Cardano creator and IOHK CEO Charles Hoskinson criticized Ethereum Classic developers for seeking the legal assistance of the government in the wake of three 51% attacks last August.
Hoskinson, a mathematician who is also one of the founders of Ethereum, said in a tweet that the Ethereum Classic community is “doing it wrong” if it is going to execute legal action against the entities behind the successive 51% attacks.
Protip: if you have to ask the government to fix your cryptocurrency, then you’re doing it wrong https://t.co/FT0leX0FsP
— Charles Hoskinson (@IOHK_Charles) September 5, 2020
Hoskinson’s remark was in reply to Ethereum Classic’s Medium post, wherein the developers said that they are “currently working with authorities in relevant jurisdictions” as part of their “steps necessary” to secure the network and to prevent any occurrence in the future.
According to the announcement, the attacks became possible due to hash rates purchased from NiceHash, a cryptocurrency mining and trading platform. ETC Labs, the official organization of Ethereum Classic, will be pushing for hash rental regulation with the assistance of governments with such jurisdiction.
A couple of days after the said blog post, IOHK proposed a checkpointing solution against 51% attacks. The proposal makes use of Cardano (ADA) or Bitcoin.
According to the presentation, the solution will make use of Ouroboros Byzantine Fault Tolerance (OBFT) and that only those who can perform the checkpointing are trusted members.
A 51% attack is a malicious cyber attack wherein a specific entity takes 51% of the network’s computing power. If the entity succeeds in doing so, he can rewrite the transaction history, prevent new transactions from happening, or even perform double-spending.
As in the case of Ethereum Classic, the entity behind the attacks were able to reorganize over 7,000 blocks, equivalent to two days of mining.