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'accidental' Bug Froze $280 Million Worth Of Ether In Parity Wallet

'accidental' Bug Froze $280 Million Worth Of Ether In Parity Wallet

'Accidental' bug froze $280 million worth of ether in Parity wallet Millions of dollars' worth of ether, the digital token of the ethereum blockchain, could be frozen on a cryptocurrency wallet because one individual "accidentally" triggered a bug. Parity, a cryptocurrency wallet provider, said in a security alert Tuesday that it had discovered a "vulnerability" in its wallet that allowed users to change code and become the owners of wallets that didn't belong to them. The company said that one person "suicided" the wallet, deleting its code and freezing all ether tokens contained within. Users are now unable to move funds out of the wallet. "We are analyzing the situation and will release an update with further details shortly," Parity said in the security alert. The coding "accident" affects all of Parity's "multisignature wallets" wallets that require one user to sign another's transaction before it is added to the ethereum blockchain which were created after July 20. Although Parity didn't disclose how much ether is currently frozen, French hacker Matt Suiche said in a blog post Tuesday that the code wipeout means that more than $280 million worth has been locked. Continue reading >>

'$300m In Cryptocurrency' Accidentally Lost Forever Due To Bug

'$300m In Cryptocurrency' Accidentally Lost Forever Due To Bug

'$300m in cryptocurrency' accidentally lost forever due to bug User mistakenly takes control of hundreds of wallets containing cryptocurrency Ether, destroying them in a panic while trying to give them back We are analysing the situation and will release an update with further details shortly, developer Parity told users.Photograph: Thomas White/Reuters '$300m in cryptocurrency' accidentally lost forever due to bug User mistakenly takes control of hundreds of wallets containing cryptocurrency Ether, destroying them in a panic while trying to give them back Last modified on Wednesday 8 November 2017 09.25EST More than $300m of cryptocurrency has been lost after a series of bugs in a popular digital wallet service led one curious developer to accidentally take control of and then lock up the funds, according to reports. Unlike most cryptocurrency hacks, however, the money wasnt deliberately taken: it was effectively destroyed by accident. The lost money was in the form of Ether, the tradable currency that fuels the Ethereum distributed app platform, and was kept in digital multi-signature wallets built by a developer called Parity. These wallets require more than one user to enter their key before funds can be transferred. On Tuesday Parity revealed that, while fixing a bug that let hackers steal $32m out of few multi-signature wallets, it had inadvertently left a second flaw in its systems that allowed one user to become the sole owner of every single multi-signature wallet. A cryptocurrency is a form of digital asset, created through a canny combination of encryption and peer-to-peer networking. Bitcoin, the first and biggest cryptocurrency, is part of a decentralised payment network. If you own a bitcoin, you control a secret digital key which you can use to prove to Continue reading >>

How To Properly Uninstall Ethereum Wallet

How To Properly Uninstall Ethereum Wallet

I hope you guys can help me on an issue I'm having with the ethereum wallet. I downloaded the wallet from the ethereum homepage and quickly noticed that it was slow as hell syncing the blockchain a problem many of you probably know. Because of that I deleted the chaindata folder as suggested in many threads. I still had the problem of a slow sync so I decided to start all over againg, to uninstall the wallet, install it and delete the chaindata folder again. To my surprise after uninstalling the wallet and installing it again I couldn't find the chaindata folder and other folders anymore. The folder structure seems to have changed. There is a chaindata folder, but it is now in the geth folder which wasn't the case at the beginning My folder structure looks like this since then: I think to remember that before my whole uninstall & reinstall chaos the Ethereum folder had more subdirectories in it Or am I just wrong? Nevertheless I would like to know how I can COMPLETELY uninstall the Ethereum wallet and everything connected to it, so that I can atempt to install it properly again (without it missing certain folders). Continue reading >>

Cancel Pending Transactions On Ethereum

Cancel Pending Transactions On Ethereum

Oct 9, 2017 00:23 695 words 4 minutes read ethereum pending transaction geth Ethereum transactions model is vastly different from Bitcoin. Instead of using UTXO (unspent transaction outputs)transaction uniqueness and order are achieved using transaction nonce. It is an integer (uint256) counter whichis incremented for each transaction of an account. Its value is effectively the number of transactions sent from a given address andits value must be included in every transaction. transactions must be processed in order (transaction with a nonce of 1 must be processed before the transaction with a nonce of 2) no skipping (transaction with a nonce of 4 cannot be included in a block until transactions with nonces of 1, 2, 3 are processed) This way the network is able to identify duplicates of transactions and enforce their order (which is essential for smart contracts). Each transaction must set gas price which directly affects transaction fees.Miners optimize their profits by including transactions with a high gas price first. If gas price is low the transaction will wait for a long time until it is mined.Eventually, it will be mined (sometimes many hours later) or dropped (miners have limited resources to queue pending transactions).However, even if the transaction is dropped by miners it may still await in pendingTransaction list of your client and artificially increaseyour nonce. You can explore the list of pending transactions on Etherscan . When a transaction is waiting for being mined all subsequent transactions are blocked. They cannot be included in a blockuntil the previous one is included (it is determined by mentioned nonce value). Even if subsequent transactions havea very high gas price they cannot be processed as it would break the order of transactions and pr Continue reading >>

Ethereum Wallet Syncing Problems

Ethereum Wallet Syncing Problems

One of the most common problems with the Ethereum Wallet application is keeping the blockchain in sync with the Ethereum network. This page describes some of the common issues users may encounter while trying to sync the blockchain and potential methods to work around the problems. Note that Ethereum Wallet will not display your account balance correctly when it is not synced fully or correctly. Check that your the clock on your computer is close to real time. Change your system settings so that your system clock is synced to an NTP (Network Time Protocol) server. Slow Syncing Between Blocks 2,283,397 And 2,717,576 You may be encountering some problems syncing Ethereum Wallet (or Mist) to the Mainnet blockchain. A common problem when syncing Ethereum Wallet's blockchain data is that the syncing slows down between blocks 2,283,397 and 2,620,384 due to the attack on the Ethereum network (reference Why is my node synchronization stuck/extremely slow at block 2,306,843? ). The syncing also slows down between blocks 2,675,055 and 2,717,576 due to the state clearing process to remove the 20 million empty accounts created by the network attack. If you have a problem with slow syncing, the easiest way to recover from this slowdown is to remove your blockchain data and restart Ethereum Wallet. Ethereum Wallet will then perform a fast sync which skips over these attack blocks. WARNING: Make sure you back up your keystore directory so you don't accidentally delete your account information. Depending on your operating system, you will find the chaindata subdirectory in: Alternatively, you can run geth removedb to remove the blockchain data. Start Ethereum Wallet. It should now start fast syncing the blockchain data. Alternatively, run geth --syncmode "fast" --cache 1024 console an Continue reading >>

Releasing Stuck Ethereum Transactions

Releasing Stuck Ethereum Transactions

Focusing on real-world use cases for Ethereum Ethereum is experiencing a backlog of transactions at current, resulting in a number of transactions not being processed for hours or even days. This article explains how transactions can become stuck, and what can be done to release them. There are many methods for deciding on the best gas price when sending an Ethereum transaction. Websites such as provide an overview of the gas usage and information about the current transaction pool can be found at The latter website is especially useful because it can order transactions by gas price. To do so click on the GasPrice column. The resultant list is roughly how miners will look at the transactions so if you select a gas price value to ensure that your transaction is in the first couple of pages you are likely to have very short confirmation times. But what if your transaction has not been confirmed? It is possible that it has become stuck, and needs action to be released. Before explaining how to release stuck transactions it is important to understand why transactions become stuck in the first place. Ethereum is a blockchain: multiple blocks, each containing transactions and linked one after the other in a chain as shown below: (In reality both individual blocks and the chain structure are more complex, but the diagram provides a sufficient overview for the purpose of this article). The concept of blocks being created by miners through a process called mining is well-known, but the process by which transactions are selected for a particular block is less clear. To explore this process in more detail, let us look at the creation of example block 1434 below. Ethereum contains many elements other than the blockchain, and one of these is the transaction pool. The transaction po Continue reading >>

Introduction Swarm 0.2rc5 Documentation

Introduction Swarm 0.2rc5 Documentation

immutable, unforgeable, verifiable yet plausibly deniable storage no single point of failure, fault and attack resilience censorship resistance, universally accessible permanent public record efficient market driven pricing. tradeable trade off of memory, persistent storage, bandwidth efficient use of the blockchain by the swarm accounting protocol deposit-challenge based guaranteed storage [planned for POC 0.4 by Q2 2018] Swarm client is part of the Ethereum stack, the reference implementation is written in golang and found under the go-ethereum repository. Currently at POC (proof of concept) version 0.2 is running on all nodes. Swarm defines the bzz subprotocol running on the ethereum devp2p network. The bzz subprotocol is in flux, thespecification of the wire protocol is considered stable only with POC 0.4 expected in Q2 2018. The swarm of Swarm is the collection of nodes of the devp2p network each of which run the bzz protocol on the same network id. Swarm nodes are also connected to an ethereum blockchain.Nodes running the same network id are supposed to connect to the same blockchain.Such a swarm network is identified by its network id which is an arbitrary integer. Swarm allows for upload and disappear which means that any node can just upload content to the swarm andthen is allowed to go offline. As long as nodes do not drop out or become unavailable, the content will stillbe accessible due to the synchronization procedure in which nodes continuously pass along available data between each other. Uploaded content is not guaranteed to persist until storage insurance is implemented (expected in POC 0.4 by Q2 2018). All participating nodes should consider voluntary service with no formal obligation whatsoever and should be expected to delete content at their will. Continue reading >>

Ethereum Wallet Syncing Problems

Ethereum Wallet Syncing Problems

One of the most common problems with the Ethereum Wallet application is keeping the blockchain in sync with the Ethereum network. This page describes some of the common issues users may encounter while trying to sync the blockchain and potential methods to work around the problems. Note that Ethereum Wallet will not display your account balance correctly when it is not synced fully or correctly. Check that your the clock on your computer is close to real time. Change your system settings so that your system clock is synced to an NTP (Network Time Protocol) server. Slow Syncing Between Blocks 2,283,397 And 2,717,576[ edit ] You may be encountering some problems syncing Ethereum Wallet (or Mist) to the Mainnet blockchain. A common problem when syncing Ethereum Wallet's blockchain data is that the syncing slows down between blocks 2,283,397 and 2,620,384 due to the attack on the Ethereum network (reference Why is my node synchronization stuck/extremely slow at block 2,306,843? ). The syncing also slows down between blocks 2,675,055 and 2,717,576 due to the state clearing process to remove the 20 million empty accounts created by the network attack. How to recover from slow syncing?[ edit ] If you have a problem with slow syncing, the easiest way to recover from this slowdown is to remove your blockchain data and restart Ethereum Wallet. Ethereum Wallet will then perform a fast sync which skips over these attack blocks. WARNING: Make sure you back up your keystore directory so you don't accidentally delete your account information. Depending on your operating system, you will find the chaindata subdirectory in: Linux - $HOME/.ethereum/geth OS/X - $HOME/Library/Ethereum or $HOME/Library/Ethereum/geth Windows - %APPDA Continue reading >>

How To Delete Your Local Copy Of The Blockchain

How To Delete Your Local Copy Of The Blockchain

How to Delete Your Local Copy of the Blockchain If you want to delete your local copy of the NEM blockchain, it is strongly recommended to shutdown the NEM software (NCC and NIS) first. The blockchain is a database file located at: Windows Vista/7/8: C:\Users\[YOUR-USERNAME]\nem\nis\data\ Mac: /Users/[YOUR-USERNAME]/nem/nis/data/ Linux: /home/[YOUR-USERNAME]/nem/nis/data/ After you deleted the blockchain, restart the NEM client and it will begin to download and synchronize the blockchain from scratch. If you don't want to wait for the blockchain to download, you can follow this guide to import the developer uploaded database. 1. Open the Windows file explorer and go to (C:) and then to Users. 6. Delete the "nis5.h2" file (this is the blockchain database): Continue reading >>

Blockchain Startup Ethms Is Implementing Ethereum Technology To Bring Cross-border Services Into The Digital Age

Blockchain Startup Ethms Is Implementing Ethereum Technology To Bring Cross-border Services Into The Digital Age

Blockchain Startup ETHMS is Implementing Ethereum Technology to Bring Cross-Border Services into the Digital Age Blockchain Startup ETHMS is Implementing Ethereum Technology to Bring Cross-Border Services into the Digital Age Blockchain Startup ETHMS is Implementing Ethereum Technology to Bring Cross-Border Services into the Digital Age March 10, 2018 Singapore Tech startup ETHMS has announced its intention to implement blockchain technology through its ERC-20-based token to revolutionize the cross-border services market. The company is building an infrastructure based on ethereum technology to bring general services, contractual agreements and specifically cross-border services into the digital realm. The cryptocurrency market has had a banner year thanks to the meteoric rise in bitcoin prices and the huge popularity of initial coin offerings as a new way of fundraising. Many people are buying into new digital tokens with the assumption that those virtual currencies will appreciate over time at levels similar to Bitcoin, or its rival Ether. Market watchers have stated they expect more dramatic movements in the cryptocurrency market in 2018. As cryptocurrencies grow and expand exponentially, they are also beginning to take over the role of paper currencies. From cryptocurrencies being a form of investment for your Average Joe all the way up to your Wall Street superstars such as Thomson Reuters Corp, these people have all invested in cryptocurrencies. However, this year was especially unique with governments competing against one and other in order to become the next Silicon Valley of cryptocurrencies. With much of Asia adopting blockchain technology and other Nations creating the necessary infrastructure to implement such technology. Despite all these developments, th Continue reading >>

How To Delete Geth Chaindata & Resync

How To Delete Geth Chaindata & Resync

Home Guides Clients How To Delete Geth Chaindata & Resync Go-Ethereum (Geth)is one of the many Ethereum clients . It is developed by developers from the Ethereum Foundation . The core features of Ethereum web 3.0 stack are expected to arrive at Geth first. In this guide, the procedure for re-syncing Gethon Windows will be shown. I am usingGeth 1.5.4 (latest stable version as of 30 Nov) on my Windows 10 machine. Note: If you have not installed Geth, please install Geth using the instructions here: How To Install Geth In Windows . Resync of the blockchain has the benefit of reducing the amount of disk space used by Geth. The deletion of chaindata folder and resyncing of the blockchain will not be needed once Geth has employed state-tree pruning which will automatically archive old blocks to reduce disk usage. Until Geth has included this functionality, the regular deletion of chaindata folder and resyncing of blockchain is recommended to keep the disk usage at minimum. The chaindata folder is located atC:\Users\\AppData\Roaming\Ethereum\geth\. Yes, delete the whole folder. Do not worry. Your Ethereum account will NOT be deleted (they are stored in another location). Step 3: Run Geth with the -fast -cache=1024 flags If you do not know how to set the flags, please usethe instructions here (Under Step 4): How To Install Geth In Windows . Step 4: Wait for Geth to complete the fast sync Fast sync is completed when Geth starts to import 1 block at a time. Continue reading >>

Ethereum: Using The Wallet With A Private Geth Node

Ethereum: Using The Wallet With A Private Geth Node

Ethereum: Deploying to a Private Blockchain This step may be optional depending on your situation. If youve had geth running in a dev environment for a while then its worth checking if a newer version is available. Check your current geth version by opening a terminal and typing: GethVersion: 1.5.9-stableGit Commit: a07539fb88db7231d18db918ed7a6a4e32f97450Protocol Versions: [63 62]Network Id: 1Go Version: go1.7.3OS: linuxGOPATH=GOROOT=/usr/lib/go-1.7 The stable version available at time of writing is 1.6.7. StackExchange has a nice answer on updating Mist on Ubuntu which helped me with the next part: sudo apt-get install software-properties-commonsudo add-apt-repository -y ppa:ethereum/ethereumsudo apt-get update && sudo apt-get upgrade Lastly, validate that geth was updated successfully: You should see output similar to below confirming the version installed as 1.6.7-stable GethVersion: 1.6.7-stableGit Commit: ab5646c532292b51e319f290afccf6a44f874372Architecture: amd64Protocol Versions: [63 62]Network Id: 1Go Version: go1.8.1Operating System: linuxGOPATH=GOROOT=/usr/lib/go-1.8 Next youll need to download the Ethereum Wallet if its not already installed on your machine. wget Wait until the download is complete and youll see something like this: .HTTP request sent, awaiting response... 200 OKLength: 57229019 (55M) [application/octet-stream]Saving to: 'Ethereum-Wallet-linux64-0-9-0.zipEthereum-Wallet-lin 100%[===================>] 54.58M 794KB/s in 2m 12s 2017-08-18 23:12:42 (425 KB/s) - 'Ethereum-Wallet-linux64-0-9-0.zip saved [57229019/57229019] Unzip the downloaded file and cd into the newly created directory: unzip Ethereum-Wallet-linux64-0-9-0.zipcd linux-unpacked The new directory named /linux-unpacked should contain several files, including the ethereumwallet exec Continue reading >>

Removing Installation Issues, Con't: Testrpc | Truffle Suite

Removing Installation Issues, Con't: Testrpc | Truffle Suite

Removing Installation Issues, con't: TestRPC Update: Since this blog post was published, we have released Ganache a personal blockchain and a replacement to the TestRPC. We have left this post unaltered, but we highly recommend checking out our Working with Ganache page. If you've been following along, you'll know that we recently removed most if not all installation issues from Truffle . For us it was a pretty big deal: Installation issues were, by far, the number one issue plaguing new users on any platform. We thought our solution was novel, so we blogged about it, and the biggest reaction we received from users was, "This is awesome, thank you! But can you do it for the TestRPC too?" Well you asked, and today we delivered. The TestRPC has always been the sister application to Truffle, and for good reason. The TestRPC gives users a personal blockchain with which to develop, drastically lowering the barrier to entry of Ethereum development and removing the need for mining or dealing with real Ether. Developing on the TestRPC is an integral part of every Ethereum project, and it's usually the first blockchain deployed to in a professional Ethereum developer's workflow. We'll be blogging about the ideal Truffle workflow a bit later, but instead of waiting, you can just let Chris Hitchcott from Digix Global show you how it's done . (Thank you Chris, this was a great presentation.) Fixing installation issues on the TestRPC required the very same solution as fixing them on Truffle, so we won't go into detail here. However, I will say the solution worked even better for the TestRPC than it did for Truffle. This is because the bundle we were able to create didn't require any external dependencies, making the package that you install just a single download. When compared to Continue reading >>

The Blockchain Immutability Myth

The Blockchain Immutability Myth

May 9, 2017 at 11:00 UTC|UpdatedMay 9, 2017 at 22:27 UTC Dr Gideon Greenspan is the founder and CEO of Coin Sciences, the company behind the MultiChain platform for private blockchains. In this opinion piece, Greenspan attacks the idea that true immutability can be achievedin blockchain systems, arguing a more relative definition of this featurebetter encapsulates what's the technology can achieve. "The highest good, than which there is no higher, is the blockchain, and consequently it is immutably good, hence truly eternal and truly immortal." -- Saint Augustine, De natura boni, i, 405 C.E. (with minor edits) If you ask someone well-informed about the characteristics of blockchains, the word 'immutable' will invariably appear in the response. In plain English, this word is used to denote something which can never be modified or changed. In a blockchain, it refers to the global log of transactions , which is created by a consensus between the chain's participants. The basic notion is this: once a blockchain transaction has received a sufficient level of validation, some cryptography ensures that it can never be replaced or reversed. This marks blockchains as different from regular files or databases, in which information can be edited and deleted at will. Or so the theory goes. In the raucous arena of blockchain debate, immutability has become a quasi-religious doctrine - a core belief that must not be shaken or questioned. And just like the doctrines in mainstream religions, members of opposing camps use immutability as a weapon of derision and ridicule. The past year has witnessed two prominent examples: For one, cryptocurrency advocates claim that immutability can only be achieved through decentralized economic mechanisms such as proof-of-work . From this perspectiv Continue reading >>

Yes, This Kid Really Just Deleted $300 Million By Messing Around With Ethereums Smart Contracts.

Yes, This Kid Really Just Deleted $300 Million By Messing Around With Ethereums Smart Contracts.

Interested in the challenges between innovation and law founder of www.lawandblockchain.eu Yes, this kid really just deleted $300 MILLION by messing around with Ethereums smart contracts. Last year, The DAO, a decentralized autonomous investment fund, got hacked for $50 million. In July, a hacker was able to steal $31M of Ether by exploting a bug found in Paritys wallets. Today, we have the worst hack yet, only this time, the stakes are even bigger and it is all just one big fuck-up. Two days ago, a user named devops199 opened an issue on Paritys Github, titled anyone can kill your contract , seemingly wanting to let Parity, a company that provides smart contracts for users of the Ethereum network, know about a vulnerability in their smart contract. The smart contract that he was referring to, concerns a multi-signature-contract, which is used by a large amount of people as a digital wallet to safely store their Ethereum. Apparently, this wallet had a bug in its code. The bug, or, better said, security vulnerability, allowed Devops199 to make himself one of the owners of the contract. This gave him the permission to do pretty much anything. What Devops199 did then, might just be one of the most expensive mistakes ever made: Essentially, he deleted the function of the smart contract that allowed the owners of the Ethereum to transfer their Ethereum. He locked the Ethereum up in the contract, rendering it completely useless forever. Still, it seems like he did not quite understand what had just happened. No No it wont. You pretty much just deleted a f*ck load of money. Essentially, everyone who used this multi-sig wallet, can no longer access their Ethereum anymore. Estimations of how much Ethereum was actually in these contracts range from $150 million USD to $300 milli Continue reading >>

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