As it grapples with multiple security breaches, Ethereum Classic Labs has partnered with ChainSafe and OpenRelay in hopes of increasing its defenses against 51% attacks.
In a post, Ethereum Classic and its Core Dev Team will work with both ChainSafe and OpenRelay to develop and test security responses.
James Wo, founder and chairman of Ethereum Classic Labs, said the partnership makes sense:
“OpenRelay and ChainSafe are both well acquainted with Ethereum Classic, through working together, will have some of the most brilliant minds in blockchain tackling the 51% problem in tandem. The team-up will bring additional expertise in Proof-of-Work security systems and testing environments.”
Ethereum Classic has seen at least three 51% attacks in August alone. These attacks even caused exchanges like OKEx to warn Ethereum Classic that it will delist ETC if it doesn’y upgrade its security. The company, determined to improve its security, said regulation may be the key to stopping any future attacks by limiting hashpower rental companies. They said at least two of the attacks were caused by rented hash power from NiceHash.