Altcoins Lisk blockchain stops operations due to an occurrence of unforeseen bug Published 7 months ago on June 3, 2018 By Coinnounce - Coin Announcements Share Tweet Recently, transactions made utilising Lisk blockchain came to a halt as an erroneous transaction activated automated security frameworks on the system. Max Kordek, The President and CEO of Lisk, immediately posted on Reddit, that briefed the matter to the community of Lisk. Max stated: “During European morning hours, an anonymous individual broadcasted a faulty transaction to the Lisk network. Due to a rare edge-case bug in transaction processing, this transaction was deemed valid and went through the processing steps on each individual node. However, it was an invalid, maliciously customized transaction type that utilised this particular code bug.” To fight the issue, the Lisk blockchain instantly halted the operations of new blocks, making all transactions made on the system to stop. As the system stopped working, many transactions started to grow on the system, with no transaction reaching the end point. Presently, it is not clear whether the individual had a malevolent plan. Kordek stated, that the bug was discovered and worked upon, regardless of whether it was as an analysis or an attack is as yet obscure. At first look, the constrained transitory stop in the Lisk blockchain might be seen as something a centralized blockchain network could have done. Nonetheless, Max called attention to that the reason for the system to stop was because of an automated fail-safe framework which safeguards the Lisk blockchain. Numerous clients of the firm immediately expressed their appreciation for the safe and secure framework. One Reddit client stated: “Almost like Lisk has its own built-in antivirus. That’s awesome, haven’t heard of this in any other project.” Lisk utilises a Delegated Proof Of Stake framework to help check the system. This demonstrates identically to a standard POS framework however utilises a fixed measure of delegate nodes to help validate the system. Numerous analysts thinks that a DPOS framework acquaints centralisation to the decentralised nature of digital currencies. Nevertheless, by and large with Lisk and ARK, DPOS frameworks have been turned out to be reasonably successful at securing blockchains worth a millions of dollars. The Lisk group propelled a fix, at around 5:00 PM GMT, which completely switched the issues caused by this broken and pernicious transaction. Jan, the community manager stated: “We have just now released the fix and solution to this matter and are now returning to a normal and regularly operated network. Within the next moments, everything will be optimally functioning and will allow for all users to use the Lisk blockchain and their tokens as they did prior to this. To remind you all, everyone’s fund is safe.” Max pointed out that once the system starts operating once more, it will go about as though the transactions happened after the interruption did not occur. This part of the fix was important in ensuring that all funds on the system remains secure as though the bug never happened. Related Topics:AltcoinBlockchainDecentralizedLisk Up Next What is Bitcoin Diamond (BCD)? Don't Miss DENT Topped The Trending List Of Mexico And Beats Google Play And Google Drive Continue Reading You may like Bitcoin institutional adoption rising: BTC price analysis Is Bitcoin ready for the Santa Rally: Off to $4400. Bitcoin Coffee: The first blockchain coffee is a fact! Seven Popular Ways to Earn Bitcoin Bitcoin Whale Alert: 5351 BTC transferred to Bitfinex Bitcoin panic selling made easier by Coinbase 2 Comments 2 Comments Pingback: Lisk blockchain stops operations due to an occurrence of unforeseen bug - The HODL Life Pingback: Why Blockchain will disrupt every industry in 2018 and 2019 - www.cafe4apps.net Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website Altcoins Cryptocurrency Market Updates: Bitcoin May fall further Published 3 weeks ago on November 24, 2018 By Layla Harding The cryptocurrency market is still facing the same bullish trend today, yet again. Bitcoin price recovered a little with trading around $4300 to $4400. Yesterday the price of bitcoin fell up to $4190. Ethereum is still trading at a year and a half low of $125. Apart from ethereum, most altcoins are showing small corrections. Bitcoin Cash moved 3% upwards while Monero has moved 4% upwards in the last 24 hours. Bitcoin Gold and Bitcoin Diamond have had good gains for the day with 8% and 16% rise. IOTA is trading at around $0.32 which shows a 6% improvement from yesterday’s price. NEO is up by 5%. However, the small gains are nothing in front of the massive downtrend these altcoins went through in the past couple of days. Cryptocurrency Market Capitalization Improved The total cryptocurrency market cap yesterday came down up to $136 billion which was the lowest of 2018. In the last 24 hours, cryptocurrency market has managed to add $4 billion in the market capitalization adding to $140 billion. Over the last week, the cryptocurrency market had lost over $40 billion and over the last month, around $70 billion have been erased from the cryptocurrency market capitalization which is yet to be recovered. Bearish predictions for bitcoin While the market cap is trying to recover the price predictions for bitcoin still remain bearish as many cryptocurrency analysts have predicted that the only support after the current significant support of $4000 is at $3000. So if the price drops below $4000, it will definitely reach down to $3000 after which the price is expected to recover. The overall situation of the market is still harsh as there is no major recovery from the massive losses that occurred in the past few days. What do you think about the bitcoin predictions being made by crypto analysts? Tell us in the comments section below. Continue Reading #Bitcoin Bitcoin Cash Hard fork screwed the whole cryptocurrency market Published 4 weeks ago on November 19, 2018 By Layla Harding The original Bitcoin Cash split into Bitcoin ABC and Bitcoin SV during the hard fork but no one is sure to weather BCHSV or BCHABC will survive in the market as the hash wars still continue. The hard fork has lead to an uncertain future of Bitcoin Cash and also screwed the whole cryptocurrency market. The Price of both the new coins is on a continues decrease where Bitcoin Cash ABC values at around $226 and Bitcoin Cash SV values at around $76. Cryptocurrency Market Crash The whole cryptocurrency market is suffering because of the continues wars going on between the two teams which have created a bad reputation of the crypto space to the newbies. At this time when more and more institutional investors were entering into the cryptocurrency space, the hard fork has created a feeling of Fear, Uncertainty and Doubt amongst them. BTCUSD yearly chart As the hard fork started, the entire cryptocurrency market faced a downfall where all major cryptos are on a 6 month low with bitcoin trading around $5200 that is a yearly low for the most dominant cryptocurrency. The decline is the price has created fear in the minds of investors who are now talking about capitulation. Should Craig Wright be blamed? Craig Wright who claims to be the real Satoshi Nakamoto and the founder of the original bitcoin has been funding his side of the war using BTC. Cryptocurrency enthusiasts around the world are criticizing Craig Wright and also calling him a lier. To all BTC miners… If you switch to mine BCH, we may need to fund this with BTC, if we do, we sell for USD and, well… we think BTC market has no room… it tanks. Think about it. We will sell A Lot! Consider that…. And, have a nice day (BTC to 1000 does not phase me) pic.twitter.com/oUScEahtWc — Dr Craig S Wright (@ProfFaustus) November 14, 2018 Oh. And @JihanWu and @rogerkver selling… they will also have to sell BTC to pay rented hash. If this is a long war… expect 2014 prices in BTC… think what that does… Have a nice day — Dr Craig S Wright (@ProfFaustus) November 14, 2018 The local media’s role The real reason behind the rise of cryptocurrency and blockchain was the mass adoption by people who heard about it through local media. At that time, the local media described bitcoin and other cryptocurrencies as the future of money explaining the decentralized nature of such currencies, but now due to the wars within the cryptocurrency ecosystem, the local media has started to criticize cryptos and people have started to lose faith in the crypto market. If the amount of money being used in such hash wars would have instead been used for the development of the crypto ecosystem with advancements such as lightning network, the market could still be flourishing rather than being on the verge of getting sunk. Continue Reading #Ripple Price Analysis XRP price analysis and market updates Published 1 month ago on November 18, 2018 By Janet F. Sanchez XRP has overtaken ETH again by becoming the number 1 altcoin according to market capitalization. Crypto analysts believe that XRP can soon outrage bitcoin too and take the spot of the number 1 cryptocurrency while bitcoin is still more than 52% dominant. XRP had a downfall last Wednesday when XRP price fell to $0.43, but in the last 24 hours, XRP experienced a good bullish momentum with a 12% rise trading above $0.51. XRP is currently trading at $0.519 (at the time of writing this article). XRPUSD 5 day chart One of the major reasons for the rise of XRP is the approval of cryptocurrency ETF by the Switzerland authorities and also the adoption of RippleNet by more and more financial institutions worldwide. Many other altcoins apart from XRP also experienced a bullish momentum in the last 24 hours. XRP is on the top of the list for gainers while Stellar and Monero are on the 2nd and 3rd position. The price of bitcoin showed little improvements by remaining above $5600 mark. Many financial analysts predict a bearish future for cryptocurrencies in 2019, while many other cryptocurrency enthusiasts believe that the following predictions are just to create a feeling of fear amongst the cryptocurrency investors. What do you fell about the same? Tell us in the comments section below. 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