Ethereum [ETH] has a condemnatory bug, Parity Technologies detect!
A condemnatory bug has been detected in a testing domain utilized by one of the two vital virtual products pivotal to the task of the world’s second-biggest blockchain; Ethereum.
As covered, by the UK-based Parity Technologies in a blog entry, the issue was found to cause those running the software to fall out of synchronizing, which means others utilizing distinctive programming would not perceive their exchanges. While the bug was found on a TestNet, the stress is that it could be misused on the MainNet too.
All things considered, Parity Technologies is currently encouraging all clients to refresh their product to a recently fixed rendition.
Openly accessible information proposes the bug could have affected approximately 30 percent of the Ethereum arrange – those that utilization programming issued by Parity to remain in a state of harmony with the more extensive system. Be that as it may, as indicated by delegates of Parity, the issue was fixed before it could reach nodes working on the live Ethereum blockchain.
All things considered, organizations must refresh to the new programming to stay safe from the powerlessness on the MainNet.
Talking on Twitter, a few organizations, including mining pool Bitfly, have approached to state they’ve upgraded their product to the recently secured emphasis (1.10.6-steady or 1.11.3-beta).
As organizations that work on Ethereum start refreshing their product to maintain a strategic distance from the issue, it has been speculated that it could, in any case, affect any blockchains that run Parity programming, including clients of Ethereum exemplary [ETH].
The news of the helplessness comes when Parity has been under expanded investigation for a few comparative security issues.
Most strikingly, last November, a bug in one of the organization’s wallet contributions drove 513,774.
16 ETH, or $311 million as per current measurements, being solidified and thus, out of reach to its proprietors.
N.J Kor, a Twitterati tweeted:
“Pack up and leave. Ethereum is a terrible platform and has too many bugs due to terrible security and strange language.” .
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Simran Alphonso is a full-time Content Writer at Ambcrypto. She has a background in Financial Markets and expertise in Digital Marketing. Continue Reading Your email address will not be published. Required fields are marked * Comment Deriving Ethereum [ETH]’s future in Derivatives market
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Ethereum has grown swiftly over the last few months with a sprouting transaction volume and market capitalization. On January 15th, 2018 Ethereum’s market cap was at its all-time high with $134 billion, making it the second largest crypto-asset.
Ethereum is power platform on which one can build one’s own cryptocurrency product. ERC20 token standard came into limelight at the time when the regulation was needed for security reasons. Currently, there are 88843 ERC20 Token Contracts [etherscan], which means all of these tokens of different types will typically work the same in any place within the Ethereum system. Collectively, Ethereum can be termed as the backbone of the growing altcoin market.
Unocoin, India’s leading Bitcoin company recently wrote the attributes of Ethereum’s future. It stated that the most natural next move is for Ethereum to enter the futures derivatives market following Bitcoin’s entry into the same. Bitcoin entered the contracts market in December 2017.
It trades thousands of times a day, representing tens of millions of dollars of the digital currency.
When Bitcoin has the potential to open up to a whole new world of investors, perspective a lot of the institutional variety, which tends to have extensive pockets. Then Ether which is linked to its Ethereum blockchain is a business, which also has the prospect to be introduced in derivatives as it can be a signal in reaching the more professional corners of Wall Street.
Chicago Board Options Exchange [CBOE] now has the infrastructure to add Ethereum futures as Gemini [CBOE’s partner on cryptocurrency futures] has provided Ethereum trading since at least 2016.
Commenting on cryptocurrency entering the derivatives market John Deters, Chief Strategy Officer of CBOE said:
“We’ve really come to the conclusion recently that cryptocurrencies are here to stay.”
Unocoin’s article also mentions how Ethereumn’s price will impact whenever it decides to be a part of CME and CBOE. Bitcoin’s peak price coincided with its introduction into contracts market on CME. This boom was a result of the optimistic investors and it also saw a subsequent fall.
According to Unocoin’s article:
“The prices might skyrocket. When Ethereum does become part of the CME and CBOE, there is a high chance to see a price gain of as much 50% from the current levels.
For Bitcoin, the jump was about 57% prior to the CBOE announcement.” . Last month: Bears & Partnerships! Bitcoin, Ethereum, IOTA least affected; Ripple, TRON, EOS affected the most!
Published Anirudh VK Source: Unsplash
The bearish market mauled cryptocurrencies last month, with all the coins in the top 15 reflecting double-digit losses. Market sentiment also was at an all-time low, as the crypto-community turned to memes for emotional support when the market went down.
Not even mainnet launches could turn the tables for Tron [TRX]; EOS maybe partially. They registered losses over the month as well, as the bearish market trapped all cryptos in quicksand.
All top coins ranked by the percentage of their losses are: Cardano [ADA]:
Cardano’s ADA token took the biggest hit last month, starting off the month at the value of $0.
37 and dropping to a low of $0.22, where it is currently trading. This represents a loss of a whopping 40.5%! This undoubtedly puts ADA at the position of biggest loser in the market this month.
Over the last month, Cardano released a paper wallet with an offline storage feature. The announcement came right after the launch of their first testnet on 28 th of May. It also saw a listing on Cryptopia and a partnership with Metaps .
However, all the good news could not stop the coin from falling as it did. Bitcoin Private [BTCP]:
Not as prominent as other coins on this list, this coin is in the center of attention after multiple endorsements by influencers . However, this was not enough to save it from a nosedive, as it saw the second largest loss this month.
Starting the month off at $39.
27, it reached a high of $47.35. It is currently trading at around $21.45, which marks a loss of 37.
7%. The announcement of various positive news could not help its case.
Near the beginning of the last month, it was listed on HitBTC . The developer team also announced shortly that they will begin phase one of beta testing for their merchant platform. This coincided with their release of a full node wallet . Farther along, the website crypto51.app specified that the coin was at a high risk of 51% attack , with a cost of just $778 to attack the coin. Neo [NEO]:
Touted as the next Ethereum, Neo rests comfortably in the position of the third biggest loser this month.
While it started the month off at $84.28, hitting a high of $89.29, it is currently trading at $55.87. This comes out to a loss of 33.
Its case was not helped by the news, as a security vulnerability was discovered in the network’s NEP5 protocol last month. There was also news of the NEO Foundation co-founding a Joint Task Force along with Ontology Foundation , and of a NEO based exchange integrating Ledger devices just yesterday. Dash [DASH]:
Dash’s token took a huge hit in the market over the last month, with a 32.8% loss over that time. It started trading last month at around $482.41 and is currently trading at $324.
It hit a high of $520 this month.
Dash had a rough month, as it was one of the coins recommended for delisting by Japan’s Financial Services Agency in May. This was followed by the coin being delisted from Tokyo’s Coincheck and South Korea’s largest exchange platform Korbit in quick succession. However, a light seemed to burn on the horizon for Dash, as it saw a partnership with Rewards.
com . Monero [XMR]:
This privacy coin is in the same boat as Dash, as it saw a drop of 31.3% over the last month.
It was trading at $245 at the beginning of the month and saw a high of $257. It is currently trading at around the $168 mark.
Monero also saw a delisting on Coincheck and Korbit , due to its privacy properties. Also on the exchange side of things, Monero was replaced on Changelly by Monero Original, a fork of the coin. Changelly restored XMR trading soon after and said the delisting was only for preparation of the fork.
The XRM wallet also received updates for enhanced community interaction. It also introduced features for better security.
Stellar Lumens [XLM]:
Lumens did not deliver a stellar performance last month, with a 30.2% drop in value.
It was trading at the $0.43 mark at the beginning of last month, reaching a high of $0.44 soon after. It is currently trading at $0.
30, a marked decrease in price.
The coin had nothing but good news this month, as news of announcements, listings and events poured in. First on the list was new exchange CoinbitGlobal, which listed Lumens as one of the coins available at launch. deVere Group also listed Lumens as a coin due to growing demand by investors.
USA’s premier stock exchange NASDAQ added support for Stellar’s token to be traded on their platform. Binance also added a new XLM-USDT pair.
IBM’s partnership with Lumens was also emphasized on as Jesse Lund, Head of Blockchain at IBM, said that it has “never been stronger”. The blockchain grew bigger, as 300k new users were found to have started utilizing the blockchain in the span of 6 months.
Stellar engaged in community development, announcing the 7 th Stellar Build Challenge to engage community developers. It also partnered with SatoshiPay to offer 100k coins as free credits. Ripple [XRP]:
Ripple’s famed XRP token, resting at the 3 rd position by overall market cap has come in the middle of the pack for drops in value this month.
The token had a strong start at the beginning of May, trading at $0.
81 and reaching a high $0.91 over the month. The coin is currently trading at $0.62, resulting in a 27.
02% drop in price over the month.
The software behind the XRP Ledger saw development as the finished product was released after almost 6 years of development. The official announcement came after teasing it on Twitter and changing the version number on GitHub.
xRapid saw positive results from consumers who used the product to perform pilots.
They were to test the cross-border transactions that Ripple processed with 60-70% savings. Companies were “delighted” and called the technology a “game changer”.
Ripple saw listings on CoinbitGlobal exchang e, Coinome , and Uphold , along with full support on the Revolut platform. London’s premier trading institution LMAX also added XRP as a coin on the exchange. Japan’s SBI Group launched a trading exchange for cryptocurrencies, where XRP is rumored to be the base pair for all coins.
It also saw mainstream recognition when Ashton Kutcher donated $4 million to charity on the “ Ellen DeGeneres Show ”. EToro performed a survey that showed that investors preferred Ripple’s token overall coins. Bitcoin Cash [BCH]:
Controversial Bitcoin fork Bitcoin Cash was one of the most stable coins this month, but still saw a gradual depreciation in value. It was trading at $1471 at the beginning of last month and is currently trading at $1088.
Even as it reached a high of $1832, it still reflected a loss of 26.03%.
The Bitcoin Cash coin underwent a hard fork on May 15 th , in order to increase the block size from 8 MB to 32 MB. There were a variety of applications made available after the fork, such as Memo.cash , Handcash and Bitek .
deVere group listed Bitcoin Cash as one of the cryptos for trading, while Gemini exchange also added the coin, with exchange BL3P removing the coin from its platform. Tron [TRX]:
This was a big month for Tron, but the event failed to transition into the price as it fell a solid 25% in value over May.
It was trading at $0.08 at the beginning of the month and went down to a price of $0.06 after reaching a high of $0.09.
The mainnet for Tron launched on May 31 st , with all materials being submitted to Github on the day. This translated to a slew of exchanges adding support for the exchange. Binance , Zebpay , Coinnest, Cryptopia, Bitbns, and OKEx were just some of the exchanges that announced support.
TRON Foundation released a redesigned website , and also launched the Tron Virtual Machine . They acquired BitTorrent as one of Tron’s “pillars”. Tron offered $100k as bug bounty for the mainnet, quickly upping it to a whopping $10 million! VeChain:
VeChain’s token saw a 22.7% drop over the month, from a price of $4.93 down to today’s $3.
81. It reached a high of $5.60 over the month.
The VeChain platform rebranded to ‘VeChainThor’ last month.
The trading platform BitMark added support for the trading of VeChain tokens. Indian platform Zebpay allowed for the trading of the token as well. VeChain also partnered with Bright Food , a famous Chinese national food brand.
They released their upgraded whitepaper and development plan. They also collaborated with SlowMist and other third-party firms to enhance the security of their blockchain.
Another coin which announced its mainnet migration for this month, EOS saw a 19.01% drop in value over the month. While it is one of the five coins this month that lost less than 20% in value over the month, it still dropped from almost $18 to its current price of $14.
It saw the last week dotted with security concerns , with a team from Qihoo 360 discovering serious vulnerabilities in the code of the blockchain. Millions worth of EOS was stolen from investors as block.one became the victim of a scam.
Zebpay, Bitbns, KuCoin, Kraken and Bithumb were some of the exchanges that supported the mainnet swap . Litecoin [LTC]:
The OG Bitcoin fork, Litecoin, has seen a performance that is the best it can do in a bearish market. As the currency with the 4 th lowest losses, Litecoin saw a drop from $151 to $123, which reflects a drop of just 18.54%.
Litecoin saw support for native transactions added on exchange platform Abra and Gemini Exchange added Litecoin for trading. Prominent exchange platform NASDAQ also added support for the coin .
also added support for payments through Litecoin, while it boasted added security in the form of increased hashpower. Litecoin partnered with TapJets , SurfAir and VRPorn to increase usage. Ethereum [ETH]:
Ethereum’s price this month did not offer any surprises to investors. With a passable depreciation of 17.7% over the month, investors had nothing to say about the project that changed the blockchain.
From a price of $723 at the beginning of last month, ETH has depreciated to $595. This is after it reached a high of $831 over the last month.
Ethereum ranked highest in China’s ranking scales for cryptocurrencies and their accompanying blockchains last month. Ethereum’s Vitalik Buterin was offered a job at Google to work on their secret blockchain project.
Real estate service provider Propy added support for individuals to buy houses using Ethereum last week. There was a development of games on the Ethereum blockchain. Bitcoin [BTC]:
Bitcoin, the original cryptocurrency, stayed strong this month with almost the least amount lost in top cryptocurrencies. The coin started off strong with $9199 at the beginning of May, going up to a high of $9917 and currently trading at $7655. This marks a 16.7% depreciation in value.
Bitcoin’s month was plagued with rumors of sell-offs, as Mt. Gox moved 8200 BTC from cold wallets .
It also marked the move of institutional investors into the market, as Goldman Sachs started offering Bitcoin futures for trade. Taxes can also be paid through Bitcoin, said an announcement earlier today.
Concerns over the blockchain’s electricity consumption increased, as a study confirmed that it consumes as much electricity as Ireland does in a year. It failed to see an increase after Consensus and Fundstrat’s Tom Lee clarified why. Bittrex added support for Bitcoin to be bought with USD.
German authorities and Scotland Yard confiscated Bitcoin during this month.
The surprise underdog remained the most resilient to the bearish market, with the lowest losses this month. IOTA reflected a 14.
7% decline in its price, after dropping from $2.24 to $1.91. It reached a high of $2.66 over the month.
IOTA entered into a partnership with Porsche for Startup Autobahn. It also has a collaboration in the works for Kontakt.io . It released its mobile wallet known as Trinity Mobile Beta . .