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The Ethereum’s fork upgrade has just been delayed after a critical vulnerability was discovered in one of the planned changes.
It was discovered that if implemented in the current form it could provide attackers a loophole in the code to steal user funds. A delay to the hard fork was agreed while they assessed the issue.
The problem a "reentrancy attack" would be similar to one of the vulnerabilities found in the now-infamous DAO attack of 2016.
We will have to wait longer for the Constantinople Fork
The fork is expected to activate Wednesday, Jan. 16.
Constantinople is a type of upgrade known as a hard fork – which means it needs to be installed across all nodes in the network to function as intended.
There are risks. If all users do not agree with an upgrade, it could cause the network to split(not likely in this case). Such an event took place in 2016 when a controversial hard fork following the collapse of the DAO led to the emergence of two distinct blockchains, ethereum and ethereum classic.
The ethereum fork is designed to solve the “difficulty-bomb,” an algorithm in ethereum’s codebase that increases mining difficulty over time. Because the upgrade will decrease the mining difficulty, it also takes steps to reduce the reward miners are given for securing the network – down from 3 ETH to 2 ETH per block.
No need to do anything if you own Ethereum. Just hold on and it will become clear on the 17th January. Likely you will barely know it happened.
HSBC, one of the largest banks in the world, announced Monday it had settled more than $250 billion in transactions using distributed ledger technology (DLT).
The bank said in a press release that it settled 3 million foreign exchange (FX) transactions and made a further 150,000 payments using its HSBC FX Everywhere platform. The company said it has been using this platform for the last year “to orchestrate payments across HSBC’s internal balance sheets.”
Several tobacco shops in Paris, France, have started selling Bitcoin (BTC) for fiat despite regulatory uncertainty,
The world’s largest cryptocurrency can now be purchased at a an increasing number of tobacco shops throughout Paris.
Reportedly, customers can purchase Bitcoin for the sums of 50, 100 or 250 euros. The tobacco shop then provides a ticket with an alphanumeric code and a QR code, which can then be used to obtain the purchased bitcoins.
When a price is forming a bottom, it is usually volatile as both the bulls and the bears are trying to gain the upper hand. In a bear market, any negative news is met with strong selling and that is what has happened last week.
The 51 percent attack on Ethereum Classic has spooked the sentiment and dragged the prices lower.
The fall shows that sentiment is still fragile,
A decent rebound from the current levels would indicate that there is demand on the dips which is a bullish sign.
However, if the cryptocurrencies instead plummet to new lows, it would be a bearish sign. So far they are holding steady.
What will staking ETH look like and how will users participate?
The next big step after Constantinople is the Casper upgrade, when ETH token holders will be able to stake coins. Instead of mining blocks, network participants will be rewarded for running a node and holding ETH for a fixed period.
[note: you get rewarded for holding Dacxi DAC coin too!]
Stakers will be chosen randomly from a large pool of token holders, earning rewards that are proportional to the number of ETH they hold.
With one week to go, we have seen some push to break the $4000 level for BTC and ETH is now trading at around$120.
Nice to see some price increases at last. Great that it is happening as we get to year end.
The question is where to in 2019?
We are likely to enter 2019 at these same levels and then quarter one will be choppy with slight upside and hopefully, this will start to build some confidence in upward price action.
Much of the bad news and uncertainty created in 2018 will take a while to forget so caution will be the common theme in the first half. as the upward price action is confirmed we will see some decent gains being made.
Position yourself into BTC and ETH to take advantage of this.
This is my opinion only. Trade safe and have a great festive season
"One year after Bitcoin (BTC) broke crypto industry records to hit $20,000, a partner at venture capital firm Blockchain Capital says that today’s bearish market represents “a fantastic buying opportunity.” Spencer Bogart made his remarks during an interview on CNBC’s Fast Money show Dec. 17."
People who paid 20k are now hurting.
Price is 3500 now. in one year we will all reflect on the price today.
My guess is that if you buy BTC now you will be very happy in one years time....