The Future of Ether: Ethereum Miners to Decide on DAO Rescue Fix
Ethereum stakeholders are set to secure their future and prevent a repeat of the June 17 attack as they are bound to decide on a DAO rescue fix. On Tuesday June 21, Ethereum announced the release of DAO Rescue HotFix 1.2.8, with the critical Ethereum soft-fork update aimed to rescue the stolen DAO funds. The proposed solution of this release is to freeze all transactions trying to move any funds from The DAO or the child DAOs. However, the rescue fix is still for the miners to decide on. Miners have limited power. Speaking to Cointelegraph, Christopher Franko, President of Borderless....
Related News
Ethereum (ETH) miners have currently voted in favor of Vitalik Buterin’s soft fork following the attack on The DAO (DAO) and associated devaluation of both assets. Soft Fork: Miners Respond. The ETH creator’s rescue plan, details of which were released Friday that has since drawn both praise and criticism from throughout the community, is being upheld by....
On-chain data shows Ethereum miners saw a 39% surge in revenue as fees soared during the DeFi craze. Ether (ETH) miner revenue skyrocketed during the month of September according to data from glassnode, an onchain analytics resource. While the price of Ether did not rise significantly during this time, miners on the Ethereum network saw their revenue increase due to high fees. Miners took home 450,089 ETH in fees ($168.7 million) and this represents a 39% increase over last month in which miners made roughly $113 million in fees. During the same period, Bitcoin miner revenue from fees not....
The rush to capitalize on ether, the native cryptocurrency of the Ethereum network, is in full swing. Among those interested are the world's miners, who operate vast networks of machines that process bitcoin transactions. Recent increases in the price of ether have sparked some bitcoin mine operators to expand their operations to cover it. Miners operate by effectively bundling transactions and attempting to create groupings, or 'blocks', to be accepted by the network. They make money when the return of generating and selling cryptocurrencies exceeds the cost of the electricity required.....
The price of ether, the native token on the ethereum platform, rose modestly yesterday, climbing nearly 5% after its developers executed a hard fork to restore funds from a defunct project once heralded as its greatest success story. While the full ramifications of the actions taken to rescue investors have arguably yet to be seen, the decision puts to rest weeks of uncertainty in the wider ethereum community that could be seen in its markets. In recent weeks, the demise of the The DAO has stalled ether's rapid price growth, halting its meteoric rise of more than 1,000% in Q1. As for where....
The price of ether, the native currency that powers the blockchain platform ethereum, sank yesterday following an Ethereum Foundation blog post that pointed out a flaw in a proposed plan meant to rescue funds lost in an attack on one of its signature projects, The DAO. The flaw would leave the distributed organization open to a denial of service (DOS) attack, and fears of such an event have driven ether prices lower, according to traders. Ether prices fell to as little as $11.60 during yesterday's session, down roughly 17% from their opening price of $13.95, Poloniex figures reveal. The....