Specter of Ethereum Hard Fork Worries Australian Banking Group
Everywhere the ethereum community looks for a solution to the collapse of The DAO, obstacles lay in its path. After news yesterday that a proposed soft fork solution carried with it a previously unidentified exploit, we're now seeing an example of the kinds of objections Ethereum may face if a proposed hard fork is implemented. Speaking today at the Blockchain Summit in Melbourne, Australia, ANZ Banking Group’s executive manager, Nicholas Groves said that the incident has highlighted the importance of "who controls a public blockchain". According to a Financial Review report,....
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Ethereum Classic is all set to get a hard fork of its own soon to counter the sustained DOS attack. Ethereum Classic is on its way to get a hard fork in the next two days. Ethereum recently split into two blockchains following a hard fork introduced by the Ethereum development team a few months ago. The hard fork resulted in two versions — Ethereum (ETH) and Ethereum Classic (ETC). While Ethereum continued to operate on the new fork, a portion of the cryptocurrency community decided to continue with the original Ethereum blockchain, calling it Ethereum Classic. Ethereum recently came under....
The Ethereum Hard-Fork has been a highly divisive event on the cryptocurrency landscape. The hard fork, along with a rescue soft-fork in the weeks prior, has been a godsend to those who invested in The DAO, a smart contract built on Ethereum that ended in one of the most catastrophic implosions in Crypto history. With 12% of the extant Eth tied up in the DAO, The majority of Ethereum hashpower decided to hard-fork to refund DAO investors their money and ‘start fresh.’ Dissent Spawns Ethereum Classic. The methods taken to enact this change on the Ethereum blockchain dissatisfied many,....
The Ethereum hard fork, executed to prevent future hacks like the DAO fiasco, marks the first Ethereum bailout, according to Frances Coppola, a finance, banking and economics journalist, writing in Forbes. The Ethereum community needed the hard fork to prevent future hacks because the code wasn’t properly tested to begin with, disproving the claim of “immutability.” The majority of Ethereum miners had invested in DAO, so it’s no surprise they supported the hard fork since it allowed them to recover their investments. Those who objected on the grounds that the hard fork eliminated the....
The highly anticipated Ethereum hard fork is expected to launch on August 4 at block height 12,965,000 according to Ethereum core developers. The London hard fork will add five Ethereum Improvement Proposals (EIPs) that aim to enhance the blockchain. However, the Berlin hard fork was postponed after a vulnerability was identified by the audit company Chainsecurity and the London hard fork could be delayed as well. London Hard Fork Scheduled for August 4, 2021 Ethereum’s London hard fork is one of the most long-awaited changes in quite some time and will follow the recently....
Ethereum’s DAO hard fork update landed on GitHub yesterday, allowing users to vote on whether they support the Hard fork that will refund the DAO after the attack that drained around four percent of the total Ethereum (approx. 50 million US dollars worth at the time) in circulation from the smart contract. Ethereum Reaches A Crossroads with Hard Fork Update. This hard fork update, if successful, would wipe one of the biggest failures to happen in the cryptocurrency ecosystem away, giving the people with a stake in The DAO (and others who suffered from the subsequent price depreciation of....