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Ethereum [ETH] Constantinople hard fork could take place in the next 2 to 6 weeks

Earlier this week, the Ethereum Foundation announced that the key stakeholders of the community have decided to postpone the Constantinople hard fork because of the discovery of a security attack of the smart contracts after the hard fork. This announcement was made hours before the network upgrade, resulting in the Parity and Geth team releasing an emergency upgrade to avoid revert the upgrade. The foundation stated that all node operators, miners, and exchanges were required to upgrade to the new version or downgrade to the previous version. This announcement was rather an unexpected one by the community as the Rinkeby Testnet, which took place on January 9, 2019, was stated to be successful, unlike the Ropsten Testnet, which resulted in a three-way fork. This time, the vulnerability was detected by ChainSecurity, wherein the team revealed that the smart contracts are vulnerable only after the Constantinople hard fork and not before. The upgrade of the network would enable Reentrancy attack, which is currently not possible because of the high gas limit. However, it would be possible after the upgrade because EIP 1283 proposes the reduction of gas required for SStore operations. The delay in the fork has also resulted in some of the members of the community appreciating the quick measure taken by the Foundation members to avoid the fork within a short-span, whereas others were either unhappy about the fact that the team took notice of the vulnerability hours before the upgrade or concluded that the community was centralized. To add on, if it weren’t for the Reentrancy attack, the upgrade would have taken place earlier today on block #7080000. At present, the details pertaining to the next schedule of the hard fork and the block it would occur on would be decided during the next Ethereum dev core meeting, which would be taking place towards the end of the week. There is speculation related to the hard fork doing its rounds in the market. Some in the community believe that the hard fork would be taking place on January 21, 2019, on Monday. However, one of the core developers of Ethereum, Afro Schoedon has stated that the next hard fork would take much longer time. He said on Twitter: “It’s not happening on Monday. I don’t know who was seeding this. It’s more like 2-6 weeks.” The post Ethereum [ETH] Constantinople hard fork could take place in the next 2 to 6 weeks appeared first on AMBCrypto.

Crypto Report: Bitcoin in Demand, Update on XRP, Ethereum, Litecoin and Tron

Latest updates on cryptocurrency prices and what’s happening in the world of crypto. Bitcoin/USD At the time of writing, Bitcoin has been trading at $3,630 while being down by 1.15% in the past 24-hours. The dip in price means Bitcoin price volatility has crashed in the last 12 months as the ongoing bear market kills the speculative activities. Bitcoin 24-hours price chart, Source: TradingView Meanwhile, Eric Thies, a cryptocurrency technical analyst says, “Similar to 2015, 2019 may be the year of accumulation.” The leading cryptocurrency is seeing huge demand as the newly launched Binance exchange that offers fiat-to-crypto trading pairs got a backlog of KYC verifications for registration as it received an overwhelming response. Ethereum/USD Ethereum is currently trading at $122 with 24-hours loss of close to 3 percent. This week the scheduled Constantinople hard fork got delayed due to the vulnerability found in EIP 1283. For now, the upgrade is not happening this week and would be decided in a meeting to be held on later this week. Meanwhile, 10335 users have upgraded their Parity Ethereum nodes. Ethereum 24-hours price chart, Source: Coinmarketcap XRP/USD Recently, Ripple CTO, David Schwartz took to Twitter to address the rumours of the alleged takeover of the XRP Ledger, “This is amusing. A hostile takeover of the XRP Ledger is not technically possible nor does this plan make economic sense.” The second largest cryptocurrency has been trading at $0.3273 with 24-hours loss of 1.75% at press time. Adding clients to its growing list, one of xRapid client Mercury FX founder, Alastair Constance praised XRP with, “Using XRP to move your money faster and cheaper is a no-brainer.” XRP 24-hours price chart, Source: Coinmarketcap Litecoin/USD Currently registering over 3 percent loss, Litecoin is sitting at $32. Recently, Ben Askren, former Olympic Wrestler who is making his UFC debut gave a shout out to Litecoin, “Pumped for @LTCFoundation to sponsor me for UFC 235!” Meanwhile, Lite.IM launched Litecoin purchasing on Facebook Messenger, Telegram and SMS. LTC 24-hours price chart, Source: Coinmarketcap Tron/USD The 10th largest cryptocurrency by market cap started this year on a positive note with listings on OKCoin and ABCC exchange along with a surge in Dapp activity on its network. Now, Tron Foundation is counting down the hours to launch its niTROn-2019 TRON Summit. This two-day summit “offers attendees the chance to understand what has happened and learn what’s to come as blockchain levels the online playing field and creates new opportunities for entrepreneurs and investors.” Meanwhile, at price front, Tron is trading with the 24-hours loss of 2.17 percent at $0.0244. TRX 24-hours price chart, Source: Coinmarketcap The post Crypto Report: Bitcoin in Demand, Update on XRP, Ethereum, Litecoin and Tron appeared first on Coingape.

Ethereum [ETH] Constantinople: 10335 users upgraded their Parity Ethereum nodes, says core developer

The whole cryptocurrency community has been waiting for the Constantinople hard fork since 2017. Recently, the team announced that the update has been postponed for the second time. This is because of a potential attack that can take place after the hard fork occurs. The vulnerability was pointed out by ChainSecurity, an audit platform for smart contracts, as a part of the Ethereum bug bounty program. The team found that the update enables new Reentrancy Attack. The key factor is that the smart contracts are not vulnerable to the attack before the hard fork but only after the attack. This was because of one of the Ethereum Improvement Protocols‘, which proposes Net gas metering for SStore without dirty maps. Soon after the news broke, the Parity team and the Geth team released a new emergency version and asked all the node operators to updated to the new version immediately. The emergency version released by the Parity team is Parity Ethereum 2.2.7 – stable and Parity Ethereum 2.3.0 – beta. The emergency version released by Geth team is Byzantium Revert v1.8.21. This update, according to the initial announcement by Ethereum Foundation, is required to be done by miner, exchanges and node operator. They also stated that people only interacting with the Ethereum need not do anything including Ledger, Trezor, MyEtherWallet, MyCrypto, and Parity Signer. Afri Schoedon said on Twitter: “There are 3783 Ethereum nodes visible to the devp2p scraper, 70.53% already cancelled Constantinople. – Geth 1680/2553 (65.80%) – Parity 988/1230 (80.33%)” He further added: “In the last 12 hours, 10335 users upgraded their Parity Ethereum nodes to 2.2.7 stable (76%) or 2.3.0 beta (24%). Most of them use GNU/Linux (95%), some Windows (4%), and a few MacOS (1%). Andreas M Anthonopolous, a Bitcoin proponent and author of Mastering Bitcoin, also commented on the interesting turn of events. He said: “Ethereum Constantinople hard fork postponed because of security issue – all node operators need to upgrade node software TODAY to prevent being forked out of consensus” Peter Szilagyi, another core developer of Ethereum said earlier today: “I’m actually quite pleasantly surprised how smoothly this emergency action went down. Was really nice to see so many stepping up to help with whatever they could! Congrats #Ethereum community!” The post Ethereum [ETH] Constantinople: 10335 users upgraded their Parity Ethereum nodes, says core developer appeared first on AMBCrypto.

Scaling Delay: Ethereum Developer Expects Constantinople Weeks Away

Constantinople is not broken, but it definitely seems to need maintainance. Yesterday the Ethereum Foundation revealed that the planned upgrade was not yet ready for the road, commencing emergency repairs on a software fork that many traders expected to turn the tide in the crypto market. Instead, the announcement put all of crypto in a bad mood. Green candles turned red as the markets reacted to news of yet another delay to scaling the network. Ethereum developers are planning to discuss the new plan on a call scheduled for Friday. Afri Schoedon, an Ethereum developer at client Parity Technologies, hazarded that it may take over a month before Constantinople is ready to deploy. “I think 4 weeks [plus or minus two] is realistic,” he said in a Reddit post. If his guess is accurate, that could mean Constantinople arrives as late as the end of February. What Went Wrong The Constantinople upgrade was scheduled for block 7,080,000, which was projected for sometime on January 16th. Instead, a security alert by ChainSecurity threw a wrench into those plans. The security firm discovered a previously-unnoticed vulnerability that could threaten “cheaper gas cost for certain SSTORE operations.” One possible side effect of the bug could allow a reentrancy attack in smart contracts using Ethereum’s programming language, Solidity. The Ethereum Foundation’s Hudson Jameson remained in good spirits, referring to the setback as “ConstantiNOPEle” on Twitter. Jameson published a blog post explaining that “key stakeholders around the Ethereum community have determined that the best course of action will be to delay the planned Constantinople fork.” This was done out of an “abundance of caution,” giving the dev team the required time to assess the risk of the vulnerability. Given the long runway that the Ethereum Foundation provided for the planned upgrade, many are wondering what took them so long to discover the issue. But discovering the problem late is better than never, and a flawed upgrade could open the network to a repeat of the DAO hack. Mixed Bag Many in the crypto community showed their support. Patrick Gallagher, who builds web 3/Ethereum dev tools at, reminded us: “Gotta break a few eggs to make an omelet. Core devs are humans too.”   But critics suggest that the delay could be a symptom of bigger problems for the largest dApp platform. Richard Red, a developer who contributes to research and strategy to Decred, says this could indicate that Ethereum is too centralized. Red told Crypto Briefing: The Ethereum Constantinople hard fork and its delay highlight the degree to which Ethereum relies on its lead developers to make good decisions on behalf of users and the problems with adapting something that is already very complex to scale. The Ethereum developers make an effort to hear from stakeholders and discuss issues publicly — for example, in long and rambling video conference calls — but ultimately the decisions are made in private conversations between key people. [Our emphasis] While users still choose which software to run, ultimately the only real choice is whether to “take or leave” the directions that the Foundation provides, Red says. Red went on to suggest that as a result of the “significant challenges Ethereum faces,” along with an “informal approach to governance,” another ETC-like fork could be in the cards. Centralized or not, these last-minute repairs add another delay for Ethereum, on a road which is already potholed and hazardous enough. It’s also a bumpy start to the year for the crypto market at large, but at least the regulated crypto futures exchange Bakkt is launching on schedule. Oh, wait…   The author is invested in digital assets, but none mentioned in this article.   Join the conversation on Telegram and Twitter!   The post Scaling Delay: Ethereum Developer Expects Constantinople Weeks Away appeared first on Crypto Briefing.

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: The Market Refuses To Fall And Configures A Blow To The Top

Constantinople's arrival is delayed due to security breaches. Possible increases in the short term seem to value the news positively. Very powerful upward structures are suggested. ​​​​​​As if we were on a permanent "Groundhog Day," we are dawning today at the same levels that we have intermittently frequented since mid-December. Monday's "Bump" failed to secure the advances and went back yesterday to the first available support. That's what it looks like, but looking closely at the indicators we can see that today can be a special day. Today is a day in which the market has before it an optimal scenario for a new bullish start, although equally optimal to cancel the advances and withdraw in search of a new accumulation zone deep enough in the price scale so that the offer is exhausted. The Ethereum development community has announced early in the morning that Constantinople, the expected update of the Ethereum network in detecting vulnerabilities has been delayed. As we read in the blog of Out of an abundance of caution, key stakeholders around the Ethereum community have determined that the best course of action will be to delay the planned Constantinople fork that would have occurred at block 7,080,000 on January 16, 2019. This will require anyone running a node (node operators, exchanges, miners, wallet services, etc...) to update to a new version of Geth or Parity before block 7,080,000. Block 7,080,000 will occur in approximately 32 hours from the time of this publishing or at approximately January 16, 8:00 pm PT / January 16, 11:00 pm ET / January 17, 4:00 am GMT. ETH/BTC Daily Chart The ETH/BTC, a leading indicator of market mood, continues its bullish trend, although playing ...Full story available on

Software Updates Released by Major Ethereum Clients as Constantinople is Delayed

The system-wide upgrade for Ethereum, Constantinople, has been in the world for a while now. However, in an annoucement on Tuesday, it appears that the upgrade has been delayed, but that did not stop major Ethereum clients from releasing software updates. The decision to delay was made during a developer call, which came after a security vulnerability was discovered in the Ethereum Improvement Proposal (EIP) 1283, which is a change that has already planned that included Constantinople. The vulnerability was discovered by Chain Security, a blockchain audit firm. If this vulnerability had the chance to be exploited, then this bug would have made “reentrance attacks” possible, as malicious actors work to pull funds out of these sources, time and time again. There is another call scheduled for this week, which will determine a new activation block that is meant to go with the Constantinople upgrade. However, to keep the fork at bay, the developers have already suggested the publishing of new versions. The Ethereum software clients acted quickly. Geth, for example, released an emergency hotfix (version 1.8.21). This implementation is meant to delay the upgrade, though the consumers that do not want to downgrade can continue with the current version, according to developer Péter Szilágyi. Parity clients have the option to upgrade to the stable release or the beta release. Otherwise, they will need to downgrade to the 2.2.4 beta release. The head of security for Parity technologies, Kirill Pimenov, recommended that users take the path of the newly released upgrade, rather than moving down to an older version. Elaborating, Pimenov said, “I want to restate – downgrading Parity to pre-Constantinople versions is a bad idea, we don’t recommend that to anyone. Theoretically, it should even work, but we do not want to deal with that mess.” Afri Schoedon, the release manager with Parity, recommends the 2.2.7 upgrade, though the others should still be effective. Core developer Hudson Jameson wrote a blog post that suggested that those who do not participate in the network in some way, such as running nodes, omit from the updating all together. Smart contract owners can remain as they are as well, though “you may choose to examine the analysis of the potential vulnerability and check your contracts.” Presently, the Chain Security researchers that found the bug are taking the time to analyze the entire blockchain, in collaboration with TrailOfBits. Right now, the change that could cause all of the above problems will not be enabled. As far as live contracts go, there have been no vulnerabilities found. However, “there is still a non-zero risk that some contracts could be affected, according to Jameson. To protect transfers from the risk of being attacked upon reentry, gas is paid to prevent the repurposing of a transfer, which would allow for theft. As Hubert Ritzdorf explained, an unfortunate “side effect” is that the EIP 1283 will allow attackers to leverage the gas for their own malicious intent. He added, “The difference is before you couldn’t do something malicious with this little bit of gas, you could do something useful, but not something malicious and now because some of the operations became cheaper, now you can do something malicious with this little bit of gas.” Smart contract developers will still be concerned about the risk of reentrancy on Solidity. That is why the COO of Chain Security, Matthias Egli, said that the core developers that solely focused on the virtual machine’s mechanics still would not have seen the vulnerability obviously. Speaking to CoinDesk, Egli added, “It’s a Solidity thing, it’s not an [Ethereum virtual machine] core thing that in practice allowed this attack. That was part of this disconnect that in practice small changes to gas cost will allow new kind of attacks which wasn’t considered before.” Fixing this issue is not just a simple change in gas costs, according to Ritzdorf. Elaborating, he noted, “If we change this amount to a small number now then we would fix the vulnerability, but we would also break many existing [smart] contracts.” For now, delaying Constantinople is the best decision that can be made by developers, based on the opinion and experience of Egli. He argued, “It was the right decision because it at least buys some time for researchers to evaluate the real-world impact. With high likelihood, this [EIP] will be taken back and not included in the upcoming hard fork which is now delayed by perhaps a month.” Right now, developers are working to get in touch with any group or platform that uses the Ethereum network to some capacity. In the next call, which is only days away, the core developers will work on a long-term plan for Constantinople’s watch. To protect the blockchain from future bugs attacking, there have been many developers in support of a bug bounty program that focuses on the analyzation of the code.
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Stellar Price Analysis: Grayscale Announces XLM Based Trust; XLM/USD Stuck Within Bearish Structure

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Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust

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Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project

CoinSpeaker Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project Until now, everybody has been talking about Bitcoin, the most popular and widely used digital currency. However, Bitcoin is unable to process thousands of transactions a second. Researchers from the Massachusetts Institute of Technology (MIT), UC-Berkeley, Stanford University, Carnegie Mellon University, University of Southern California, and the University of Washington have decided to fix such a weakness and develop a crypto asset better than Bitcoin. The researchers are working together as Distributed Technology Research (DTR), a non-profit organization based in Switzerland and backed by hedge fund Pantera Capital. The first initiative of Distributed Technology Research is the Unit-e, a virtual coin that is expected to solve bitcoin’s scalability issues while holding true to a decentralized model and process transactions faster than even Visa or Mastercard. Babak Dastmaltschi, Chairman of the DTR Foundation Council, said: “The blockchain and digital currency markets are at an interesting crossroads, reminiscent of the inflection points reached when industries such as telecom and the internet were coming of age. These are transformative times. We are nearing the point where every person in the world is connected together. Advancements in distributed technologies will enable open networks, avoiding the need for centralized authorities. DTR was formed with the goal of enabling and supporting this revolution, and it is in this vein that we unveil Unit-e.” According to the press release, Unit-e will be able to process 10,000 transactions per second. That’s worlds away from the current average of between 3.3 and 7 transactions per second for Bitcoin and 10 to 30 transactions for Ethereum. Joey Krug, a member of the DTR Foundation Council and Co-Chief Investment Officer at Pantera Capital, believes that a lack of scalability is holding back cryptocurrency mass adoption. He said: “We are on the cusp of something where if this doesn’t scale relatively soon, it may be relegated to ideas that were nice but didn’t work in practice: more like 3D printing than the internet.” The project’s ideology is firmly rooted in transparency, with a belief in open-source, decentralized software developed in the public interest with inclusive decision-making. The core team of the project is based in Berlin. To solve the scalability problem, DTR has decided to develop the Unit-e with parameters very close to Bitcoin’s design, but many things will be improved. Gulia Fanti, DTR lead researcher and Assistant Professor of Electrical and Computer Engineering at Carnegie Mellon University, commented: “In the 10 years since Bitcoin first emerged, blockchains have developed from a novel idea to a field of academic research. Our approach is to first understand fundamental limits on blockchain performance, then to develop solutions that operate as close to these limits as possible, with results that are provable within a rigorous theoretical framework.” The launch of the Unit-e is planned for the second half of 2019. Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project

BitPay CEO Says Bitcoin Is Solving Real Problems Around the World

BitPay co-founder and CEO, Stephen Pair, has recently commented that Bitcoin (BTC) is solving several issues around the world. He said that in a press release uploaded a […] The post BitPay CEO Says Bitcoin Is Solving Real Problems Around the World appeared first on UseTheBitcoin.
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