Category: Ethereum ETH

    Ethereum 2.0 Pre-Release Published on GitHub

    ETH 2.0 Mainnet Files Are Here 👀

    Ethereum Development Team Unveils First Pre-Release of Ethereum Testnet 2.0.

    January 31st on GitHub was published version 0.1 of the zero phase of the future version of the platform. According to the developers, it is «relatively complete and fairly stable». They also pointed out that subsequent changes will happen in the dev branch and will be merged with master only at release time.

    The Ethereum 2.0 network assumes the implementation of the final stage of the existing project roadmap. Serenity provides for the transition of cryptocurrency to the proof-of-stake (PoS) algorithm, as well as solving fundamental problems: scalability, complex economy and security. Vitalik Buterin in his comments to the release noted that this is the basis for the hybrid model Casper.

    Ethereum 2.0 Pre-Release Published on GitHub

    Testnet is called Gorli and will be used to test Sharding – solutions of the second level, providing for the creation of a set «shards» for separate processing of transactions and transferring only totals to the main blockchain. This will significantly increase the network bandwidth and scalability of Ethereum..

    However, prior to the implementation of Serenity, team the current third phase of the Metropolis platform is to be completed. This will happen immediately after the Constantinople hard fork, which was postponed at the last moment due to the discovered vulnerability of one of the innovations. Its activation is now assigned to block 7 280 00, which should be created on February 27, 2019.

    text: Ivan Malichenko, photo: Getty Images

    Ethereum 2.0 Pre-Release Published on GitHub
    Ethereum 2.0 Pre-Release Published on GitHub

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    Ethereum Upgrade Will Reduce Miner Rewards By 33%

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    This New Ethereum Upgrade Will Set ETH to CRUSH Bitcoin

    Ethereum is testing a network upgrade that includes code optimizations, improved scaling, pricing, data handling, and reduced miner rewards to 2 ETH.

    On August 31, the development of the new Constantinople system-wide update package was completed, which is actually a hard fork. It consists of five Ethereum Improvement Proposals (EIP). Most of them are aimed at improving the quality of the platform and helping developers of smart contracts and applications, but for ordinary users they will be almost imperceptible.

    However, the most controversial EIP 1234 will have a huge impact on the economic component of the ecosystem. This proposal provides for a decrease in the reward for miners for closing a block from 3 to 2 ETH. In addition to reducing the profitability of mining by 33%, it is planned to gradually increase the complexity of mining, which is planned to be extended for a year..

    These steps are taken in order to prepare the platform for the transition to a consensus algorithm (PoS). The miners' community reacted extremely negatively to this decision of the developers, but investors and experts believe that the update will increase the rate of ether and at the same time slow down the process of its depreciation due to unlimited emission.

    Ethereum Upgrade Will Reduce Miner Rewards By 33%

    The preliminary release date is called October 8, but the testing and revision process may be delayed. Therefore, the hard fork can be postponed to November or even further. Those who do not support the update will continue to work in the old blockchain of the project..

    Bitcoin optimizers also recently introduced a unique submarine swaps technology that allows direct transactions of various cryptocurrencies through the Lightning Network.

    text: Ivan Malichenko, photo: Branko Stancevic / Unsplash

    Ethereum Upgrade Will Reduce Miner Rewards By 33%
    Ethereum Upgrade Will Reduce Miner Rewards By 33%

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    Ethereum hard fork postponed due to discovered vulnerability

    New Ethereum Critical Bug? Programmer explains.

    Ethereum developers reported delay Constantinople hard fork due to a discovered reentrancy vulnerability in the security system, potentially allowing a reentrancy attack using smart contracts.

    The presence of a critical error in the code of a planned change (EIP 1283), which reduces transaction costs for some operations, was reported by the audit company Chain Security. The loophole potentially allowed an attacker to steal cryptocurrency from smart contracts on the network by repeatedly requesting funds and transmitting false data about the fraudster’s actual ETH balance. Therefore, the developers decided to postpone the implementation of the system-wide update and hold a meeting on Friday to discuss further actions and agree on a new date..

    Moving to Constantinople was supposed to take place on January 16 at block 7 080 000, so some clients on the network have already been updated. In order to avoid an inconsistent hard fork, emergency fixes have been released to postpone the changes. Users can also simply downgrade the client, but the developers do not recommend doing this, so as not to create a mess. Those who do not start the node or otherwise do not participate in the network do not need to do anything.

    The project team has already contacted exchanges, mining pools, cryptocurrency wallets and other groups collaborating with the Ethereum network..

    Ethereum hard fork postponed due to discovered vulnerability

    Lane Rettig, a member of the Ethereum core, considers Constantinople to be the most intense and controversial of all hard forks in the entire history of the project, and some developers have even suggested calling the changes a less controversial term. «renewal». The crypto community advised the team to test the code ahead of time, rather than on the eve of launch, as EIP 1283 was available for research for a year..

    Due to the increased activity of hackers, companies began to spend more money and time on improving security systems, as well as more often integrating the blockchain. According to Gemalto research In 2018, the use of this technology to protect the IoT doubled.

    text: Ivan Malichenko, photo: mrcoinpedia, unsplash

    Ethereum hard fork postponed due to discovered vulnerability

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    El Petro Steps Out Of The Shadows: Maduro Announces Full-Scale Cryptocurrency Launch

    Venezuela launches Ethereum-based cryptocurrency called Petro

    Venezuelan President Nicolas Maduro announced that the Petro cryptocurrency created by him and his team will soon be introduced into circulation as a unit of account within the country..

    Maduro announced his decision on television. The state oil company PDVSA will be the first to test the possibilities of the oil-backed cryptocurrency (it will use Petro as the unit of calculation). In addition, the government is determined to introduce a new payroll system, as well as the pricing of goods and services linked to Petro..

    Excerpt from the President’s Address: «As early as next Monday, Venezuela will be able to start using Petro. The coin will be released into circulation within the country and will begin its journey as a compulsory unit of calculation for our oil industry, represented by PDVSA».

    According to Maduro, the introduction of a new wage and pricing system based on a coin tied to the country’s oil reserves will create conditions for a significant improvement in labor incomes..

    Starting August 20, Venezuela will use two national currencies — Petro and Sovereign Bolivar, the latter of which will be indexed to the former. The sovereign bolivar will take five zeros from the current national currency. The Central Bank (CBK) will begin publishing official data on the value of the sovereign bolivar in accordance with Petro and the value of Petro in accordance with international currencies. Maduro also said that private banks in the country have already received new banknotes..

    As a reminder, the Venezuelan government launched the Petro pre-sale in February 2018. The country has initiated work on its own cryptocurrency in an attempt to attract foreign investors and at the same time bypass US and EU sanctions. The new cryptocurrency should also solve the problem of overcoming catastrophic hyperinflation.  Inflation is projected to reach 1,000,000% in 2018 alone.

    El Petro Steps Out Of The Shadows: Maduro Announces Full-Scale Cryptocurrency Launch

    Based White paper, the cryptocurrency is fully compliant with Venezuelan law, although the opposition in the National Assembly has publicly stated that the issue of Petro was illegal.

    It should be noted that the document lacks details of the technical implementation of the project. Also, the hype around the sale process itself still does not subside. — Maduro several times «caught» on the inconsistency of data on the funds raised.

    Earlier, we took a closer look at El Petro and the possibilities of cryptocurrency..

    text: Evgeniya Likhodey, photo: commons.wikimedia

    El Petro Steps Out Of The Shadows: Maduro Announces Full-Scale Cryptocurrency Launch

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    Buterin sounded the alarm over excessively high inflation of DeFi tokens

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    5 undervalued DeFi coins to turn $1k into $100k! (deep analysis)

    Ethereum Co-Founder Vitalik Buterin Compares Majority Economy DeFi protocols with a money machine that continuously prints new tokens for liquidity providers.

    He believes that the aggressive digital asset allocation strategy of many projects (Yield farming) to ensure annual returns of 50-100% is irresponsible, since oversupply increases inflation and puts significant pressure on the price..

    Buterin also warns against the naive optimism of long-term investors. He points to the inability of many startups to generate cash flow without the availability of paid applications, which will ultimately lead to the inability to maintain the cost of the project and pay commissions..

    Expressing your pessimistic attitude towards such a strategy, he compared it with the monetary policy of central banks, which print money without stopping.

    Buterin sounded the alarm over excessively high inflation of DeFi tokens

    The rise in popularity of DeFi has also led to higher Ethereum network utilization and transaction fees, which boosted the profitability of miners..

    text: Ivan Malichenko, photo: magspace

    Buterin sounded the alarm over excessively high inflation of DeFi tokens

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    Categories: Ethereum ETH

    Bitstamp is considering listing Zcash

    Amid Widespread Privacy Coin Delistings, Bitstamp Considers Zcash Support

    Bitstamp, one of the oldest cryptocurrency exchanges, is exploring the prospect of adding Zcash to its list of trading instruments.

    Due to the update of the FATF financial principles, more and more crypto exchanges are abandoning support for digital assets with a high level of confidentiality. However, the Luxembourg-based trading platform announced that it is considering supporting the ZEC..

    Currently, the exchange is conducting a comprehensive examination of seven projects at once: Stellar, Ethereum Classic, Zcash, 0x, Basic Attention Token, Paxos Standard and USD Coin.

    Bitstamp is considering listing Zcash

    This is the first revision of Bitstamp’s listing of trading instruments in three years, and the addition of any new assets will require meeting strict selection criteria as well as regulatory approval in certain jurisdictions. Therefore, the exchange does not guarantee the listing of new coins, but strives for this..

    In addition to tightening guidelines, the FATF intends to launch a global monitoring system cryptocurrency transactions.

    text: Ivan Malichenko, photo: Shutterstock

    Bitstamp is considering listing Zcash

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    Engineers have discovered a way to control nanomotors

    Controlling nanomotors with light

    Engineers at the University of Texas Austin have found a way to change the mechanical motion of nanomotors with multiple modes using light.

    By varying the intensity and frequency of light radiation, the researchers were able to change the behavior of nanodevices. The principle of operation of the simplest tiny electric motors looks like a fan, but they function like transistors, responding to external influences. Tests were carried out with various metals and semiconductors, observing their mechanical movement when the nanomotors were irradiated in an aqueous solution..

    Engineers have discovered a way to control nanomotors

    Scientists have found that depending on the intensity of the incoming light (from the level of the projector to the laser), the silicon device can be set in motion, stopped, or made to rotate in the opposite direction. This effect was observed for the first time. Thanks to the ability to convert energy into motion, nanomotors can be used to create controlled nanoelectromechanical devices and robotics for drug delivery, optical recognition, communication, interaction with molecules, separation of individual nanoparticles and other purposes..

    Australian researchers have also discovered amazing properties of the simplest nanostructures. They have created a nanofilter that is capable of removing heavy metals and oily substances from water 100 times faster than any other existing technology..

    text: Sid Nietzsche, photo and video: University of Texas at Austin

    Engineers have discovered a way to control nanomotors

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    DeFi bZx project underwent second attack in a week

    Ethereum DeFi Hack – bZx Exploit Clearly Explained

    The bZx decentralized finance (DeFi) lending protocol has been hacked twice in less than a week. The total losses from the two attacks amounted to about $ 954 thousand.

    As a result of the second attack, the project lost 2388 ETH, or almost 650 thousand at the current exchange rate. According to bZx founder Kayal Kistner, the attacker’s actions look like manipulation of the oracle.

    Although the fraud using flash credits and trading on crypto-exchanges does not affect the system, due to the recurrence of the incident, the team had to suspend the protocol to neutralize such activity..

    According to technical experts, the attacker took out a loan of 7,500 ETH (almost $ 2 million), half of which he spent on the purchase of synthetic stablecoins sUSD, in order to use them as collateral for obtaining a loan. Then he used about 12% more ether to raise the sUSD rate on the Kyber Network trading platform from $ 1 to $ 2.

    For the collateral that had increased in value, he took out a second loan for 6796 ETH, at the expense of which he not only repaid the first, but also kept 2378 ETH for himself..

    DeFi bZx project underwent second attack in a week

    Developers plan to prevent further loss of funds by switching to Chainlink platform oracles.

    One of the main problems startups in the crypto industry is of high interest from hackers. In December, the Fund VeChain reported a buyback wallet hacked and tokens stolen for $ 6.6 million.

    text: Ivan Malichenko, photo: jacksonllp

    DeFi bZx project underwent second attack in a week

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    Microsoft has discovered new malware for hidden mining

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    How to Find and Remove a Hidden Miner Virus on Your PC 🐛🛡️🖥️

    The Microsoft Defender ATP research group announced a new type of malware for covert mining of cryptocurrencies that has already infected 80 thousand computers.

    The company’s analysts discovered a program called Dexphot, which launched in October 2018. After infecting a PC, its code takes control of system processes in order to hide its presence and start secretly mining. To extract cryptocurrency, it uses the computing power of an infected device..

    User attempts to remove malware cause System Monitor and Task Scheduler to activate the Reinfection Protocol.

    According to researchers, Dexphot not designed to attract attention and is one of the many malignant programs that are constantly active.

    Microsoft has discovered new malware for hidden mining

    Typically, such software uses some of the power of the CPU to mine the cryptocurrency for the creator. Although the income from one PC is small, but due to the scale, the total amount can reach thousands of dollars per month. Such projects are gaining popularity because they run in the background and provide hackers with a steady stream of funds..

    Previously company analysts Varonis discovered another virus for secret mining, named by Norman, which also hides its presence when opening the task manager.

    text: Ivan Malichenko, photo: Microsoft

    Microsoft has discovered new malware for hidden mining
    Microsoft has discovered new malware for hidden mining

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    Expert: the reason for the decline in cryptocurrency rates is the ban on advertising in Bing

    Bitcoin: Expert Interviews On Cryptocurrency Topics | Cryptos | Crypto Currency News | Crypto News

    The negative news background of the last week continues to pull the cryptomarket behind it. Of the highlights that don’t allow «bulls» get the upper hand, we can highlight the negative statements of Warren Buffett about bitcoin, which was joined by Bill Gates. The capital movements of the notorious Nobuaki Kobayashi (Mt.Gox) hang like a shadow over the market.

    Despite the continued decline, there is still hope. According to past years, the Consensus conference is a powerful impetus for market growth. In 2018, a record number of specialists from all over the world take part in it, which simply obliges «bulls» come out of the shadows.

    — Many crypto investors and ICO market participants were surprised by the sudden drop in the rate of cryptocurrencies and market capitalization. The reason there was news about the ban of advertising by the Bing search engine from Microsoft.

    According to the company, the virtual asset market is unregulated and therefore can be dangerous for consumers..

    In mid-March, we witnessed a situation when, when the news about Google’s ban on advertising of cryptocurrencies and ICOs appeared, market capitalization significantly decreased and the cost of cryptocurrency assets decreased..

    Expert: the reason for the decline in cryptocurrency rates is the ban on advertising in Bing

    Despite the fact that the news of the Consensus 2018 conference itself could not maintain market stability, I agree with the experts in the field of financial analytics that the conference will have a positive impact, and in the near future we will see a recovery in the cryptocurrency market, — told BitCryptoNews Artem Romanyuk, head of the business development department ICO Brothers.

    At the moment, the price of bitcoin (BTC) is hovering at $ 8.4 thousand. A break of the $ 7.9 thousand level may be a signal for another sale. The only hope — to the sensational news Consensus. Follow our news and analytics in order not to miss a signal to enter the market.

    Earlier we wrote about a discussion about which is better: ASIC or GPU, as part of Consensus 2018.

    text: Evgeniya Likhodey, photo: Shutterstock 

    Expert: the reason for the decline in cryptocurrency rates is the ban on advertising in Bing
    Expert: the reason for the decline in cryptocurrency rates is the ban on advertising in Bing

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    New diapers can notify parents when a baby has wet them

    Can you tell if someone is wearing a diaper?

    Researchers have developed a smart diaper with a built-in moisture sensor that can send notifications to a smartphone or computer when it gets wet.

    While some babies react violently to a wet diaper, others do not pay attention to it for a long time. However, prolonged wearing of a wet load can lead to painful rashes and inflammation. Now researchers at the Massachusetts Institute of Technology have proposed an innovative solution to this problem..

    The team has equipped the diaper with a sensor that reacts to increased humidity, and a passive radio frequency identification (RFID) tag located under a layer of absorbent polymer. When the diaper gets wet, the material between them swells and becomes a weak conductor, which is enough to send a radio signal to a reader within a radius of 1 meter, which in turn can send a notification to a smartphone or computer.

    New diapers can notify parents when a baby has wet them

    According to the developers, the cost of the sensor is less than two cents, and its range can be increased due to the amount of copper in the device. This diaper is versatile and can be used not only for babies, but also for the elderly or bedridden patients..

    Recently researchers have also developed an application that detects signs of eye disease from a photo before doctors.

    text: Ilya Bauer, photo: MIT, bi.im-g

    New diapers can notify parents when a baby has wet them

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    Monero plans to switch to new PoW algorithm that will make GPU mining ineffective

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    How to mine Monero (XMR) on Windows using your GPU and CPU concurrently!

    Arweave announced that it has signed a contract to audit a new proof-of-work algorithm Monero, which the anonymous cryptocurrency plans to switch to in October 2019..

    The protocol was named RandomX, and in case of successful verification, it will replace the current CryptoNight. Arweave says the new algorithm will require less developer intervention to further counter ASIC devices, and also make GPU mining uncompetitive.

    In the description of RandomX on GitHub said, that the protocol will require miners to allocate 2080 MB of RAM for the process. This can make it easier to identify stealthy mining attempts by malware that XMR typically mines for a hacker..

    Until now, Monero developers have made minor changes to the algorithm every six months and hard forked the blockchain to provide protection against specialized devices. However, the community began to criticize the project team for such practices, arguing that frequent forking increases the level of centralization. This prompted the developers to write an alternative..

    Monero plans to switch to new PoW algorithm that will make GPU mining ineffective

    RandomX audit over the next two months will cost Monero $ 150 thousand.

    The innovation will also help fight botnets that are increasingly used for cryptojacking.

    text: Ivan Malichenko, photo: Shutterstock

    Monero plans to switch to new PoW algorithm that will make GPU mining ineffective

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    Bitcoin Cash To Add Transaction Mixing Protocol Soon

    Instant Transactions on Bitcoin Cash | 0-Conf & RBF Simply Explained

    The developers announced the successful completion of alpha testing of the new Cash Shuffle mixing protocol, which will allow Bitcoin Cash users to send confidential transactions.

    Cash Shuffle invites users to make anonymous payments. To do this, a mixing function is available in a special tab, which within 60 seconds «shuffles» transactions, interfering with the traceability of the sender. Work on the creation of a new protocol began in December 2017. Then in March of this year, Coingeek announced that it would fund the project, and in addition, several experienced programmers joined it, which greatly accelerated the process..

    Bitcoin Cash developers have announced the completion of preliminary tests. The Reddit post said the tests were successful, but there are a few more things to fix before launching. The team also thanked the assistants and invites everyone to take part in the tests. To do this, you will need to follow the instructions, install an experimental plugin and start at least 0.0011 BCH.

    Bitcoin Cash To Add Transaction Mixing Protocol Soon

    As a reminder, Opera will add Crypto Wallet feature. 

    text: Ivan Malichenko, photo: De Telegraaf

    Bitcoin Cash To Add Transaction Mixing Protocol Soon

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    International startup AERUM raised $ 1 million from Russian investors to develop a blockchain protocol for decentralized financial applications

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    The international blockchain startup AERUM, which has created a platform for decentralized blockchain applications, has raised $ 1 million from private investors Sergey Paramonov and Rostislav Kishenkov. The founder of the project, Alexander Randarevich, also took part in the round..

    The money is used to create a consortium of developers to launch of the AERUM protocol. The project brought together specialists from the USA, Ireland, Asia, Central and Eastern Europe.

    AERUM is the next generation of financial blockchains. The consumers of the AERUM product will be decentralized communities and organizations relying on P2P payments, programmable economies, micropayments and social loans. The startup provides a complete and ready-to-use infrastructure for building and using decentralized applications (dApps) for B2B and B2C. The project uses cross-network decentralized Atomic Swaps for a barrier-free exchange of assets with other blockchains through the AERUM wallet. Users can make transactions within one network or seamlessly with other networks.

    AERUM carries out transactions at a speed that is 30-50 times higher than that of Ethereum. The platform provides 2-second block time and 5-second real-time transaction execution. AERUM allows further scalability by creating additional networks using the same decentralized consensus mechanism that allows throughput of 100,000 transactions per second or more.

    One of the first partners of AERUM was the CINDX project – it is a trading platform or hub where you can find a highly rated trader whose effectiveness has been confirmed on the blockchain. Traders get a client base to increase income, as well as a marketplace to sell investment products. In terms of the marketplace, the AERUM protocol allows CINDX participants to conduct transactions with zero commission in 5 seconds.

    In early October, an agreement was signed with the Veracity project. Both teams are testing the integration of the AERUM protocol with Veracity. Veracity's decentralized protocol verifies and protects physical assets throughout their entire lifecycle. The project protects against counterfeiting and fraud in a variety of industries and provides accurate and consistent information at every stage of the product lifecycle. The project is a leader in the market for protecting art objects from counterfeiting using the blockchain.

    International startup AERUM raised $ 1 million from Russian investors to develop a blockchain protocol for decentralized financial applications

    Sergey Paramonov, investor of AERUM: «More than 40 thousand transactions are made on Etherium every day. However, Ether's problem is that transactions are very slow and require high fees. The AERUM project attracted me by the fact that its protocol allows you to reduce the transaction time to 5 seconds and make transactions free, in addition, the startup operates in a huge market, because more than 250 thousand developers around the world are engaged in projects on Etherium, who develop more than 1000 decentralized applications.».

    Project CEO Alexander Randarevich has been working in FinTech since 2000 as a developer, product manager, architect, and then strategist. Specifically, he served as CTO for international finance startup Rahaxi for 7 years. In his luggage, Randarevich has experience working on projects in cooperation with SEB, Wirecard, Natixis and other major banks.

    The project is currently campaigning for further funding as part of the private placement phase and is preparing to launch public crowdfunding in White paper mode..

    text: Ivan Malichenko, photo: Aerum official page Facebook.com

    International startup AERUM raised $ 1 million from Russian investors to develop a blockchain protocol for decentralized financial applications
    International startup AERUM raised $ 1 million from Russian investors to develop a blockchain protocol for decentralized financial applications

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