Ethereum Forks But Blockchain Attacks Keep On Coming
Between a block and a hard place? While ethereum's latest hard fork went according to plan yesterday (so far without any drastic side effects), attacks on its blockchain quickly began anew. In this case, ethereum executed a hard fork on Tuesday in a bid to stop denial of service (DoS) attacks that have been ongoing for about a month. Following weeks of transaction and block creation issues, the platform's developers determined that the best way to fix the issue was to reprice certain network functions, and users and miners responded by quickly upgrading their software (a process known as a....
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Not only Ethereum (ETH), the public blockchain based on smart contracts, has been under Distributed Denial of Service attacks lately. Ethereum Classic (ETC), a blockchain launched on the Ethereum code, has been under a similar attack. Some of the attacks were specific to ETH, while some affected both chains. The attacks made both networks barely usable. Ethereum hard-forked Monday. Ethereum Classic hard forks October 25. “There was only so much that could be done by fixing the clients without making backwards-incompatible changes,” Ethereum Classic project coordinator Arvicco Arvicco told....
Blockchain had a good run in 2016 with a lot going on, including over $1.5 bln invested in startups, Bitcoin breaking out of the $700 resistance level and the likes of IBM and Microsoft betting the shop on this new pervasive technology. We saw Barclays Bank’s first live commercial banking transaction, Hyperledger’s very promising Corda technology coming of age and, of course, more attacks requiring more forks. In addition, the Scaling Conference in Milan showcased some amazing projects that bode well for Blockchain’s amazing future. So what does 2017 hold for the Bitcoin Blockchain? On par....
Currently, various factors disincentivize attacks of minority chains; DLCs might create a workaround that returns the incentive to these attacks.
Data shows the Ethereum Proof-of-Work forks have sharply fallen down in the few days following the merge. Ethereum PoW Forks Have Fallen 66% In Just Five Days According to the latest weekly report from Arcane Research, the ETH PoW forks have performed very poorly against ETH since the merge. The much talked-about event transitioned Ethereum to a Proof-of-Stake consensus mechanism, essentially obfuscating the use of miners on the network. However, some communities that were in favor of the old PoW-based system decided to create forks as the merge came approaching. These new forks still rely....
Hard forks are a rather contentious issue in Bitcoin. The controversy surrounding hard forks can be seen most prominently in the context of Bitcoin XT 's implementation of BIP 101. While there have been successful Bitcoin hard forks in the past, the problem with hard forks of the Bitcoin blockchain is that they're, well, hard. Any change to the Bitcoin protocol that requires a hard fork essentially requires near-complete consensus to avoid a potential blockchain split. For example, there are many individuals in the Bitcoin development community who do not believe that BIP 101's use of a 75....