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Ethereum (ETH)–Co-founder of Ethereum and cryptocurrency figurehead Vitalik Buterin has denied rumors that a proposed feature in the upcoming Constantinople hard fork will allow for an attack vector on the ETH currency.Buterin speaking in an Ethereum core developer call held on Feb. 15 dismissed allegations and industry chatter that a smart contract creation feature originally proposed by Buterin himself would put the security of Ethereum’s blockchain at risk. Other core developers also vouched their support for Buterin and denounced the feature would outright hamper ETH functionality.Create2 the improvement proposal at the heart of the commotion is supposed to allow for user interactions with contracts that don’t currently exist on the blockchain but may be pertinent to future development. The specifics of the proposal contained under EIP-1014 states that Create2 will allow for “addresses that do not exist yet on-chain but can be relied on to possibly eventually contain code.”Buterin had the support of other developers during yesterday’s conference call but the original concerns over Create2 were voiced by ETH developers who claimed that the proposal had the potential for a serious attack vector on Ethereum’s blockchain. As laid out in these concerns manipulating yet to be created smart contracts could allow users to code changes of address following their deployment leading some to question the implication of Trojan horse deals being formed on Ethereum’s network.Developer Jeff Coleman in particular voiced concerns over the ability for address commitments to be manipulated according to the new proposal“One of the things that is counter-intuitive about Create2 is that theoretically redeployments can change the contract byte code because the address is only a commitment to the init code. People need to be aware that init codes are part of auditing […] that non-deterministic init codes are a problem.”Coleman went on to give his reasoning for how the issue could be rectified to prevent change of addresses or self-destruct following the initial establishment of the contract’s code“When we look forward to where we want to end up […] it would be to have all addresses […] contracted via the init code. We need content-based addressing of contracts and not just order-based addressing which is what Create1 is. So if we get to the place where Create2 is standard get rid of self destruct entirely […] we could throw out this idea of a contract nonce.”Buterin for what it’s worth supported his original position on Create2 as forward thinking even if it creates a few bumps in the road to be smoothed out in the interim. Speaking on the growth of Ethereum smart contracts in the long term Buterin told call audiences“The one thing we need to keep in mind is more for the future when thinking about rents and deletion; that’s a way that can lead to contracts being in a state to being not in a state without a self-destruct operation […]. It’s not something we need to figure out in the next few weeks but it’s still useful to keep in mind when getting the ETH 2.0 sharding to a VM spec very soon.”With the Constantinople hard fork looking to shake up Ethereum and the broader landscape of cryptocurrency the second largest coin by market capitalization could further its market dominance as the smart contract platform of choice. Bitcoin has managed to secure a dominant lead at the head of the industry but Ethereum with the support of ERC-20 backed ICOs and smart contract oriented developers has managed to carve out a sizable market share. https://www.geezgo.com/sps/54119 Join Geezgo for free. Use Geezgo's end-to-end encrypted Chat with your Closenets (friends relatives colleague etc) in personalized ways.>>
Known for having to be anti-Cryptocurrency Nouriel Roubini Tweets about JP Morgan’s Coin which says otherwise about his views on Cryptocurrency and Blockchain. JP Morgan is a major American bank and financial institution. They recently introduced their JPM Coin their own Cryptocurrency that they claim is for payment transactions between their clients. In the US...
Bitwage a FinTech that enables professionals to be paid in bitcoin and other currency from their employers is rolling out a new service for freelancers to more seamlessly be paid regardless of which freelance platform they use. Reports in Bitcoin Magazine last week said Bitwage is rolling out its new solution in beta allowing freelancers […]
In the first edition of The Daily this weekend we focus on a study estimating that 13 percent of people have used digital coins for payments. We also look at the latest financial report from Nvidia indicating losses due to falling demand for chips used in cryptocurrency mining. Lastly a broker suspends its crypto CFD …
Every crypto investor’s worst nightmare came true for one Brazilian trader who accidentally bought bitcoin at a massive premium. At one point he bought 0.0047 BTC for 340 Brazilian reals worth about $91. At press time said amount of bitcoin is worth less than $15 on other exchanges meaning at the
JPMorgan Chase is rolling out the first cryptocurrency that is backed by a U.S. financial institution according to a new report by CNBC. CNBC’s Hugh Son reports that JPM Coin will be a digital token used to settle transactions between clients of the bank’s wholesale payments business. The bank hasn’t officially rolled out the coin for use just yet. The report notes that the bank will begin to trial the coin's use in the next few months and will only be used for a “tiny . . .
Users of embattled cryptocurrency exchange QuadrigaCX are claiming the wife of late CEO and founder Gerald Cotten sent them deposits directly contradicting information currently before the courts. According to statements from his family Cotten
In a note to users today Coinbase announced that it has finally made Bitcoin SV balances available for withdrawal. Users have been complaining for months about their Bitcoin SV which peaked shortly after launch at over $200. It has since then been in steady decline and the announcement by both Coinbase
The U.S. bank is introducing a cryptocurrency to help clients transfer money to each other instantaneously. Boss Jamie Dimon once called bitcoin a fraud so even a baby step into the related technology is notable. But so far it looks like an overwrought fix for a simple problem.