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Ethereum Classic [ETC] outperforms Ethereum [ETH] even after 51% attack

Ethereum classic [etc] outperforms ethereum [eth] even after 51% attack

Ethereum Classic [ETC] outperforms Ethereum [ETH] even after 51% attack

The growling bear has not shown mercy on any coin in the CoinMarketCap list and had led to a bleeding market over the past couple of days. However, Twitter user Kevin Rooke made an observation regarding Ethereum [ETH] and Ethereum Classic [ETC], that astonished many.

Kevin tweeted:

“Last week, Coinbase announced a 51% attack on Ethereum Classic worth over $1 million in double-spends. Since then, Ethereum Classic has *outperformed* Ethereum by 7%. WTF.”

Source: twitter

Source: Twitter

Recently, Ethereum Classic faced a 51% attack from hackers that raised a lot of questions on the security of the digital assets. The hackers or organization behind the 51% attack are still unknown, but as of January 13, the hackers returned 100k USD worth of token to the company. Exchange Gate.io has not yet been able to find out the individual or the group of people behind the attack along with the reason of the sudden change of heart.

However, the observation presented by the Twitter user stands true as the picture attached with the tweet shows precise calculations about Ethereum Classic [ETC] having suffered comparatively lesser damage than Ethereum [ETH] even after being a victim of the 51% attack.

The data was collected by the user for ETC on the January 7, when ETC recorded a 24-hour trading volume of $126 million. The user compared the growth of the coin with ETC’s 24-hour trading volume of January 13, which was recorded to be $114 million. The coin reported a dip by 16.7% according to Kevin’s calculation.

ETH, recorded a trading volume of $2.7 billion on January 7 after which it fell to $2.2 billion on January 13. The coin suffered a loss of 23.7% over the week, which is seven percent more than that of ETC. ETH suffered more loss in a week than ETC, even after being attacked and the transactions being halted for more than a day.

At the time of press, ETH was valued at $118.90, with a market cap of $12.4 billion. The coin registered a 24-hour trading volume of $2.4 billion, whereas, ETC was valued at $4.28, with a market cap of 459 million. The 24-hour trading volume of the coin was noted to be $121 million with a fall of 3.84%.

The post Ethereum Classic [ETC] outperforms Ethereum [ETH] even after 51% attack appeared first on AMBCrypto.

Published at Tue, 15 Jan 2019 20:03:44 +0000

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‘Freight Uber’ A2B Direct Develops a Blockchain Solution for Its Platform

The logistics industry has been in thrall to intermediaries and bureaucrats for decades, if not centuries. Smugglers and con artists have used its infrastructure to run their illicit businesses. Complexities of supply chains and cargo tracking, as well as enormous forwarding expenses and ceaseless document flow, have resulted in a serious increase of expenses. This all might change, however, with A2B Direct rolling out its innovative blockchain solution that some have already dubbed a ‘freight Uber.’

Disrupting the Industry

Logistics isn’t just about making sure a cargo travels from one city to another. It’s about taking care of customs clearance, drawing up all necessary papers, agreeing and re-agreeing to everything over and over again, contacting drivers, customers, and state officers, dealing with security issues, addressing payments issues, and hundreds of other problems.

All of these complications have caused the entire industry to become cumbersome. The slightest deviation from a planned schedule might discontinue the entire supply chain.

Supply chains themselves also tend to be too long for any proper auditability. There are instances where it becomes fairly impossible to find even something as simple as the place of a product’s origin.

[youtube https://www.youtube.com/watch?v=xH6VO3pQhOo?feature=oembed&w=500&h=281]

A2B has offered an elegant solution to all those problems. Its new Uber-like platform directly connects customers with contractors and ensures complete traceability of cargo while taking care of all paperwork, which includes but is not limited to insurance and legal issues.

Thanks to the platform, a cargo owner may easily find the best customer for their purposes online, while the freight forwarders may be sure that all issues are taken care of, and find the best deals nearly instantaneously.

This alone could suffice to completely change the rules of the entire game, however, A2B opted to develop its solution even further, and transfer it onto blockchain.

Integrating Blockchain

Blockchain has been a somewhat buzzword for multiple industries in the recent years. News concerning its implementation in different areas like property rights or finance pop up every now and then.

However, even though it seems to perfectly fit as the cure the vicissitudes of international transportation businesses, there are only a handful of projects that address this area, and neither of them has dared to work with the entire industry so far.

Blockchain technology could automatically trace all parts of the industry, including movements of trucks, execution of documents, and so on. Additionally, it is capable of working with the paperwork itself, thus moving intermediaries even further from the business. Finally, it can offer what no centralized solution could dream about: a totally tamper-proof environment that is completely auditable.

Supply chain on the blockchain

It all could make the entire industry transparent while seriously cutting expenses on running a business. For that reason, blockchainizing a solution that has already significantly simplified everything for cargo owners and freight forwarders seems a perfect idea.

A2B’s platform has already garnered support from some government institutions as well as stakeholders in local telecom, oil and gas, and insurance industries. Even though it currently operates in the Eastern Europe, it intends to expand to the developed economies of North America and Western Europe.

As blockchain enters more and more industries these days, such movements may signify that in a few years the technology will be able to empower the entire economy, and the world of tomorrow will finally become the world of today.

Are blockchain-based logistics platforms like A2B the answer to better supply chain and cargo tracking? Let us know what you think in the comments below.

Images courtesy of A2B Direct, Shutterstock

The post ‘Freight Uber’ A2B Direct Develops a Blockchain Solution for Its Platform appeared first on Bitcoinist.com.

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