Exchange Bug Discovery Averts Ethereum Token Theft

A bug discovered last month could have potentially emptied exchange accounts holding digital tokens used to power the ethereum-based distributed application Golem.

However, due to the nature of the bug, it could also have been used on other ethereum tokens listed at the exchange. That's because it used the platform's ERC-20 standard, a feature that has won advocates in the exchange sector due to its ability to reduce the time it takes exchanges to add new coins.

However, a Golem supporter and a GNT holder found the bug on 18th March and reported it to the developer team before it could be used maliciously.

The problem that came to light stems from how exchanges prepare the data for transactions and how Solidity (the ethereum smart contracting language) encodes and decodes the transaction data, according to Golem Factory software engineer Pawel Bylica, who published a report on the issue.

According to his assessment, the service that prepared the data for token transfers a..

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Ethereum’s Difficulty Bomb: All Smoke, No Fire?

Sometime in the future (we can't be certain when), ethereum will likely switch from its proof-of-work consensus algorithm to Casper, a proof-of-stake system its developers are now in the throes of completing.

While this may sound like a slight change to those who are unfamiliar, altering this one parameter will have an outsized effect. When the protocol change happens, the ethereum blockchain will hard fork, meaning that, for a short period of time, two networks – the old and new – will exist simultaneously.

At that point, the goal for ethereum will be to persuade the majority of its users to upgrade to the new proof-of-stake-powered blockchain. Otherwise, ethereum risks winding up creating another blockchain, as it did when a past technical update created ethereum classic.

On the surface of things, getting the companies that use the ethereum network to switch should not be a problem. After all, proof of stake promises to be faster and more scalable, and to consume far less ene..

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