Specialists of a new division of the company Ethereum Classic Labs will address the security and performance issues of the blockchain of the cryptocurrency ETC (Ethereum Classic). The new division, established by Ethereum Classic Labs, has been named ETC Labs Core. The task of the ETC Labs Core specialists will include work to improve the security of the digital asset's network and to create tools for the efficient launch of blockchain applications and mining.
The need to improve the ETC blockchain arose after a hacker attack on the digital currency's network in early January. As a result of the attack, cybercriminals stole coins worth $1.5 million. Because of this attack, known as the 51% attack, the cryptocurrency's rate began to fall, as traders feared its recurrence.
During the first quarter of 2019, the development team of the ETC Labs Core division will focus on analyzing the consequences of the Constantinople hard fork in the ether network (ETH). Then the developers will launch a mechanism to optimize the ETC network and adapt it to the Constantinople fork in the ETH network. In parallel, the ETC Labs Core team will work on studying the performance metrics of blockchain chains and will assess the consequences of the 51% attack.
