Jutta’s update on bug bounty program and security audit

Hi, Jutta writing again – I initially introduced myself when we started the bounty program earlier this year and I’m happy to provide you with an update on what’s happening on the security side prior and throughout launch. We have had some high quality submissions by bounty hunters – kudos for the creative exploits sent along that the bugs made possible. The number of submissions recently rose. Hence we decided and are announcing that we will continue the bounty program... [Read More]

Mihai’s Ethereum Project Update. The First Year.

Into the ether Hello, fellow Ethereans. I am Mihai Alisie, one of the Ethereum founders, and for the past year I’ve served as the Vice President of the Ethereum Foundation and Director of Ethereum Switzerland. In the early days of the project I concentrated my attention on the community side and worked on the holons idea for a distributed physical infrastructure; however, the project needed someone in Switzerland, and I was more useful here focusing on other things. During the... [Read More]

Getting to the Frontier

So first some background. We’ve already covered a little about what to expect from Frontier in the Ethereum Launch Process blog post and Gav has given us a comprehensive overview of the state of the development effort. You can also read about some of the ongoing security work, including the bug bounty system. The bug bounty program has found my favorite bug so far: Jonas Nick’s discovery that you could send a negative payment to somebody which moves value from their account to... [Read More]

The Ethereum Development Process

So I’m not sure if this kind of development methodology has ever been applied to such an extreme before so I figured I’d document it. In a nutshell, it’s sort of like test-driven triplet-programming development. While speed-developing our alpha codebase, four of us sat around a table in the office in Berlin. Three people (Vitalik, Jeff and me) each coders of their own clean-room implementation of the Ethereum protocol. The fourth was Christoph, our master of testing. Our target was... [Read More]

The Ethereum Launch Process

I’m Vinay Gupta, the newly minted release coordinator for Ethereum. I’ve been working with the comms team on strategy, and have now come aboard to help smooth the release process (some of the content in this blog is out of date, please see this link for the most up to date information on Ethereum). I’ll be about 50/50 on comms and on release coordination. A lot of that is going to be about keeping you updated on progress: new features, new... [Read More]

Gav’s Ethereum ÐΞV Update V

I was woken by Vitalik’s call at 5:55 this morning; pitch black outside, nighttime was still upon us. Nonetheless, it was time to leave and this week had best start on the right foot. The 25-minute walk in darkness from the Zug-based headquarters to the train station was wet. Streetlights reflecting off the puddles on the clean Swiss streets provided a picturesque, if quiet, march into town. I couldn’t help but think the rain running down my face was a... [Read More]

The Subjectivity / Exploitability Tradeoff

One of the issues inherent in many kinds of consensus architectures is that although they can be made to be robust against attackers or collusions up to a certain size, if an attacker gets large enough they are still, fundamentally, exploitable. If attackers in a proof of work system have less than 25% of mining power and everyone else is non-colluding and rational, then we can show that proof of work is secure; however, if an attacker is large enough... [Read More]

The P + epsilon Attack

Special thanks to Andrew Miller for coming up with this attack, and to Zack Hess, Vlad Zamfir and Paul Sztorc for discussion and responses One of the more interesting surprises in cryptoeconomics in recent weeks came from an attack on SchellingCoin conceived by Andrew Miller earlier this month. Although it has always been understood that SchellingCoin, and similar systems (including the more advanced Truthcoin consensus), rely on what is so far a new and untested cryptoeconomic security assumption - that... [Read More]

Superrationality and DAOs

Warning: this post contains crazy ideas. Myself describing a crazy idea should NOT be construed as implying that (i) I am certain that the idea is correct/viable, (ii) I have an even >50% probability estimate that the idea is correct/viable, or that (iii) “Ethereum” endorses any of this in any way. One of the common questions that many in the crypto 2.0 space have about the concept of decentralized autonomous organizations is a simple one: what are DAOs good for?... [Read More]

Light Clients and Proof of Stake

Special thanks to Vlad Zamfir and Jae Kwon for many of the ideas described in this post Aside from the primary debate around weak subjectivity, one of the important secondary arguments raised against proof of stake is the issue that proof of stake algorithms are much harder to make light-client friendly. Whereas proof of work algorithms involve the production of block headers which can be quickly verified, allowing a relatively small chain of headers to act as an implicit proof... [Read More]