MinerGate CEO Opposed Ethereum Hard Fork On Legal, Business And Philosophical Grounds
While most miners supported the Ethereum hard fork to prevent future breaches, Claude Lecomte, CEO at MinerGate, opposed the plan and posted a statement shortly before the hard fork took effect yesterday, claiming it will jeopardize Ethereum on legal, business and philosophical levels. Ethereum holders previously voted for a hard fork to deprive the DAO thief of his ill gains and return the funds to token holders. The hacker was able to penetrate the system and transfer funds from the DAO to a dummy version of the organization to which only the hacker possessed the key. All DAO tokens,....
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Minergate, a mining pool and the developer of GUI mining software that supports various mining various cryptocurrencies including bitcoin and Ethereum, is including support for Ethereum classic, the blockchain based on the original Ethereum platform’s consensus before the hard fork. Although the original Ethereum blockchain was officially abandoned following a hard fork that was triggered as a result of the DAO Ahack, a group of community members have since come together to implement the Ethereum blockchain’s original consensus. The project, known as Ethereum Classic, was announced last....
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....
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 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....