Connect with us
CLOSE

Ethereum News

$100,000 Reportedly Returned From Ethereum Classic 51% Attacker

Published

on

Ethereum

The Etherecum Classic 51% attacker has allegedly returned the stolen $100,000 to the Gate.io cryptocurrency exchange according to the official blog post of the exchange and now we are reading more about this information in our ethereum news.

Gate.io noted in the official blog post that they tried to contact the attacker but didn’t get any response until now and claim to now know the real reason why the funds have been returned. The company stated:

 “If the attacker didn’t run it for profit, he might be a white hacker who wanted to remind people the risks in blockchain consensus and hashing power security.”

A white hat hacker is someone who has a strong knowledge and hacking abilities that are used for good and not for personal gain. It is seen as ‘’friendly security specialist.’’

On January 9, the exchange published their analysis of the attack saying that about 54,000 ETC in total were transferred when the attack occurred. Other crypto exchanges such as Coinbase stated that the total sum of money that is involved in the deep chain reorganization is about $1.1 million worth of crypto.

Gate.io pointed out that the hashrate of the Ethereum Classic network is quite low but it is still possible to rent computing power for another 51 percent attack.

A deep chain reorganization in the ethereum classic blockchain was identified by Coinbase on January 5th and that’s when the company took stocks of a few double spends on the network.

Also the founder of Litecoin Charlie Lee, also declared that decentralized cryptocurrencies need to be susceptible to 51 percent attacks.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Continue Reading
Comments

Ethereum News

Ethereum’s Metamask Browser Hits One Million Users

Published

on

By

Ethereum's metamask
Ethereum’s Metamask browser has just surpassed one million users on its Google Chrome extension and the milestone came right when the ETH prices hit a seven month high so let’s read more about what is ethereum going to do with it all in the ETH news today. The new milestone arrived with an increase in Ethereum transactions which have doubled from 400K to 800K in just a month according to the analysis by Trustnodes. The report shows that Gas had surged to the highest level since September 2019 while the transaction fees are still low. The network fundamentals are also improving and the hash rate is climbing again to a two-month high of 175 TH/s so the surge in network activity has been catalyzed by an increase in momentum on the markets as the ETH price goes towards the $300 price level. A week ago, the world’s second-largest crypto asset by market cap also made an additional 28% and the market cap is now back to the position of $30 billion and the Bitcoin dominance is dropping as a result. All of this increases the usage of the browser-based blockchain tools such as Ethereum’s metamask which lets the users run dapps within the browser without having to run a full Ethereum node. The increase in the DeFi markets is also quite bullish for Ethereum because it is a standard monetary unit in this part of the financial landscape. Metamask can be used to get closer to the DeFi platforms such as Compound or Oasis and can easily transfer and set up smart contracts for earning interest rates in just a few minutes. The goal is to simplify the usage of Ethereum and to bring it to the wider public by integrating the blockchain into the browser. There are also other extensions for Firefox, Opera and the Brave browser. The Metamask team now works on developing Snaps which will allow developers to build plugins that can extend the functionality of Metamask. Vitalik Buterin and Joseph Lubin, the co-founder of Consensys, along with Eric Voorhees the Shapeshift founder will attend a blockchain even this weekend. Also as per the recent ethereum news, the energy giant BP will be adding its name to the sponsors' list for the event that shows that the interest for Ethereum is growing.
`
Continue Reading

Ethereum News

Maker Crypto Lending Part Of The Industry’s Most Profitable Sector

Published

on

By

maker crypto lending
Decentralized finance (known as DeFi) has taken the Ethereum world by storm. The ETH news this year and studies from firms like Messari have highlighted the success of the technology many times before. What is important to note now is the fact that crypto asset lending is poised for explosive growth. The Maker crypto lending is now part of this most profitable sector, sharing it with firms such as Nexo, Ripio Credit Network, Aave and Cred. The hype and attention that is surrounding Decentralized Finance (DeFi) now and the growth of several major lending platforms (as mentioned above) has shined a lot more light on one of the crypto industry's best kept secrets. There are really tons of reasons why DeFi is succeeding. But if we have to name one, it would be the record low interest rates for savers in traditional banks and financial institutions which were certainly why the Maker crypto lending and other similar platforms have shined. https://twitter.com/longhashdata/status/1222221290603499521 As data shows, the last 90 days saw all of these platforms having an average rate of return of up to 15%. However the real benefit is seen when we evaluate data from last year - we can see that the Maker crypto lending and its competitors have been averaging a return of 75%. Only Bitcoin has had a higher yearly return than this and there were 349 tokens studied with the same list of criteria, showing that DeFi lending is definitely an industry that is booming. The success by the Maker crypto lending platform (backed by Maker DAO) and the other options allowed the market to shine and offer many opportunities for growth. Websites like DeFi Pulse are continuously investigating and monitoring the success of the lending options. Currently, the Maker crypto lending and Compound lead the rankings. At this point, analysts and experts can agree that DeFi is not perfect yet. However, over time, the blockchain news might show updates and attempts to make it easier, mainly with non-over collateralized loans and better debt-collection techniques. As a final note, we should also point out that Ethereum is not the only blockchain which is pursuing DeFi alternatives to traditional finance models. We have also seen projects like BTCPay server, the Lighting Network and Bisq DAO which are also happening on Bitcoin and are rivalling smart contract platforms like Tron and EOS - which are also in the pursue of DeFi.  
`
Continue Reading

Ethereum News

TRON Grows On Gambling Dapps And Ethereum On Gaming

Published

on

By

TRON Grows
TRON grows within its decentralized app ecosystem and the things are looking quite good for Ethereum and TRON while EOS doesn’t seem to have the same luck as we are reading more in the tron news today. DappRadar, the Lithuanian dapp data aggregator and analysis firm explained:
"While [Ethereum and Tron] are increasing in 2020 January in comparison to 2019 January, EOS is facing a decrease in daily active users by 61%.’’
According to their reports that we now have in our tron news, the firm looked into these blockchains, outlining that the performances of these blockchains can give a clue on the dapp ecosystem's direction and what can be expected this year. While Ethereum did see its bigger growth, TRON grows in its daily active user category. The Justin Sun network was stuck with gambling and high risks dapps and is failing to expand outside this field while EOS is getting dragged down by the network congestion because of the launch of the EIDOS token which was ‘’ a mischevious experiment gone wrong, at worst an aggressive DDOS attack.’’ The daily active unique wallets for TRON increased by more than 33 percent compared to last year and the user base increased by 8 percent only in January, reaching more than 20,000 users. However, the steady increase in active wallets is seen in only one category. TRON has more than 2,600 daily active unique wallets which were followed by RocketGame and WINk. The numbers were dropping in some other categories such as the Games and Marketplaces but also Exchanges:
"Tron as a maturing dapp ecosystem is still failing to expand outside of gambling and high-risk dapps.’’
The daily active unique wallets increased by 82 percent between 2019 and 2020 and the number was going from 9,264 to a 30-day trailing average of about 17,000 users on Ethereum. The number of users in the games and marketplaces category, increased by 162 percent since the start of 2019 while My Crypto Heroes is the most popular game. There are other new games that benefit from the large community such as Brave Frontier Heroes. Speaking about the DeFi (decentralized finance) the Tron news reports show that the average daily active unique wallets, increased by 7 percent mainly in the second half of the month, reaching a few 1,400 users. The Exchanges category increased by more than 10 percent in January.
`
Continue Reading

Ethereum News

JPMorgan To Merge With Ethereum’s ConsenSys Platform

Published

on

By

jpmorgan to merge
Banking giant JPMorgan to merge its Quorum Blockchain project with Ethereum’s ConsenSys platform as we are reading further in the ethereum news today. According to the latest reports that we have here on DC Forecasts, the terms of the deal are still under discussion and are not still set so the merger could happen within the next six months. Quorum was first introduced in 2016 and created a wave of excitement for the users since it was officially connected as a bank to Ethereum and even if it was a private version of the tech, it got a lot of support. The firm suggested at the time that open source projects were a step towards creating a system that could connect the private institutions via the distributed networks. Since then, Quorum had its privacy features from Ethereum added and there as a huge revamp based on the Java programming language in a bid to try and make it easier for businesses to use and deploy projects. The platform was also used as the basis for JPMorgan’s interbank information network which was now listing more than 365 banks on board. The platform is aimed at allowing the member banks to exchange more information in real-time which will also allow them to verify payments that have been approved. JPMorgan to merge with Ethereum will mean a whole lot for the crypto platform, especially since the bank suggested Quorum could be spun off and it was uncertain if that could be the case at the time. Reuters reports added that the Quorum unit employs more than 25 people around the globe and it’s not yet clear if they will become a part of the ConsenSys team after the merge. JPMorgan has not commented yet. As previously reported, ConsenSys, the New York-based blockchain company officially released a new dApp and blockchain developer job kit which will help the ETH developers enter the market. ConsenSys noted previously on LinkedIn’s 2018 US Emerging Jobs Report that the blockchain developer rates have reached the professional network’s list as the highest-growth positions last year. The Kit includes a knowledge glossary, covering topics such as consensus algorithms, miners, security, smart contracts, token standards, and scalability issues.
`
Continue Reading

Newsletter

For Updates & Exclusive Offers
enter your email below





NEWS CATEGORIES

ADVERTISEMENT

cryptocurrency review
FO5F93F47156 - $100,000 Reportedly Returned From Ethereum Classic 51% Attacker

ADVERTISEMENT

Medium Rectangle 300 200 2 Animated - $100,000 Reportedly Returned From Ethereum Classic 51% Attacker

ADVERTISEMENT

oasistrade banner

ADVERTISEMENT

300 250 - $100,000 Reportedly Returned From Ethereum Classic 51% Attacker
FO710FC3F2305 1 - $100,000 Reportedly Returned From Ethereum Classic 51% Attacker

ADVERTISEMENT

300 600 3 - $100,000 Reportedly Returned From Ethereum Classic 51% Attacker

Trending Worldwide