One of the largest crypto trading platform BitMEX and its research branch has revealed in their official blog post about a potential Etheruem Parity full node bug and we are about to find out more in our latest Ethereum news today.
Published today, on March 13, the research branch of the exchange discovered the bug while analyzing data from Nodestats.org which is the first new website that is designed to collect the key metrics on the Ethereum nodes. In the same blog post recently published, the exchange pointed out that there will be a launch of Nodestats today which was created in collaboration with TokenAnalyst.
Nodestats provides key data for Ethereum Party and Ethereum Geth clients which reportedly are the two largest ETH nodes client implementations. The research branch’s team started gathering data and information from the Ethereum parity node on March 1 and that until March 12, the node was still not synced with the Ethereum blockchain. The client was about 450,000 blocks behind according to the block post, saying that ‘’based on its current trajectory, it should catch up with the main chain tip in a few days.’’
The researchers explain:
“While the slow initial sync is a potential problem, at least for this system setup, Ethereum has not yet reached a point where the node cannot catch up, as the sync is faster than the rate of blockchain growth.”
The BitMEX blog post authors further explain:
“One could argue the impact of this potential bug could be severe […] if exploited by an attacker in the right way. For example a user could accept an incoming payment or smart contract execution as verified, while their node claims to be at the network chain tip. […] The attacker would need to double spend at a height the vulnerable node wrongly thought was the chain tip, which could have a lower proof of work requirement than the main chain tip. Although successful execution of this attack is highly unlikely and users are not likely to be using the highest seen block feature anyway.”
Nodestats is connected to five etehreum nodes that collect data every five seconds. According to the blog post, the main goal is to have decent metrics related to the computational resources each eth node asks for.
Ethereum Network Development: The $30 Million Investment In Detail
"Over the last 12 months the Ethereum community — a global collection of developers, entrepreneurs, researchers, and passionate users — has made tremendous progress. Every week, new applications built on Ethereum launch to mainnet, scalability solutions come online, and ETH 2.0 moves closer to key milestones. Ethereum remains the de-facto platform for decentralized applications, and is used every day to secure billions of dollars in digital assets," the post noted.Speaking of, Plasma is the project that was first proposed by Vitalik Buterin and Joseph Poon in 2017 - as a scaling solution for the network employing autonomous smart contracts. The project is in the latest cryptocurrency news again as part of the Ethereum network development. It is described as a solution that would enable “the blockchain to be able to represent a significant amount of decentralized financial applications worldwide,“ according to the white paper The $30 million budget reserved for the ETH network and its development was first announced by the Ethereum Foudation at the ConsenSys' Ethereal Summit on May 10. The executive director Aya Miyaguchi was in the coming altcoin news then for stating that the foundation intends to bring academic involvement to Ethereum - which will attract the top-tier researchers and developers (and grants) to the academic teams and organizations. As we previously reported on our crypto news site, the "rerelease" of the community website for Ethereum Foundation was announced at the end of April. The Ethereum network development sits on top of this update, which purports to be a repository filled with community-created Ethereum content including documentation and tutorials for using Ethereum tools.
Cryptopia Hackers Are Moving The Funds In At Least Four Wallets
“Despite the efforts of management to reduce cost and return the business to profitability, it was decided the appointment of liquidators was, in the best interests of customers, staff and other stakeholders. […] Given the complexities involved we expect the investigation to take months rather than weeks.”As the new analysis by CoinFirm notes, the hackers are moving the cash into separate wallets including the two CoinDesk which found that were directly connected to Huobi. “The Cryptopia hacker moved 30,790 ETH (~$7.67M) from the last red address to the yellow one which is a new address of the hacker as of May 20, 2019 at 01:43:57 AM +UTC. The yellow address still has got 29,770 ETH,” said CoinFirm’s Grant Blaisdell in a statement that went viral in the coming altcoin news. Two other addresses were also reported by many best cryptocurrency news sites - showing that they received a combined 1010 ETH while another 10 ETH landed in what appears to be a Huobi deposit address and a Huobi hot wallet. This means that the Cryptopia hackers are preparing to pull cash out through these exchanges. Even though there is no telling what is exactly happening to this Ether as it moves from one wallet to another, it is certain that the $16 million is not going to sit still for long.
Ethereum Price Analysis: ETH Is Weak But Could Start Upswing Soon
Ethereum Possession: 376 People Own 33% Of All ETH
“These preliminary findings are consistent with the literature on stock market prices and volatility,” the report on Ethereum possession concluded. “Academics have found that large anomalous fluctuations in traded volumes of particular stocks, notably the S&P 500, tend to impact volatility and not price levels.”
Join us on Facebook
- Bitcoin’s Price Goes To $8K Again, Bullish Indicators Are Returning
- Margin Trading Service Soon Available On Binance Crypto Exchange
- Robinhood Brings Zero-Fee Crypto Trading App To New York Investors
- Samsung Pay Gets Ready For Crypto Integration: Report
- GlobalCoin By Social Media Giant Facebook To Roll Out By 2020
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Bitcoin News3 days ago
Bitcoin Whitepaper Copyright Registration Filed By Craig Wright
Analysis1 day ago
Expected Bitcoin Drop Leads Major Crypto Assets To Drop By 7%
Bitcoin News3 days ago
Teen Bitcoin Millionaire: BTC Will Die If 4 Major Issues Are Not Solved
Altcoin News3 days ago
Tether Issuer Claims It Had Invested Its Reserves Into Bitcoin
Blockchain News3 days ago
YouTuber PewDiePie Helps Blockchain Platform Grow Its User Base By 67%
Regulation3 days ago
Central Bank Of Laos Warns Against Using Cryptocurrency
Bitcoin News4 days ago
Tom Lee Thinks That Bitcoin’s $8,000 Upswing Confirms End Of Crypto Winter
Altcoin News4 days ago
Matic Network Surges 76% In A Day, Slowly Becomes A Favorite