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Source : Over 3,000 Ethereum Smart Contracts Contain Major Security Flaws Ethereum smart contracts are hot technology as of right now. While many companies see merit in this technology, there are security issues a swell. Researchers discovered several vulnerabilities which put millions of Dollars at risk. This is worrisome news, although there is a positive side to it as well. Security Flaws in Smart Contracts There are many different aspects to smart contracts. Templates can be used, but any additional code is always a security risk. Considering how there are so many Ethereum-based contracts out there, it is good to know if they are secure or not. According to new research, the future isn’t looking all that bright as of right now. Through a new approach to sniff out vulnerabilities, researchers aim to improve the security standards. Unfortunately, they already discovered over 3,000 vulnerable contracts in existence right now. These contracts have a combined value of nearly $6m at current Ether prices. If someone were to take advantage of these flaws, things can get out of hand pretty quickly. The main problem is how smart contracts are used to manage other people’s money. While it sounds convenient, there is always a trade-off to be made. The fact existing contracts cannot be amended is a big problem. Especially if a security flaw is discovered, there is nothing to be done about it. For some reason, this is a major design flaw which never was much of an issue, until now. Analyzing the Code is Difficult Even though smart contracts are designed to simplify operations, their code is pretty complex. Every contract is written by a human coder, yet their input is difficult to analyze. As such, it can take months, if not years, until major security flaws come to light. The researchers explained they use a different approach to find flaws: “Assume we put a few coins in the machine, and just start randomly pushing buttons hoping that the inner workings of the vending machine—which we have no knowledge about, springs and whatnot—eventually releases the latch so you can take the candy.” By creating a private fork of the Ethereum chain, the researchers can execute permutations of interactions. As such, they can monitor these creations for abnormal behavior. It is not the most convenient approach, but it seems to work just far. No specific information regarding the nature of these flaws has been disclosed as of right now. Rest assured criminals are already probing for weaknesses by the time the information goes public. The post Over 3,000 Ethereum Smart Contracts Contain Major Security Flaws appeared first on NewsBTC.
Source : Is Proof-of-Work a Major Problem for Bitcoin’s Future? Bitcoin is a very energy-inefficient project as of right now. The proof-of-work aspect has been discussed many times over. It seems community members are now advocating to change this algorithm altogether. With mining centralization becoming a real problem, such a change is not necessarily a bad thing. The Proof-of-Work Situation Generating new Bitcoins requires dedicated hardware. This hardware is expensive and consumes a lot of energy. As such, we regularly see reports of how inefficient and wasteful Bitcoin mining really is. These discussions always cause friction among community members as well. Changing this situation will not happen overnight, though. After all, the Bitcoin network is secure thanks to proof-of work. Without this solution in place, the network is open to hackers and other attacks. At the same time, the mining aspect of Bitcoin is not decentralized by any means. Unlike what some people think, a lot of the mining activity is centralized in many ways. In terms of hardware manufacturers, there is only one company that matters. Bitmain makes a healthy profit due to Bitcoin’s proof-of-work algorithm. It is expected the company made over $3bn in operating profits throughout 2017. That is quite a steep amount, but not entirely unexpected. The Chinese company has a monopoly on the market as of right now. Changing the Way Bitcoin Works Bringing more decentralization to Bitcoin is not easy. As long as the reliance on proof-of-work remains in place, centralization will remain a pressing threat. As the network becomes “bigger’, finding a solution becomes even more difficult. If this trend continues, China will control Bitcoin in every way one can imagine. It controls the hashrate, the mining hardware production, and most mining pools as well. Not an ideal situation for a decentralized currency whatsoever. The bigger question is what we can do from here on out. A recent Medium blog post by Cobra, co-owner of bitcoin.org and BitcoinTalk, touches upon all of the aforementioned problems and more. Switching from Proof-of-work to something else is not a logical evolution. However, sticking with the current PoW-oriented Bitcoin could eventually cause more problems, friction, and centralization. Bitcoin Core developers will have to come up with a creative solution to effectively counter these problems. Whether or not Bitcoin can survive without proof-of-work remains a big question. It is true miners can be seen as a “problem” in many different ways. They are the ones determining the future of Bitcoin by supporting or rejecting scaling solutions. The regular user has absolutely no say in the current Bitcoin ecosystem, unfortunately. Bringing power back to the people is not straightforward. A new hard fork is not necessarily the answer either. Something has to change sooner rather than later. How that change will be enforced, remains to be determined. The post Is Proof-of-Work a Major Problem for Bitcoin’s Future? appeared first on NewsBTC.
Source : Titanium ICO Suffers Theft of 16 Million Tokens from Firm Wallets We have now seen a number of preliminary coin choices undergo mysterious hacks and different issues after their token gross sales ended. It is among the main points related to this specific trade. Titanium, a comparatively new ICO, has fallen sufferer to the theft of 16 million ICO tokens. It appears this may occasionally have been an inside job, though that has not been confirmed as of proper now. Titanium ICO Experiences Main Points Despite the fact that most individuals haven’t even heard of the Titanium ICO, that’s not what issues right here. It’s one other preliminary coin providing which seemingly didn’t take the correct safety precautions. It’s uncanny what number of such initiatives exist immediately, as this isn’t the primary time a challenge has had its website hacked, funds stolen, or is pressured to take care of malicious actors. Relaxation assured it won’t be the final time we see such an incident happen both. The Titanium workforce issued a significant warning to all its traders yesterday. In the communique, the workforce defined that 16 million BAR tokens had been stolen from the corporate’s wallets. Whereas that’s relatively troublesome, it additionally exhibits this may occasionally very properly have been an inside job by one of many preliminary coin providing’s workforce members. That hasn’t been confirmed as of proper now, nevertheless it poses loads of issues for the individuals who invested on this challenge. With 16 million tokens having been stolen, the Titanium workforce has loads of points to type out. Contemplating that this theft represents “a big a part of the signature token provide”, it’s evident fast motion is greater than warranted. The very last thing this nascent ICO wants is somebody dumping their tokens throughout all exchanges and crippling its worth in the long run. None of this might have been a difficulty if the workforce had taken correct precautions, however that may be a subject for one more dialogue. For now, it appears the Titanium workforce will take the logical strategy of making a secondary token by forking the unique one. This new token must be built-in into the challenge’s infrastructure, although that shouldn’t be too troublesome. All current token holders will obtain the brand new token at a 1:1 ratio, which is simply regular. Whether or not customers will probably be issued these new tokens will depend upon if they’d already moved their tokens out of the web site’s wallets or not. In the event that they did, a type will should be crammed in with particular particulars. For now, the buying and selling of BAR tokens is to be suspended on all the supporting exchanges. It stays unclear if all buying and selling platforms will adhere to this request earlier than any main harm is finished, though it appears protected to imagine that they are going to. This hack won’t have an effect on the workforce’s plan to launch their MVP in March, which is one constructive factor to come back out of all this. Sadly, that is one …
Source : PR: Why the Bitcoin Holders Should Hurry up to Invest in e-Chat Before March 1, 2018 This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release. According to the decision made by the e-Chat management team, the main round of ICO is extended until March 1, 2018. There are a couple of reasons for that. 1) The e-Chat team is still hesitant about the e-Chat Ethereum fork. As it was mentioned before, the fork might take place right after the ICO. Due to that e-Chat has started a poll where all users have an opportunity to vote for the fork or against it. Two additional weeks of ICO will give e-Chat followers a chance to make up their mind and the team will have a better vision of the startup, which is very important for the further development. 2) The team is actively trying to enlist ECHT on various Exchange platforms. It’s a necessary condition to let the users trade ECHT as soon as the ICO is over. 3) e-Chat messaging platform is very close to adopting Smart Contract technology and the development team takes the technical side very seriously. What is e-Chat and what makes it challenge the messaging world? • Confidentiality. Data is encrypted through the following technological combination: blockchain, peer-to-peer computing (P2P) and InterPlanetary File System (IPFS). • Security: Convenient key verification tools for end-to-end data encryption are used. • Protection against blocking. • Cross-platform compatibility. • Intuit user-friendly interface. • Free Benefits for ICO participants: 1) By supporting the project right now you get ECHT that could be later used on the platform. As the amount of e-Chat users will be increasing the growth in e-Chat tokens demand will become obvious. According to our expectations, this will cause the ECHT price rise as well. 2) ECHT is used to purchase lifetime storage on e-Chat. This way of token liquidation, in the long run, bears its fruit: the exchange rate will grow due to their limited amount of turnover. 3) e-Chat provides mining options for its users. This could also stimulate the interest to ECHT and influence the growth of its market price. Take your chance to buy e-Chat tokens with 5% Discount during the two additional weeks of ICO: February 16 – March 1, 2018. The price for 1 ECHT during this period is $1.425. To get more details about the e-Chat revolutionary messaging platform, please, visit the official website. There you can also find the information about the team and the advising board of e-Chat. Unit 25A, Wing Hing Commercial Building, 139 Wing Lok Street, Sheung Wan, Hong Kong +8 (528) 009-06441 – Hong Kong Contact Email Addressmarketing@echat.io Supporting Linkhttps://goo.gl/NJ7Mbo This is a paid press release. Readers should do their own due diligence before taking any actions related …
Source : Why e-Chat Messenger Attracts the Attention of Celebrities? As many people know, the decentralized messenger e-Chat conducts ICO and enters the market. The system is fully operational, as the application is already launched and is used by hundreds of thousands of people around the world, including well-known bloggers and stars such as Russian presidential candidate Ksenia Sobchak, singer Jasse Golden, traveler and blogger Jay Alvarrez and many others. How does e-Chat work? This is the world’s first decentralized messenger that provides maximum privacy to its users. As app’s supporters know, centralization is a risk due to control by any state structures. Only decentralized services are capable of truly resisting large structures, i.e., services that do not have a single vulnerable node, i.e. a place where information can be received and seized. e-Сhat works on the decentralized principle – a large network of distributed servers divides user traffic and load, and even if most of them are disabled, the messenger will continue to function. The blockchain based solution allows the messenger to provide effective protection against attacks, hacking, while ensuring complete anonymity. In this case, we can say with confidence that at the moment, e-Chat is much safer and more anonymous than any existing messengers. Recently, e-Chat has launched a vote among investors in order to determine the further development path of the project. This is the conduction of Ethereum hard fork, which will solve at once 3 objectives of the project: increase the transaction speed of the network; instant attraction of a large number of new users and developers to the platform; additional benefit for investors. However, such an alternative to the ERC20 token will be accepted by the team only in case of a significant advantage in the voting among investors. In addition, e-Chat is mentioned by such publication giants as Forbes, Huffington Post, Cointegrated, Inc., Reuters, Nasdaq, Yahoo, Bitcoin.com, CoinShedule, CryptoCompare, Finance Magazine, NewsBTC, CoinNewsAsia, BTC-ECHO, USA Today, BitScreener, MorningStar, Ethereum World News and dozens of others, which of course impacts the popularity of the application. Follow the news on the e-Chat official website! Unit 25A, Wing Hing Commercial Building, 139 Wing Lok Street, Sheung Wan, Hong Kong +8 (528) 009-06441 – Hong Konghttps://investors.echat.io Images courtesy of e-Chat The post Why e-Chat Messenger Attracts the Attention of Celebrities? appeared first on Bitcoinist.com.
Source : ETC Price Expected To Rise As Hard Fork Callisto (CLO) Take Place Next Week The development team of ETC announced the ethereum classic hard fork called Callisto (CLO) that will be available to the ETC holders in the ratio of 1:1 of CLO coins. Callisto will have an exact copy as of ETC chain but only until 5,50,000 blocks, that are expected to be launched approximately 5 March, 2018. Story behind hard forked Callisto (CLO) coins Ethereum classic is an ethereum hard fork that was not only the first one but also a high profile blockchain split. This hard fork was of 1,920,000 blocks that were distributed in the ratio of 1:1. The fork was the result of ethereum community’s rejection to take out an ETH application, DAO. Now, a snapshot fork called Callisto is going to be the latest one. Callisto is a blockchain technology that runs on ethereum classic protocol. The Callisto fork is not going to be like the ETH hard fork, rather would be similar to the bitcoin gold and bitcoin diamond. Callisto is going to be a new blockchain with its own native currency called CLO whose purpose is to test the experimental protocols, solve blockchain scaling problems and setting up a governance system. This Callisto Network Project will have an airdrop in the ratio of 1:1 that most likely will also result in a good surge in the ethereum prices. Free Callisto coins for ETC coin holders The CLO coin will have the same history as of the ETC chain but from the 5,500,000 block, the network will start creating its own. This fork is expected somewhere around March 5, 2018. The accounts with balances of ethereum classic at block 5,500,000 at the time of launch will receive 1 Callisto token (CLO) for every ETC they hold. Due to the reason that CLO developers believe there are certain issues with the smart contract design of ETC, there would be a snapshot of CLO. As per the whitepaper of CLO, because of the sustainability of ETC’s smart contract to hacks, the CLO developers are planning to create an official smart contract auditing department of CLO and ETC. The CLO white paper explains that: “The main goal of Callisto is to research and develop a reference implementation of self-sustaining, self-governed, self-funded blockchain ecosystem and development environment.” Will the hard fork affect ETC price? As for the exchanges where it will be listed, there is no official word on it yet. When it comes to the prices of ETC, this cryptocurrency has been stable than the others and it is expected that this fork will bring a good news for ethereum classic holders. What are your views on Callisto hardfork and what do you think will be its effect on the prices of ETC? Let us know your thoughts in the comment section below! The post ETC Price Expected To Rise As Hard Fork Callisto (CLO) Take Place Next Week appeared first on Coingape.
Source : Coinbase Rolls Out SegWit Support on GDAX This post was originally published on sourceAt long last, Coinbase’s popular US-based digital asset exchange GDAX now supports Segregated Witness (SegWit) transactions on the Bitcoin network. What is SegWit? SegWit — short for Segregated Witness — is an important soft fork upgrade to the Bitcoin network which makes transactions significantly more secure and efficient. When […] The post Coinbase Rolls Out SegWit Support on GDAX appeared first on The Bitcoin News – Leading Bitcoin and Cryptocurrency News since 2012.
Source : Walleting Services: Personal, Enterprise Bitcoin & Altcoin Wallet? Walleting Services, found online at Walleting.services, is a bitcoin and altcoin walleting service for individuals and enterprises. Find out how it works today in our review. What Is Walleting Services? Walleting Services is a cryptocurrency service that helps users and enterprises secure personal holdings, recover airdropped altcoins, and enjoy an enterprise-grade walleting system. The service works with you via voice, email, chat, and remote desktop to design a cryptocurrency storage strategy that meets your unique needs. The company will create a secure, easy to use, and easy to understand platform where users remain in control of their private keys. Walleting Services also has a product called “Super Wallet”, described as a “battle tested solution for high volume services such a cryptocurrency exchanges.” Overall, Walleting Services is best known for its automated forked coin extraction tool, available from 10% per wallet. That service launched online in November 2017 through a Bitcoin Talk forum thread. Since announcing their services, the company has expanded to offer forked coin recovery services for Bitcoin Diamond, Bitcoin Cash, Bitcoin Gold, and Super Bitcoin. Walleting Services Products And Pricing Walleting Services offers all of the following products and services: Personal Crypto Consulting: From $125 per hour Enterprise Crypto Consulting: Custom quotes available Forked Coin Extraction Service: From 10% per wallet (Bitcoin Gold, Bitcoin Diamond, Super Bitcoin, and Bitcoin Cash extractions available) Walleting Services is particularly popular for its forked coin extraction services. Those services allow you to safely recover forked coins – like Bitcoin Gold – that launched from existing coins you hold. On October 25, 2017, for example, all Bitcoin private key holders received Bitcoin Gold at a rate of 1:1. Walleting Services gives users a safe and secure way to claim their Bitcoin Gold. They offer identical service for Bitcoin Cash, which forked on August 1, 2017. After you contact Walleting Services for its manual extraction service and you’re satisfied, the company will delete all communications, wallet seeds, and addresses from its system. Extractions are done at 10%, with a negotiated fee for larger wallets. Walleting Services accepts PayPal, Venmo, and any cryptocurrency as payment methods. Walleting Services Conclusion Walleting Services is a forked coin extraction service that also offers crypto consulting. The service is available to enterprise users and individual investors. Today, Walleting Services, found online at Walleting.services, provides forked coin recovery services for Super Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, and others. Walleting Services also offers consulting services start at $125 per hour. You can contact the company to design a customized storage solution for your cryptocurrency needs, for example. To learn more the company and how they work, visit online today at Walleting.services. Or, email them at email@example.com.