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An Ethereum-based synthetic issuance platform lost over 37 million in synthetic ether. The Ethereum-based synthetic asset issuance platform Synthetix has lost over 37 million synthetic ETH (sETH) in an oracle attack, according to a report by The Block on June 24. While the amount of sETH in question is known to be over 37 million, the price of this loss in U.S. dollars is reportedly unknown due to its relative illiquidity on secondary markets. Synthetix allows users to mint and trade synthetic currencies peer-to-peer (P2P) on the Ethereum blockchain. One such synthetic currency is the token sETH, which apparently tracks the price of Ether using an oracle-backed price feed. Synthetix CEO Kain Warwick purportedly commented in the official Discord channel for Synthetix, saying: "There has been an incident with the price feed of sKRW, we are currently investigating the root cause, but during the time when the price feed was returning the wrong value we believe an automated arb bot conver..
Ethereum co-founder Joseph Lubin said that Facebook’s Libra is “like a centralized wolf in a decentralized sheep’s clothing.” Ethereum co-founder Joseph Lubin said that Facebook’s Libra token is like “a centralized wolf in a decentralized sheep’s clothing” in an article published on tech news outlet Quartz on June 21. The social media giant released the white paper for a its cryptocurrency dubbed Libra earlier this month to mixed reviews from experts in the cryptocurrency and blockchain industries and concern from government regulators. In his article, Lubin notes that Libra’s white paper describes feelings common among many in the cryptocurrency community. It states that “sending money across the globe should be as simple and inexpensive as sending a message on your phone,” and “financial infrastructure should be globally inclusive and governed as a public good.” While noting the white paper’s claim that “People will increasingly trust decentralized forms of governance,” Lubin pointe..
Microsoft, the Ethereum Foundation and Salesforce join Hyperledger as new members, seeking to create open-source enterprise blockchain solutions. United States tech giant Microsoft and the Ethereum Foundation are among the latest companies to join the ranks of the Hyperledger greenhouse hosted by the Linux Foundation. Many notable names in the tech and wider business fields today are developing enterprise-grade solutions based on the expanding set of tools built on Hyperledger. These institutional blockchain projects cut across both financial and nonfinancial distributed ledger technology (DLT) utilization. Presently, there are pilot projects geared toward identification systems, supply chain management (SCM) and provenance, to mention a few. On the whole, members of Hyperledger appear to be at the forefront of a renaissance in open-source project development, facilitating a more decentralized approach to project building. Such a trend evinces a return to a more decentralized internet..
Cryptocurrency News Today – If yo’ve been paying attention, you’ll know that the cryptocurrency market recently enjoyed a bull run. The flagship cryptocurrency, Bitcoin, surged above the $11,000 level dragging Ethereum and XRP along. However, apart from the two largest altcoins, other altcoins didn’t record any significant gains. This allowed the Bitcoin’s market share to surge to 59%. Members of the cryptocurrency market have been trying to determine the catalyst behind the crypto bull run. Different school of thoughts have come up with different reasons. However, our cryptocurrency news today is about what a Forbes contributor Billy Bambrough has to say about the cryptocurrency market bull run. Cryptocurrency News Today – Cryptocurrency Market Bull Run – Bitcoin Bull Run – Crypto Latest Update For the first time since March 2018, Bitcoin crossed the $10,000 mark in an epic parabolic bull run. As if this wasn’t enough, it surged above the $11,000 mark testing $11,200 before it starte..
Ethereum News Today – Ethereum has finally crossed the $300 level for the first time in ten months and this is just the beginning. The current bull run Ethereum is enjoying isn’t limited to Ethereum alone. Other cryptocurrencies starting with Bitcoin have been surging significantly against the USD. The flagship cryptocurrency has successfully moved above the $11k level with no bears in sight. Ethereum’s next target is $350 and then $400. Is the Ethereum price prediction 2019 going to remain bullish all year long or is this just a temporary thing? Ethereum Price Prediction 2019 – Ethereum News Today – Ethereum Latest Update – ETH/USD Price Analysis Ethereum is the world’s foremost decentralised computer and the ETH token is the largest altcoin per market capitalization. At its all-time high, the price of ETH surged as high as $1500. However, this was followed by the cryptocurrency winter which took ETH down as low as $82. Since it hit the cryptocurrency winter bottom, the price of ETH ..
Grayscale Investments announced that its latest security, Grayscale Ethereum Trust, is open for trading on OTC Markets. Grayscale’s Ethereum-based security, Grayscale Ethereum Trust (ETHE), is available for trading on OTC Markets, according to an official blog post from Grayscale Investments on June 20. According to the post, ETHE is “an open-ended trust that holds Ethereum.” As further noted, this is a means of investing in Ethereum without having to actually hold the cryptocurrency. This means that the “first U.S.-based publicly quoted security solely invested in and deriving value from the price of Ethereum is available.” Grayscale’s Director of Investments and Research Matt Beck commented on how investing in Ethereum can help investors build a profitable portfolio, saying: “Cryptocurrencies — such as Ethereum — offer exposure to a unique set of market opportunities and risks that are uncorrelated to traditional assets. As a result, they can further diversify modern portfolios, enh..
Ethereum Classic developers and contributors recently decided that the Atlantis hard fork will occur on block 8,772,000, estimated for September 17. The Atlantis hard fork for Ethereum Classic (ETC) has been officially set to occur at block 8,772,000 on the blockchain, according to the Ethereum Classic Improvement Protocol (ECIP) finalization call via Discord on June 20. As per the discussions in the call, the developers and contributors had previously considered putting the hard fork at block number 8.75 million, which is predicted to run on September 15. However, since the 15th is a Sunday, ETC Labs moved to increase the block number in order to have the projected update during the week, when more involved parties, such as exchanges and developers, are more likely be present to discover and deal with any issues that may arise. Since the release is still several months away, the block number is an imperfect estimate of date; nonetheless, the number has been moved up with the aim of t..
Ethereum’s first stage of transition from a PoW to a PoS consensus is planned to take place on Bitcoin’s 11th genesis block anniversary. The first stage of the Ethereum network’s transition to Ethereum 2.0 is expected to take place on January 3, 2020, as said in a bi-weekly call of Ethereum core developers on June 13. During the call, Ethereum researcher Justin Drake said that the dev team is working on code specifications for phase zero, confirming that codes are still expected to be released on June 30. Phase zero is the name of the first transition stage of the Ethereum network from a proof-of-work to a proof-of-stake consensus algorithm, which would pass block validation function from miners to special network validators. As mentioned by Drake in the recent call, phase zero is expected launch on Jan. 3, the day when the first block of the Bitcoin blockchain was created ten years ago. The researcher stated: “We still have quite a bit of time before the end of 2019, so I think looki..
Web server security service firm Cloudflare announced the launch of its Ethereum gateway. Web server security service firm Cloudflare announced the launch of its Ethereum gateway in a blog post on June 19. Per the announcement, the gateway — which is part of the company's broader Distributed Web Gateway toolset — lets users “interact with the Ethereum network without installing any additional software.” The system purportedly allows one to access the network and interact with smart contracts through a custom hostname. Furthermore, the new tool can be used in combination with the firm’s Interplanetary File System (IPFS) gateway launched in September 2018: “In conjunction with the IPFS gateway, this allows hosting websites and resources in a decentralized manner.” Cloudflare also notes that while its gateway is centralized, it makes the number of companies offering such services greater, thus increasing the overall reliability of the ecosystem. The company noted that it supports te..
Ethereum-based decentralized video streaming startup Livepeer announced that it raised $8 million from institutional investors. Ethereum (ETH)-based decentralized video streaming startup Livepeer announced that it raised $8 million from institutional investors in its Series A funding round in a Medium post published on June 17. Per the announcement, the startup will use the newly acquired resources to support the further development of the Livepeer protocol, network, software and ecosystem to further adoption. The round was reportedly led by venture capital firm Northzone, which was also one of the first investors in Spotify. Other participants in the round purportedly include Digital Currency Group, Libertus, Collaborative Fund, Notation Capital, Compound, North Island, Coinfund, Haivision and StakeZero. Furthermore, according to the post David Mendels, the former CEO of online video platform Brightcove, has also joined the company in an active advisor role. The company also claims t..