For Ether Investors, All Eyes Remain on Divisive Fork Debate
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....
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Bitcoin developers are probing deeper into how best to execute a so-called hard fork, a contentious upgrading tool that's been at the heart of the nearly $16bn network's most divisive debate for years now. The issue is that to be used cleanly and without unintentional consequences, a hard fork requires all the digital currency's miners to move to a new blockchain, or version of its transaction history. One case study of what can otherwise happen came last summer, when ethereum inadvertently split into two networks after executing a hard fork some users disagreed with. That's not to say....
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,....
Ether, the native digital currency of ethereum, saw sharp gains while bitcoin experienced comparatively mild price fluctuations following last week's halving. The price of ether pushed higher during the seven days through 14th July as the broader ethereum community came closer to implementing a hard fork that would offer a solution to funds compromised during the demise of the distributed autonomous organization, The DAO. The digital currency's price continues to experience volatility "as the fork debate settles down", but it seems to be receiving tailwinds stemming from the 14th....
Since the June 17 attack on the DAO, the Ethereum Network has not remained the same. Evident in this scenario is the falling price of the network’s cryptocurrency, Ether. Soft fork. Speaking during the Dutch Blockchain conference, Gavin Wood, co-Founder of Ethereum said: “Assuming no further security issues, stolen Ether will remain illiquid for 39days. Then it will be completely fungible and may be exchanged or sold”. Wood outlines the three possible options available for the Ethereum community in handling the DAO attack: Do Nothing: By taking this approach, Wood says that most of the....
It's now been one month since a hard fork of the ethereum blockchain resulted in 11.6m ether being moved to an account with one function: withdraw. At the time, that was about $145m worth of the digital currency just waiting for former investors, and within hours of its creation, nearly half of those funds had been claimed. Today, however, the rate of withdrawal has come to a near standstill. Over the last week, the withdrawal account's balance has dropped from 2.39m ETH to just 2.29m ETH today. At today's rate, that leaves more than $25.9m worth of ether still unclaimed. Who owns this....