In the recent days – when Ethereum’s Ether-blockchain forked into ETH and ETC – we could not do else but read the term “Replay Attack”. If you wondered what exactly a replay attack is, continue to read. I will explain.
The basis of the Replay Attack is the fact that all wallets which contained Ether at the time of the fork will credit their corresponsing Ethereum Classic wallets with ETC. So, if you had, say, 100 ETH in your wallet, then you’ll be credited with 100 ETC.
But that’s not an automatic process (well, it is, but only under certain circumstances): it only works on exchanges which support the quasi-new Ethereum Classic chain.
Tonight, ETC (Ethereum Classic) trading has launched on Poloniex. Some folks have decided to stick to the principles of blockchain and not support the idea of just rolling things back for minor purposes. That’s when Ethereum Classic was born.
Reasoning behind the creation of ETC was the strong belief that the resolution of the DAO debacle was handled “in the worst way possible”, and that there’s still a significant minority opposition which was against the DAO bailout hard fork:
“The main goal of the project is to ensure survival of the original Ethereum blockchain. We will strive to provide alternative for people who strongly disagree with DAO bailout and the direction Ethereum Foundation is taking their project. Anyone opting to remain on the original chain should have such opportunity.” – ethereumclassic.github.io
Plans are to continuously develop the Classic fork and “maintain upstream patches similar to the relation between Redhat and CentOS, until a community can form around the project and create a road map”.