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An article appeared on the BitMEX blog this week comparing competition to the Bitcoin Core software project. It concluded that, even if the Bitcoin Core repository were hijacked or deleted, Bitcoin should remain largely unaffected.
BitMEX initially considered three different ways to compete with the Core project prior to examining at arguments for and against them. The types of competing projects fall into the following categories:
Competition between chains: A competing project which deliberately changes the consensus rules to the current implementation. Both soft and hard forks fall into this category, and the potential risk is that this could split the coin into two chains. Although, of course, this could be the intention.
The research arm of cryptocurrency trading platform BitMEX has announced that it will launch its own Bitcoin software client to compete with reference implementation and industry standard Bitcoin Core. Unveiled this week in a lengthy post discussing the merits of competing software clients, BitMEX Research said that it chose to release its own BTC client
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Bitcoin Core developer Jimmy Song has caused controversy by suggesting that bitcoin enthusiasts would be better off using credit cards as a means of payment. He described this strategy as being “more rational and convenient” than making multiple onchain transactions. His advice flies in the face of the rationale behind Bitcoin and has provoked a strong response.
A newly-patched vulnerability in Bitcoin Core was far more severe than initially revealed, developers disclosed in an updated statement on Thursday. Bitcoin Vulnerability More Serious Than Earlier Announced The statement, posted on the website for the open source project, revealed that Bitcoin Core versions 0.16.3 and 0.170rc4 not only patch a denial-of-service (DoS) bug but
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Not much is happening across the cryptocurrency industry as of right now. Most currencies are seemingly stuck in a bit of sideways trading momentum, which can mean one of two things. In the case of the EOS price, it seems things are heading in the right direction, courtesy of a small gain over the past 24 hours.
EOS Price Surpasses $ 5.2
It is interesting to see how the EOS price is evolving over these past few hours. Although there does not appear to be much momentum to push the value much higher, its trading volume is increasing rapidly. Thanks to $ 625m in volume, the EOS price has surpassed $ 5.2 once again. This is an interesting trend, albeit it remains to be seen how long this will last.
Keeping a cryptocurrency safe and secure from harm is a full time responsibility. Even in the case of Bitcoin, new flaws can be discovered after nearly 10 years of ongoing development. One such issue has been disclosed earlier this week, as it caused a denial-of-service issue with Bitcoin Core 0.16.2.
The Bitcoin Core DoS Issue
In the world of cryptocurrency, denial-of-service incidents are rather uncommon. Although it is possible to completely cripple smaller-cap blockchain projects with some effort, one would not necessarily expect such issues to present themselves where top currencies are concerned. In the case of Bitcoin, it seems such a vulnerability has been present for quite some time now.
Over the last 24 hours, the cryptocurrency community has been discussing a critical vulnerability that was found in the Bitcoin Core (BTC) reference client. A bug introduced in Bitcoin Core version 0.14, that also affects all subsequent versions, could have caused a great majority of current Core nodes to crash. According to the developer’s Optech newsletter, Core contributors released a patch that fixes Core version 0.16.2 and the latest 0.16.3 fix requires an immediate upgrade.
Bitcoin developers released a new version of the Bitcoin Core client September 18 after fixing a “very scary” bug which could have seen a malicious party take many nodes offline.
Upgrade ‘As Soon As Possible’
In release notes for Bitcoin Core version 0.16.3, Wladimir van der Laan confirmed the vulnerability, known as CVE-2018-17144, had received an effective patch. The Bitcoin Core client remains the most popular comprising over 94% of all Bitcoin software implementations today.
“A denial-of-service vulnerability… exploitable by miners has been discovered in Bitcoin Core versions 0.14.0 up to 0.16.2,” he summarized.
The core developers of the Ethereum (ETH) project revealed Friday that they plan to delay the upcoming “Difficulty Bomb,” which would promote the transition from the blockchain’s Proof-of-Work (PoW) consensus algorithm to Proof-of-Stake (PoS). In the recent YouTube meeting, the team confirmed that it has accepted the EIP-1234 scenario to delay the Difficulty Bomb 12 months and […]
“The virus is spreading,” tweeted Morgan Creek Digital’s Founder & Partner Anthony Pompliano at the news Yahoo! Finance (YF) had integrated bitcoin core (BTC), ethereum (ETH), and litecoin (LTC) into their trading platform. He was one of many enthusiasts to insist the event was an important step in the quest for mass cryptocurrency adoption.
Bitcoin Cash vs Bitcoin Core seems to have taken a new direction. No longer are the Bitcoin Cash team focusing on wiping out Bitcoin Core, they now seem to be fighting amongst themselves, this time within two mercenary groups, Bitcoin SV and Bitcoin ABC. It’s a mutiny, a civil war and it could lead to some big changes in the way Bitcoin Cash is managed any maintained.
So what’s happening?
According to Coindesk:
“Bitcoin Cash stakeholders seemed unified in their goal of boosting the cryptocurrency’s block size parameter in the hopes of attracting more users and enabling more transactions.
Lisk Core 1.0 is set to be released onto the Lisk mainnet at block height 6,901,027, which is expected to arrive on the 29th of August 2018. This is as a result of some great work by the Lisk team, which has included a recent sidechain ICO and the development of new products from the Lisk project, including Lisk Elements, Lisk Ascend and Lisk Hub.
Lisk Core is a key part of the Lisk protocol and will help bring the decentralised network of Lisk to the fore.
Cryptocurrency industry and community figures are reacting after it emerged a Bitcoin Core developer fixed a “critical” bug in the code for the Bitcoin Cash hard fork.
Fields: Bug ‘Would Have Split’ Chain
In a blog post August 10th, Corey Fields relates how in April 2018 he anonymously reported the consensus bug, known as SIGHASH_BUG.
A so-called ‘chain-splitting’ bug, the vulnerability “would have allowed a specially crafted transaction to split the Bitcoin Cash blockchain into two incompatible chains,” Fields reveals.
About four days ago news.Bitcoin.com reported on a dispute concerning the removal of the owner of Bitcoin.org, an anonymous figure known as ‘Cobra.’ At the time a Github contributor opened an issue on the website’s repository, saying that Cobra had become untrustworthy for showing support towards the Bitcoin Cash (BCH) network. Then the CEO of Blockstream and a large swarm of Bitcoin Core supporters insisted the domain should be handed over to someone else. Since then the maintainers of the BTC repository also removed all of the associated links to Bitcoin.org from the Core client’s website.
Here is the remaining interview that was not published by coindesk.
– Who’s a part of the team?
The team is a diverse collection of Bitcoin developers, contributors and enthusiasts. A federation of soverign individuals who are coming together to further the vision of a decenetralized trust network.
– How did this idea come about?
The idea for Bitcoin Core ($ BTCC) had its inception in the days leading up to the original hardfork of BCH and the 2X fork. At its roots, are many of the same values and passions and people involved in the UASF movement.
Fees on the bitcoin core network have reached their lowest in seven years, with the median cost of sending BTC currently standing at $ 0.11. While there are several reasons why BTC fees are low, one of them is obvious: less people are using the network. The number of daily transactions has dropped sharply since last year, and has declined further in the past month.
A group of developers have embraced the Bitcoin Core monicker perpetuated by Bitcoin Cash’s Roger Ver and have launched a cryptocurrency under the same name calling it the real open source, peer-to-peer electronic cash.
Bitcoin Core Becomes a Thing
When Bitcoin Cash was first hard-forked back in November 2017, it resulted in two coins: Bitcoin Cash and the short-lived ‘Bitcoin Clashic.’ The latter being the legacy, albeit tongue-n-cheek, chain that did manage to mine a few blocks at the time.
Bitcoin Core developer Johnathan Corgan has joined Jimmy Song in criticizing the seeming lack of Bitcoin focus at this week’s Consensus 2018 conference.
Corgan: Blockchain ‘Bashing’ Bitcoin
In a long series of tweets summarizing the event, which ends May 16, Corgan highlighted what he described as “cargo-cult engineering” taking preference among speakers.
“It’s like all the popular kids (Blockchain) are publicly bashing the geeks and nerds (Bitcoin) while privately trying to copy their homework,” he wrote Tuesday.
Educator Jimmy Song had been first to publicly pan some aspects of Consensus, saying during a panel with a JPMorgan executive that Bitcoin was “the real innovation here.”
The following opinion piece was written by Jonald Fyookball.
In parts 1 and 2 of How Bitcoin Cash …, we uncovered the important principles of community education and clarity. Now it is time to turn our attention to one of the most obvious things that went wrong in BTC — the centralization of protocol development.
How Bitcoin Cash Can Avoid Centralization
Decentralization comes in many forms: decentralization of nodes, mining pools, wealth, and so on. One thing that was overlooked for a long time in Bitcoin BTC was that while many things were well distributed, there was only one main group of developers (Bitcoin Core).