#Ethereum Ethereum hard fork vulnerability: Constantinople delayed yet again. Published 3 months ago on January 16, 2019 By Layla Harding Share Tweet Ethereum’s Constantinople hard fork after ChainSecurity, a smart contract auditing firm has found a major vulnerability in one of the objectives of the upgrade. ChainSecurity said yesterday that EIP 1283, which was one of the planned changes is vulnerable to attacks as it can provide hackers a loophole in the smart contract code to take over the user’s funds. As a result, the ethereum developers, the client developers as well as all other projects have agreed to delay the Constantinople hard fork for the time being till the issue is evaluated and resolved. The next date for the Constantinople hard fork shall be decided on 18th of January during the Ethereum dev call which would include people such as Vitalik Buterin, Nick Johnson, Hudson Jameson, Evan Van Ness, Afri Schoedon and others. The ethereum developers have decided to delay the Constantinople hard fork for now as according to them the issue might take longer to be resolved. The Constantinople hard fork was earlier planned to be executed on 17th January at around 04:00 UTC. Constantinople Vulnerability: According to Joanes Espanol, the CTO of Amberdata, the vulnerability found in the EIP 1283 is known as Reentrancy Attack. The following attack allows the hacker or attacker to reenter the identical function multiple times in the absence of the user knowing about the state of affairs. Under the Reentrancy attack, the hacker or the attack could withdraw the user’s funds forever. According to ChainSecurity, the storage operations on the ethereum network is currently costing 5000 gas which exceeds the 2300 gas which is sent while calling a contract using ‘send’ or ‘transfer’ function. After Constantinople is implemented dirty storage operations will start to cost 200 gas and the attacker contract can then use 2300 gas stipend to control the endangered contract’s variable. This is the second time that the Ethereum hard fork Constantinople is being delayed. Previously, it was scheduled to be launched last year but was delayed due to issues with the Ropsten testnet. Related Topics:Afri SchoedonBlockchainConstantinople dateConstantinople delayConstantinople forkConstantinople forkingConstantinople vulnerabilityethEthereumEthereum Constantinopleethereum dev callEthereum developersEthereum forkEthereum hard forkEthereum hardforkEvan Van NessForkhard forkHudson JamesonNick Johnsonvitalik buterin Up Next Cryptopia cryptocurrency exchange hacked: Millions Stolen Don't Miss Is Bitcoin Mining still Profitable? Continue Reading Advertisement You may like Forbes releases top 50 blockchain companies list Token Taxonomy Initiative: Enterprise Ethereum Alliance & Microsoft Donald Trump policies push Mexico to Bitcoin Delist Bitcoin SV movement continues: Kraken, Bitforex onboard John Mcafee publically challenges Calvin Ayre: Files $800M Lawsuit BTC to USD: Bitcoin Price Analysis, Bulls vs Bears 1 Comment 1 Comment Pingback: Ethereum hard fork vulnerability: Constantinople delayed yet again. - Satoshiuncle Leave a Reply Cancel reply Your e-mail address will not be published. Required fields are marked *Comment Name * Email * Website #Ethereum Token Taxonomy Initiative: Enterprise Ethereum Alliance & Microsoft Published 10 hours ago on April 19, 2019 By Ruchi Ramaswamy The Enterprise Ethereum alliance and Microsoft have brought together the major enterprise blockchain providers behind a new project aimed at helping businesses develop the proper crypto tokens for their particular needs. Token Taxonomy Initiative It is being called the Token Taxonomy Initiative and is being built as a technology-neutral initiative which will operate across different blockchains currently having Ethereum, Hyperledger, and Corda, the biggest enterprise blockchain solutions and this initiative already include large partners IBM, ING, JP Morgan, Intel, and Microsoft, all with the aim of creating token standards for business users across all network. The process for the development of enterprises which is basically going to be as simple as a drag and drop approach. This initiative is a big leap for particularly in terms of actually kicking open the doors for enterprises to enter the space and say that it is quite easy to use this technology. Continue Reading #Ethereum Analysis: Will Ethereum Rise in 2019? Published 4 weeks ago on March 23, 2019 By Ruchi Ramaswamy Bitcoin and Ethereum have been leading the cryptocurrency market for quite some time. While bitcoin blockchain’s main motive is to track the transactions, Ethereum’s main motive is to run the codes of DEX or decentralized apps. While most people feel that bitcoin will always lead the cryptocurrency market, some believe the cryptocurrencies such as Ethereum might overtake bitcoin in the future. Currently, a group of companies known as Enterprise Ethereum Alliance supports the Ethereum blockchain who are working hard to improve the overall functionality of the blockchain. Can Ethereum rise in 2019? While Bitcoin is a store of value and most people use bitcoin as a form of investment, Ethereum is mostly used by software companies for development of their own dapps. Ethereum saw a tremendous rise in price as well as in market capitalization during the ICO era which might have ended last year. In 2017, there was a boom in the overall ICO market and most Initial Coin Offerings collected their investments in the form of Ethereum. This had led to a massive demand for ETH as investors had to purchase ETH first in order to invest in other initial coin offerings. Ethereum Price Chart The price of Ethereum reached more than $1400 at the start of 2018 and people started to feel that Ethereum might even overtake bitcoin soon. However, as months passed in the year 2018, both the price and the market capitalization of ETH experienced a massive mall which might be related to the end of ICO era. Cryptocurrency analysts also believe that the massive selling of Ethereum by Initial Coin Offerings who had been storing them as investments was the main reason for the fall in the price of ETH. Thousands of ICOs started selling their ETH holdings when they saw a bear market coming upfront. Why ETH might never rise again: There is a great possibility that the price of Ethereum might never rise again, At least not to the figures it earlier achieved. One of the reasons for this is the rising popularity of other blockchain platforms such as TRON who are direct competitors to ETH and some are even performing a lot better than Ethereum. The overall development of ETH blockchain seems to be quite slow and thus people have started to adopt other blockchains which are more suitable for their products and perform better than the Ethereum blockchain. Another big reason why Ethereum might not rise again is the end of the ICO era. The number of initial coin offerings has seen a tremendous decrease last year and even lower this year. Also, the interest of investors has shifted from Initial Coin Offerings now as they do not see a safe and profitable future in investing in ICOs. As one of the major reasons for the rise of ETH was the ICO market and now with the end of the ICO era, Ethereum might never see those robust bulls again. The following article is not financial advice. Readers are requested to do their own research and analysis before making any investment decisions in the cryptocurrency market which is highly volatile. What do you feel about the future of Ethereum? Tell us in the comments section below. Continue Reading #Ethereum Ethereum is not a Security: SEC Chairman confirms Commission Staff Analysis Published 1 month ago on March 12, 2019 By Layla Harding Jay Clayton, the Chairman of the SEC and an American attorney gave confirmation on the Commission Staff’s Analysis that said that cryptocurrencies such as Ethereum are not securities. Ethereum like tokens are not securities: The SEC chairman has responded to a letter signed which was signed by Tedd Budd and several other colleagues after asking that whether the policy that would put forward last year by William Hinman, the director of the Divison of Corporate Finance should be regarded as the policy of the SEC or just a judgment of the Securities and Exchange Commission’s staff. Jay Clayton responded to the letter by stating that he agrees to the statements of William Hinman that was made during the June 2018 speech that concern the digital tokens or cryptocurrencies. He said that he agrees that if a digital token is offered as security is not fixed (static). It might be offered first as security as it might meet the definition of an instrument contract, however, the position might change over time if the digital token is offered in a manner that does not represent that definition anymore. He agreed with William Hinman’s clarification about how the digital token might not represent the definition of an instrument contract. 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