The Ethereum Basic Neighborhood is urging Coinbase to cut back extreme 3,000 blocks of examine waits, and known as outdated and dangerous to the person expertise.
In a put up on July 18th on X, community-driven account Ethereum Basic Dao claimed that ETC hashrate has skyrocketed to round 300 Th/s to achieve an analogous stage to Ethereum in 2021.
Nonetheless, at Coinbase, customers should look forward to 3,000 confirmations, in keeping with the Alternate web site. Based on BlockScout knowledge, this interprets to about 10-11 hours, given {that a} new ETC block is generated roughly each 12 seconds.
The excessive affirmation necessities for ETC are in stark distinction to Ethereum Transactions, which, in keeping with the Coinbase web site, require a 14-minute affirmation, and are normally cleared inside three minutes.
As of the time of reporting, Coinbase has not been made public to the neighborhood’s name for change or has not responded to Defiant’s request for remark.
A rocky previous
Alternate’s cautious stance comes from the historical past of ETC safety points. This contains a number of main 51% assaults the place malicious actors gained management of the community and gained manipulated transactions.
The community was reorganised in January 2019, and confronted three assaults in August 2020 alone, permitting attackers to double the coin.
Because of this, replacements like Coinbase have considerably elevated the verification necessities. In 2021, customers’ funds weren’t out there for nearly two days because the deposit reportedly required as much as 10,000 confirmations on Coinbase.
Community hashrates equivalent to
Though ETC’s safety has been tightened lately, its hashrate reached document highs, however issues about its vulnerability nonetheless seem to stay.
For now, customers might want to stand up to prolonged delays except the trade adjusts the chance evaluation. On the optimistic aspect, the holder has seen some reduction as the worth of the token skyrocketed by almost 30% amid a wider market gathering, following the Defiant worth web page to the extent final seen in February 2025.
