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Bitcoin Cash [BCH] – Consensus vulnerability revealed by Cory Fields

Earlier today, in a Medium blog post, Cory Fields, a Bitcoin Developer from MIT Media Labs revealed his experience about discovering a critical Bitcoin Cash [BCH] vulnerability that could mean the end of BCH. In the past few hours, the post has spread like wildfire across all social medium platforms stirring up questions about responsible disclosure in open source projects. Cory had initially discovered the vulnerability in April 2018. He said: “On April 25, 2018, I anonymously and privately disclosed a critical vulnerability in Bitcoin Cash, one of the world’s most valuable cryptocurrencies — not to be confused with Bitcoin.” He further stated: “A successful exploit of this vulnerability could have been so disruptive that transacting Bitcoin Cash safely would no longer be possible, completely undermining the utility [and thus the value] of the currency itself.” However, the vulnerability that Fields discovered was successfully fixed and resulted in a zero impact on the cryptocurrency. The incident was publicly disclosed on May 7, 2018. Fields also clarified that the aforementioned vulnerability which has now been fixed had only posed a threat to Bitcoin Cash and not Bitcoin. The vulnerability referred by Fields as “SIGHASH_BUG” had the potential to result in a chain split which simply means that the bug had the ability to split the currency into two incompatible currencies, making it completely impossible for users to make transactions. Fields discovered the bug while rummaging through Bitcoin ABC’s change-logs. He stated: “After seeing the minimal review the changes had undergone and the large number of lines changed, I thought it reasonably likely that a bug might have slipped in, and so I went looking. It took less than 10 minutes to find SIGHASH_BUG.” He further stated that the revelation was not to demean Bitcoin Cash but was an eye-opener to all the companies and developers who are not well equipped for the situation. He also believes that a lot of work remains in order to reach a mature level of engineering that cryptocurrencies require. He concludes his post by appealing developers to come together and work as a community to re-think all the procedures and policies that are in place and to put available tools to best use and learn from situations like the above to be better prepared for the future. Vinny Lingham, the CEO of CivicKey tweeted: “This is a good read for everyone working in crypto. Responsible and ethical behavior by everyone in the community, regardless of ideological beliefs, should be applauded.” Vitalik Buterin, the Co-founder of Ethereum retweeted Vinny’s post and said: “Questions remain as to how this revelation will be taken forward and the countermeasures that the cryptocurrency world will adapt, to reduce incidents such as these.” The post Bitcoin Cash [BCH] – Consensus vulnerability revealed by Cory Fields appeared first on AMBCrypto.
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Bakkt Launches Futures Contracts, Bitcoin Price Falls

Bakkt, a subsidiary of New York Stock Exchange owner Intercontinental Exchange Inc (NYSE: ICE), launched its long-awaited physically backed Bitcoin futures Monday.  The first Bakkt/ICE futures contract changed hands at $10,115 and the number of contracts in the first hour stood at just five total, CoinDesk reported. It's widely belived in the ...Full story available on Benzinga.com
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Late Bloomer: Why Bakkt’s Slow Start Is No Surprise

Bakkt has finally opened its platform for physically-delivered Bitcoin futures, but the response has been underwhelming. Nearly a year after the owners of the New York Stock Exchange announced their foray into cryptocurrency, markets responded to the new institutional trading venue with another 1.8% price drop. First announced last August, the long-delayed launch “was an important step toward bringing trusted infrastructure to digital assets,” wrote CEO Kelly Loeffler. The physically-settled futures platform is expected to provide a crucial infrastructure for institutional trading in cryptocurrencies. But some pundits have expressed disappointment at today’s volumes. Four hours before the market closes, only $550,000 worth of BTC futures have exchanged hands. One well-known cryptocurrency analyst described volumes as “not great,” while CoinDesk said trading on Bakkt was off to a “slow start.”   Source: Bakkt   At face value, these low volumes might suggest that institutional investors aren’t very interested in cryptocurrencies. Based on today’s activity, Bakkt volumes are unlikely to rival the futures product from CME Group, which traded $470M in its first week. But there’s an important distinction. CME’s futures are all cash-settled, meaning that all the trading is done in fiat currencies. The underlying asset may be Bitcoin, but at no point does either side have to actually hold it. From a legal perspective, that makes CME futures much simpler for institutional investors, making them no different from a similar future in wheat, maize or gold. In contrast, Bakkt’s futures are all physically delivered, meaning that the underlying assets have to be transferred on a specified date. Institutional investors have to take custody of actual bitcoins, with a lot more hoops to jump. In order to regularly trade in Bakkt bitcoin futures, institutional investors will have to consult specialized legal counsel, acquire new insurance policies, and possibly update their investors, as well as find a custodian to for the digital asset. “[S]ome of [Bakkt’s] largest prospective clients still don’t have permission to trade physically-delivered futures contracts,” wrote analysts at BeQuant Exchange in a note. “As such, [the] build it and they will come mantra may not necessarily result in an influx of new, hot money, at least not right away.” It’s hard to know what the big institutional investors were thinking when Bakkt opened up shop for the first time. But, given the fact that the platform is dealing with a volatile asset class, which has a nebulous regulatory status, it’s no surprise that many high rollers are playing wait-and-see. If there’s one lesson to be learned from Bakkt’s trading today, it’s that the cryptocurrency space still has a tendency towards overblown expectations.  Institutional investors were never going to dive headfirst into an unfamiliar asset. A cautious start to Bakkt’s futures today is a good sign, indicating that the majority of investors are still playing it safe.   The post Late Bloomer: Why Bakkt’s Slow Start Is No Surprise appeared first on Crypto Briefing.
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Bakkt’s Bitcoin Futures Goes Live: Should You be Excited?

Over the past few years, the Bitcoin futures ecosystem has grown at a remarkable pace, and it is something that is surely going to stay for years to come. Initially, these futures contracts had been launched by a handful of exchanges, but over the past year or so, the number has increased considerably. Futures Trade In a development that will come as another massive boost to the Bitcoin and cryptocurrency ecosystem, the New York Stock Exchange’s owners, ICE, through its crypto exchange Bakkt has decided to launch futures contracts that will pay out traders in Bitcoins. ... ﾿ Read The Full Article On CryptoCurrencyNews.com Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges. All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.
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Tezos [XTZ] Jumps Over 4% Amids Binance Listing; CZ Hints Tezos Staking

Binance recently announced the listing of Tezos with pairs of Bitcoin(BTC), Tether(USDT) and Binance Coin(BNB).  Will Binance Enable Tezos Staking? As Per a recent tweet by Binance, it has listed Tezos and it can be paired with USDT, BTC, and BNB. Following the announcement, users can start depositing Tezos on their accounts, while the launch of trading is scheduled for the 24th of September. Source- Twitter CZ then further created hype by asking the community that did they not what was coming next. A user suggested that does the move imply Tezos staking. While CZ didn’t give a definite answer, he expressed his excitement with a “happy” emoji.  Source- Twitter The Tezos official website defines Tezos as,  “ Tezos is a self-amending blockchain that can evolve by upgrading itself, with stakeholders being able to vote on amendments to the protocol, including amendments to the voting procedure itself.” Binance. US Opens Doors for Cardano, Ethereum Classic and Stellar  Today, Binance.US opened deposits for Cardano (ADA), Basic Attention Token (BAT), Ethereum Classic (ETC), Stellar (XLM) and 0x (ZRX). Trading for these coins will begin on September 25, 2019, at 9:00 AM EST /6:00 AM PST. The announcement further mentions that the coins are temporarily only available for deposits and withdrawals will not be enabled until trading is live. Source- Twitter Also, Binance.US will commence trading on September 24, 2019 at 9:00am EST / 6:00am PST. The launch will see Binance.US list Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC), Binance Coin (BNB) and Tether (USDT). These coins will be available for trading across 13 fiat-to-crypto and crypto-to-crypto trading pairs.  Source- Twitter Binance Announces 6th Phase of Lending Products In yet another update, Binance announced its 6th phase of lending products. The launch will take place on the 25th of September. In the sixth phase of Binance’s lending initiative, users will be able to lend Binance Coin(BNB), Bitcoin(BTC), EOS, Ethereum Classic(ETC), Ethereum(ETH), ChainLink(LINK), Tether(USDT) and Ripple(XRP) to earn interests payable from Sep. 25 to Oct. 09.  Traders are in for huge benefit as Binance. US enables trading. Will Binance continue to keep the crypto community happy with its developments? Let us know, what you think? The post Tezos [XTZ] Jumps Over 4% Amids Binance Listing; CZ Hints Tezos Staking appeared first on Coingape.
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Nicholas Merten: Now Is the Time for Ravencoin, BAT and Chainlink

YouTube star Nicholas Merten is a fan of crypto, but like everyone else, he’s noticed the gradual downplay of bitcoin as of late. Once again, bitcoin has dropped below the $10,000 mark and is trading for just over $9,800. While this isn’t a major fall, the currency seems to have wavered between this mark and $10,200 over the past month. Merten: Altcoins Are Making a Comeback Merten isn’t concerned by this. In fact, he’s looking to use the situation to his advantage, and advises others to do the same. As the host of YouTube’s “Data Dash,” arguably one of the most popular cryptocurrency channels on the streaming and video site, Merten claims that there are three specific cryptocurrencies that are likely to shoot up now that bitcoin is wavering if people are looking to invest. Those cryptocurrencies are Basic Attention Token (BAT), Raven Coin (RVN), and Chain Link (LINK). In a recent interview, he states that these three tokens are likely to grow heavily over the next 12 months, explaining:  At the current moment, looking at [bitcoin] market dominance, it does look like we’re starting to enter into a trend shift where altcoins can start to gain as we retest back towards bitcoin’s high of $20,000. The last two [altcoin cycles] that we had were at the end of the overall bitcoin cycle where bitcoin reached $20,000. The first one happened at the beginning of 2017 when bitcoin retested its high at $1,100. For the most part, altcoins have had a relatively rough year in 2019. Bitcoin on the other hand, has experienced steady growth since April, doubling its price since then from $5,000 to about $10,000. While many have focused on bitcoin as of late, Merten says he’s starting to see funds travel into smaller, competing coins. He says:  As bitcoin does increase over time, as we tend to see a general growth in bitcoin’s price, we tend to see more risk taking in different types of digital assets. As more liquidity has entered bitcoin, you have the ability now, through exchanges, for that liquidity to exit into other alternative investments. Sometimes, that can be rampant speculation, and in other cases, it can be driven through fundamentals. I believe this time around, in this cycle, we’re going to see more going toward fundamental developed projects that actually have real demand.  Why These Three and Not Others? Chain Link is big in that it’s joined software company Oracle to help blockchains connect with outside networks. Raven Coin is significant because it allows developers to establish their own tokens, while BAT is moving forward in that it is attached to the Brave browser, which seeks to block advertisements and trackers from following one’s searches and online activity. Merten is confident BAT will be very important in the field of privacy. The post Nicholas Merten: Now Is the Time for Ravencoin, BAT and Chainlink appeared first on Live Bitcoin News.
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