Krypton Aims at More Secure Smart Contracts After Ethereum Fork
New smart contract and distributed apps platform Krypton is in the process of expanding its project by networking, seeking to secure $2 million USD in funding from private investors. Krypton is intended to be an alternative to Ethereum, and is in fact a fork of it. It launched in February 2016 when interest in smart contracts, DAOs and DApps was gaining traction, but planned a network with a smaller initial token release, lower inflation and faster speed than Ethereum. The KR currency trades on Yobit and Bittrex, and is currently trying to get a listing on Poloniex. Krypton’s Security....
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Amid new concerns about the viability of blockchain smart contracts, one company is releasing a proposal that seeks to make it easier to ensure their security. Developed by Smart Contract Solutions, the open-source Zeppelin project aims to offer a community-driven framework for secure, audited code. The goal is to prevent the unintentional loss of funds, a danger perhaps best illustrated by the collapse of ethereum's biggest smart contract, The DAO. Since ethereum is the best-known smart contract platform, the first set of tools are written in its programming language Solidity. But,....
Smart contracts platform Krypton is recovering from a 51 percent attack this week that saw 21,465 of its tokens exchanged for bitcoin and double-spent. According to the fledgling project’s founder and project manager Stephanie Kent, the attack was a “two-pronged” effort involving rented hashing power and a DDoS attack on existing nodes to multiply the hashing advantage even further. The attacker sent more than 21 thousand Krypton (KR) tokens to the Bittrex crypto exchange, sold them for bitcoin, then used the majority hashing power to roll back the transactions. Financial Return of Krypton....
According to various reports, a malicious group of hackers called the “51 Crew” is hijacking blockchain clones by taking a majority of their hashrates and double spending their tokens. Two cryptocurrency projects, Krypton and Shift, are among the first projects to be hit. The 51 Crew Wants to Damage Smaller ETH Clones. The 51 Crew managed to attack the....
"The two things to know about smart contracts is that they’re dumb, and they’re not contracts." This statement from Harvard Berkman Center's Patrick Murck seems increasingly relevant in the wake of the collapse of The DAO. The ethereum-based fund was the largest smart contract issued to date, and its failure has led many to reconsider how ready the technology is for primetime. At their core, smart contracts facilitate decentralized applications by eliminating trust points. Because they automate existing processes, many believe smart contracts could someday lower costs across....
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....