[Ethereum Blockchain] The Ethereum Blockchain suffered an unexpected hard fork
Following reports of power outages and violations by infrastructure providers Infura and Blockchair, today's Ethereum (ETH) network appears to have suffered an unexpected hard fork.
Ethereum split for a moment
Due to a partial fix, the Ethereum blockchain suffered a temporary hard fork earlier today. What is blockchain?
The three major third-party service providers Infura, Binance and Blockchair reported the issue at around 5 am Eastern Time.
According to Péter Szilágyi, head of the Ethereum Foundation, the vulnerability has been disabled for two years.
Technically, you are right, it is an "unannounced hard fork" (from bad chain to good chain). In other words, silently repairing a bug that has been dormant for more than 2 years is less likely to cause damage than raising awareness of it. We strive to minimize potential losses.
-PéterSzilágyi （@peter_szilagyi） 2020 年 11 月 11 日
Blockchair chief developer Nikita Zhavoronkov said on Twitter: "Ethereum developers have introduced code changes to some extent, which today led to the split of the blockchain from 11234873 (UTC: 08:08)."
During the incident, Binance decided to suspend the withdrawal of Ethereum. Changpeng Zhao reported on Twitter that "the Ethereum blockchain may undergo a hard fork at 11234873."
However, the most affected is Infura, because when it crashed, many services (such as MetaMask Wallet and Coinbase Wallet) could not connect to the Ethereum blockchain.
This error caused a lot of confusion in the crypto community, and most importantly, because there is no information about it.
Blockchain is the key to sustainable digital finance
Today, the World Economic Forum released a new report stating that blockchain represents the core element of sustainable digital finance.
He said: "We believe that sustainable digital finance will play a vital role in effectively guiding capital to promote innovation, growth and job creation, while supporting the transition to a sustainable low-carbon economy." That report.
However, the report does not directly focus on cryptocurrencies. In fact, the support for blockchain technology is different from the criticism of Bitcoin.
KuCoin recovers stolen crypto funds
The crypto exchange KuCoin recovered 84% of the crypto funds stolen in September.
KuCoin CEO Johnny Lyu pointed out on Twitter, “So far, 84% of the affected crypto assets have been recovered through chain tracking, contract renewal and judicial recovery.”
It is worth remembering that the hacking of the cryptocurrency exchange took place on September 26. Similarly, the cryptocurrency exchange claims to know who stole the money and cooperated with the police.
Crypto BTC worth 360 million USD tokenized on Ethereum
The slowdown in DeFi's interest in the crypto community did not constitute a barrier in October, as $360 million was tokenized on the Ethereum blockchain in October.
As we reported in CryptoTrend today, according to Dune Analytics, during October alone, $360 million of Bitcoin was tokenized in Ethereum.
However, compared to the $737 million that entered Ethereum last month, a slowdown was observed.
Ray Dalio: The government will declare encrypted BTC illegal
Billionaire investor Ray Dalio (Ray Dalio) talked about encryption technology in an interview with Yahoo Finance.
In particular, Dalio explained the terrible crypto investment represented by Bitcoin; he promised that eventually the government would ban the use of cryptocurrencies. In addition, Bitcoin fluctuates too much.
However, it seems that Dalio's criticism of Bitcoin or cryptocurrencies can be traced back to 2019, when there was little knowledge about cryptocurrencies. At present, we have not seen a government that can ban Bitcoin 100%. In fact, this is the attraction of its cryptocurrency.
In a few lines...
The market value of cryptocurrencies has reached an annual high of $465 billion. Celsius doubled its cryptocurrency reserves to $2.2 billion According to the Wall Street Journal, China Construction Bank, one of China's largest banks, today launched digital bonds that can be purchased with Bitcoin.
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