04 January 2017
During this week a blockchain fork occured resulting in 275 blocks being orphaned. At this time there is no indication of malicious intention. However the availability of cloud-mining services and the current low hashrate of Zclassic leaves the blockchain still susceptible to this risk.
By design the blockchain operates by the majority of miners performing the work so the best mitigation is to boost the network hashrate. Additionally we have also provided guidance to exchanges to minimize their risk by lengthening transaction confirmation times.
Zclassic is a self-funded project maintained by all volunteers. As a way to incentivize mining with Zclassic and to boost the network hashrate we will be starting an official mining pool based on our open-source mining platform. As a way to add additional incentive to mine Zclassic we will be offering miners an additional 6% in block rewards when mining on our pool. After the incentization period is over the pool will move to normal operations (with fees) to help gather funding for the project and to also assist its growth.
If you have any questions or concerns we invite you to join our lively Slack community at https://zclassic.slack.com.
Thanks for your understanding as we go through these growing pains.