Topic: [ANN] Ethereum: Welcome to the Beginning - page 34. (Read 2006044 times)

"A consensus bug hit #ethereum mainnet today, exploiting the consensus-bug that was fixed in geth v1.10.8. Fortunately, most miners were already updated, and the correct chain is also the longest (canon)

PSA: Update to v1.10.8!"

Link
https://twitter.com/mhswende/status/1431259601530458112

"Update on this: 3 pools seem to be have been mining on the wrong Geth version:
@flexpool_io
 (who reported the issue 🙏),
@btccom_official
 and
@binance. "

Link
https://twitter.com/TimBeiko/status/1431278258222338056

A failure of the Palantir software, thanks to which several FBI employees received unauthorized access to the personal data of the Ethereum Foundation developer Virgil Griffith. For Virgil Griffith, the alleged violation of his constitutional rights may be a potential remedy. Now lawyers are studying the available legal options.

Experts have not ruled out that the incident may indicate a broader problem with the use of Palantir by the FBI. https://nypost.com/2021/08/25/fbi-palantir-glitch-allowed-unauthorized-access-to-private-data/

Really interesting project and one to keep an eye on


https://twitter.com/Raptor2799/status/1430890724870922253
Do you know how
@sarcophagusio
 works? ⚒️🛠️

Take a look at the explanation below, it explains the problem and the solution quite easily.
#Ethereum #arweave #ETH $SARCO







https://medium.com/sarcophagus-community/sarcophagus-a-dead-mans-switch-92e70de66554

A dead man’s switch is a mechanism (digital or physical) that triggers when the user fails to perform an action.


The combination of Ethereum’s network and the permanent file storage network that Arweave provides is the perfect storm for creating the dead man’s switch that Sarcophagus offers.
From a technical perspective, it works because Ethereum allows for an immutable contract to be hosted for the duration of the contract and Arweave’s technology allows for files to be stored and retrieve upon execution.
The perfect storm of technology to protect assets from the unforeseen.

If you mine ETH, just set the fee around 25-35 max max, and be patient.  theres no point in paying a higher fee.
edit: might have to wait a year or two

The fee is crazy right now. Ethgasstation suggest 102 for an instant transfer and lowest is in 67 gwei as the standard. A while ago I've seen it on 93 gwei and that already surprised me.
I thought that the fork will give significant decrease to the fees .

For those who use the Geth client, the developers have released a new version of Geth v1.10.8, which fixes a serious vulnerability in the code, according to the developers, all versions of Geth that support the London hard fork are vulnerable.

Thank you. I am using Gminer.

These video cards are no longer overclocked, the average hash rate is 27-29 megahash.
https://2miners.com/blog/best-ethereum-mining-software-for-nvidia-and-amd/
"The only open-source mining software Ethminer came third. It doesn’t charge a developer’s fee, so hashrates in the program and in the pool are almost identical with a 0.01% difference. As you can see, if mining software is free, it doesn’t mean that you get more profit. If you choose Gminer or T-rex, you gain more."

It's weird.

Even it is his intention with the hack, he took risk by himself just to help the Poly Network or the crypto community. I don't think it is the intention because taking risk like that is very stupid.

What is really reason behind the hack and refund?

I read about that in the news too. He has already returned some of the funds and wants to return the rest. The amount of Binance Coin he stole was a shock. Here is the tweet: https://twitter.com/PolyNetwork2/status/1425509322126024708

$342 million (As of 12 Aug 08:18:29 AM +UTC) of assets had been returned:
Ethereum: $4.6M
BSC: $252M
Polygon: $85M

The remaining is $268M on Ethereum


Did he really carry out the hack just expose a vulnerability?

I have 1070 cards, what is the best miner for Ethereum with these cards?

https://twitter.com/ethburnbot/status/1425230784164556803?
"945.1184 $ETH burned 🔥🔥🔥 last hour.

Issuance: 528.0000 ETH
Net Change: -417.1184 ETH
Annualized: -3.12% 📉

2021-08-10 22:00-23:00 UTC
Last Block: 13000300
Cumulative 🔥: 24,942.1282 ETH"

It's myth. Gas now shows the gas price is not too high but I can not consider 40 Gwei is a cheap price. In 2020, before the DeFi season, gas price was cheaper, under 20 Gwei but price of ETH is about $200. Now ETH is trading at more than $3,100.

Transaction fees on ERC-20 chain is x30 more expensive than in May 2020.
 
https://www.gasnow.org/

I thought EIP-1559 will help reduce the gas fees when transacting on eth network but its so disappointing can't even exchange my erc20 tokens bought at Dex because of too much fees $43.60 low fees now this is horrible network I hope this is just temporary and eventually price will stabilize to much lower compare to now below $1 is fine but $43 for token transfer fees hell no!

the hacker wanna give back the funds
https://np.reddit.com/r/CryptoCurrency/comments/p25cex/the_polynetwork_hacker_is_returning_the_funds/

No mention of the huge DEFI hack that just happened ? 

Also above poster you forget to mention base fees makes eth transfers always more expensive due to the adjusting mechanism, and block size is doubled - but I think you mean to say block size always tends to being 50% full, because thats the adjusting mechanism for the base fee. 

Trouble understanding the Ethereum EIP 1559 upgrade? Here's the simplest analogy for this yet!

Ethereum is burning $10,000 every single minute since EIP 1559 was deployed this afternoon, ahead of schedule. Today let’s take a look at why this upgrade was done, and what it means for you. Called the London Fork, think of this being the difference between a regular traffic intersection in India, and an intersection that is well-regulated with traffic signals. Previously, the blockchain struggled with transaction fees that were like chaotic intersections – users had to compete in a closed bid auction, guessing at what any miner would accept for processing their transaction. Now Ethereum will use an algorithm based on network activity, like a traffic signal, to decide what the transaction fee will be, ie who gets the green light and who has to wait. This not only stabilizes the fee, it also doubles the block size, allowing more transactions to happen, the way more traffic can flow when it is well-regulated.

Additionally, there is the important Ethereum Improvement proposal, or EIP, number 3554, where there is a historic shift from the proof of work protocol which guzzles so much electricity, to the more efficient proof of stake. Here, instead of crunching a billion calculations, users verify transactions using their existing activity and stake. This EIP was originally scheduled for 2022, but has been moved up to December, encouraging miners to upgrade their software now!

London hard fork is big news. This shows that Ethereum can successfully introduce fundamental changes, and all the changes aren't just vaporware.

☝️ would love to see his awesome crypto-expert-portfolio, after he drags almost every altcoin in the mud here...
would tip 50% $ADK, 25% Bitconnect and 25% OneCoin.

ETH will reach $10,000 one day.. Welcome back Piston, you never seize to amaze me with your words of wisdom whenever you frequent this thread