Bitcoin Developers Warn Ethereum Fork Sets Unsettling Precedent
The ethereum ecosystem is returning to normalcy following a high-profile hack last month that resulted in nearly $60m worth of investor funds (denominated in network tokens) ending up under the control of an unknown group or individual. The 'theft', as some would label it, was eventually reversed through what's known as a hard fork, a change in the code, 'approved' by an informal community vote, that effectively moved the disputed funds to a new account where investors could withdraw their original investments. But while the immediate impact was limited to the ethereum platform, the....
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Decisions like these are a pivotal moment in the history of cryptocurrency. Once the hard fork goes into effect, the markets will respond to whatever comes next. The Ethereum hard fork continues to be a significant topic of debate among cryptocurrency enthusiasts. Many people have voted for this decision, to bail out The DAO and its developers. But some voices raise the concern of how Ethereum developers are forcing the community to make this decision. An exciting time dawns for Ethereum, and this debate seems to be far from over. Relying on a hard fork of source code to solve a....
The controversial debate over the justification of the Ethereum network’s hard fork immediately led to the creation of Ethereum Classic, an alternative project developed to maintain the original non-forked chain of Ethereum. July 20, Ethereum completed its first hard fork to recover approximately 12 million ETH drained from the DAO by an unknown hacker, due to the underlying vulnerabilities and bugs of the DAO protocol. The successful completion of the hard fork was celebrated and praised by the majority of the Ethereum community, but was heavily criticized by Bitcoin developers and....
Ethereum's developers have unveiled new details about a technical fork aimed at resolving lingering network issues. Officially merged into the code of the most popular ethereum client, the new rules will trigger at block number 2,675,000 — likely to occur sometime around Tuesday of next week. The update will erase empty accounts that unknown attackers used to bloat the ethereum blockchain by way of a hard fork, a process generally seen as a dangerous way of upgrading the software (all miners will need to upgrade to the new network). But according to some developers, the reality is more....
In what some may consider an incredible show of leadership and quick response while others may criticize as a dangerous precedent, Ethereum developers are proposing a soft-fork to be followed by a hard-fork. In a Critical Update regarding the DAO hack posted on Ethereum’s foundation website, Vitalik Buterin, founder of Ethereum, stated: “The development community is proposing a soft fork, (with NO ROLLBACK; no transactions or blocks will be “reversed”) which will make any transactions that make any calls/callcodes/delegatecalls that execute code with code hash....
So far, developers are calling 'Spurious Dragon' a success. Ethereum's latest hard fork, officially activated at block 2,675,000 today, comes days after the code was first tested as a solution to ongoing network performance issues. Among other changes, the fork will give developers the ability to delete empty accounts left by an unknown attacker that had effectively flooded the network. While generally seen as a dangerous way to upgrade a blockchain (since it can lead to a network split if the proposed changes aren't accepted by everyone), ethereum's developers have embraced hard forks as....