Posted on July 27th, 2016.
The primary expense that must be paid by a blockchain is that of security. The blockchain must pay miners or validators to economically participate in its consensus protocol, whether proof of work or proof of stake, and this inevitably incurs some cost. There are two ways to pay for this cost: inflation and transaction fees. […]
Posted on July 26th, 2016.
The foundation has committed to support the community consensus on the admittedly difficult hard fork decision. Seeing the results of various metrics, including carbonvote, dapp and ecosystem infrastructure adoption, this means that we will focus our resources and attention on the chain which is now called ETH (ie. the fork chain). That said, we recognize […]
Posted on July 20th, 2016.
We would like to congratulate the Ethereum community on a successfully completed hard fork. Block 1920000 contained the execution of an irregular state change which transferred ~12 million ETH from the “Dark DAO” and “Whitehat DAO” contracts into the WithdrawDAO recovery contract. The fork itself took place smoothly, with roughly 85% of miners mining on […]
Posted on June 19th, 2016.
Over the last day with the community’s help we have crowdsourced a list of all of the major bugs with smart contracts on Ethereum so far, including both the DAO as well as various smaller 100-10000 ETH thefts and losses in games and token contracts. This list (original source here) is as follows: The DAO (obviously) The […]
Posted on June 17th, 2016.
An attack has been found and exploited in the DAO, and the attacker is currently in the process of draining the ether contained in the DAO into a child DAO. The attack is a recursive calling vulnerability, where an attacker called the “split” function, and then calls the split function recursively inside of the split, […]
Posted on May 9th, 2016.
Special thanks to Tim Swanson for reviewing, and for further discussions on the arguments in his original paper on settlement finality. Recently one of the major disputes in ongoing debate between public blockchain and permissioned blockchain proponents is the issue of settlement finality. One of the simple properties that a centralized system at least appears […]
Posted on April 1st, 2016.
The Ethereum Foundation has announced that it will be working with the New York-based banking consortium R3CEV on creating a new blockchain-based cryptocurrency, Lizardcoin, which aims to showcase the benefits of blockchain technology as well as the consortium’s ability to bring the technology to institutional clients and the regulation-loving masses by supplementing it with a […]
Posted on March 30th, 2016.
Consensys and Microsoft have announced that the Ethereum contract programming language Solidity will be available in Microsoft’s Visual Studio integrated development environment. ConsenSys and Microsoft collaborated on this integration to enable developers to rapidly build smart contract-based applications for the public Ethereum blockchain, as well as private and consortium blockchain deployments based on Ethereum. This […]
Posted on March 5th, 2016.
After an additional two months of work after the release of the first python proof of concept release of Serenity, I am pleased to announce that Serenity PoC2 is now available. Although the release continues to be far from a testnet-ready client, much less a production-ready one, PoC2 brings with it a number of important […]
Posted on January 15th, 2016.
Blockchains are a powerful technology, as regular readers of the blog already likely agree. They allow for a large number of interactions to be codified and carried out in a way that greatly increases reliability, removes business and political risks associated with the process being managed by a central entity, and reduces the need for […]