To address multiple security breaches, Ethereum Classic Labs has teamed up with ChainSafe as well as OpenRelay, aiming to better defense against 51% attacks.
According to a post, Ethereum and its Core Dev Team is going to work together with ChainSafe along with OpenRelay so as to develop and test security responses.
The founder and chairman of Ethereum Classic Labs James Wo noted that this move would boast a significant meaning:
"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."
OpenRelay will give a hand to Ethereum to “develop practical simulations and models for the proposed features, establishing testnet infrastructure, and designing and implementing testnet tests”. At the same time, ChainSafe is committed to reviewing a lot of security proposals to enable the network to be safe.
Ethereum has suffered no less than three 51% attacks in August alone. What’s worse, these attacks caused OKEx and other exchanges to warn Ethereum that ETC will be delisted on platforms if the upgrade of its security cannot be guaranteed. The firm that devoted to improving its security noted that regulation may play a leading role in preventing any future attacks via restricting hashpower rental firms. They stated that more than two of these attacks are due to rented hash power from NiceHash.