_plan_involved_possibly/">[comments]</a></span>