• Breaking News

    Friday, January 22, 2021

    Home Unlabelled Ethereum Prysmatic Labs 2021 Update

    Ethereum Prysmatic Labs 2021 Update

    January 22, 2021

    Ethereum Prysmatic Labs 2021 Update

    Prysmatic Labs 2021 Update

    Posted: 22 Jan 2021 08:57 AM PST

    The security level of PoW networks should be measure in dollars, and it should reflect the cost of executing a 51% attack.

    Posted: 22 Jan 2021 12:31 PM PST

    Equating hashrates to network security is yet another huge false narrative in the crypto space that needs to be debunked. PoW works as a resource intensive activity. Its security is a function of the aggregated cost of mining equipment depreciation and operation. The purpose of PoW is to allow for a decentralized operation of the network. This consensus mechanism is effective at achieving this as long as no single entity controls 51% or more of the processing power of the network. The perpetrator evaluates the feasibility and profitability of the attack by calculating how much it would cost to successfully execute it. Hashrates are a factor of this calculation, but what really matters is the $ cost. This is why hashrate is a not a good security metric. This results in two main implications:

    • It is impossible to compare BTC's with ETH's security level by looking at hashrates alone because each uses a different hash function with dramatically different costs.
    • Mining hardware becomes more efficient and cheaper over time, this means that the hashrate of a network must go up in order to maintain the same level of security over time.

    ​

    Cost of a 51% attack:

    51% of total aggregated cost mining cost (hardware deprecation + electricity) * number of blocks needed to sustain the attack * block time

    ​

    The (number of blocks * block time) time calculation may be different for various block chains, so it would be better to use a fixed standard in minutes for all PoW networks.

    This would give us a standard metric that can be used as an apples to apples comparison and it would be a much more meaningful way to understand the historical progression of a network's security.

    ​

    EDIT: I understand that it may be impossible to calculate the cost of a 51% attack, but it seems reasonable to assume that we can arrive at an approximation of the current aggregated cost of operating the network (regardless of factors like availability of new hardware), and that this number however imperfect it might be would still be a better reference than relying solely on raw hashrate.

    submitted by /u/TheWierdGuy
    [link] [comments]

    Ethereum 2.0 will boom the crypto staking sector - TCR

    Posted: 22 Jan 2021 05:22 AM PST

    2020 In Review - a look back at all the security incidents that happened in Ethereum and crypto

    Posted: 22 Jan 2021 11:47 AM PST

    ETH noob, so be gentle. Curious about which to use for defi supplying via Coinbase Wallet: Compound, dYdX, or Yearn?

    Posted: 22 Jan 2021 10:33 AM PST

    As the title says, I'm pretty much new to the cryptocurrency world and I've decided Ether is the way to go. As such, I've read about staking (I don't have enough to do this yet?) and supplying, with the latter being something I can do.

    So via the Coinbase Wallet I see the most popular defi supplying apps are Compound, dYdX, and Yearn. Is one better than the other. Who offers the best return?

    Thanks!

    submitted by /u/onemananswerfactory
    [link] [comments]

    Ethereum’s Stablecoin Landscape: Early 2021

    Posted: 22 Jan 2021 01:23 PM PST

    Staking with a Nano Ledger?

    Posted: 22 Jan 2021 04:52 AM PST

    Sorry if already asked, but I am not technically savvy enough to (confidently) set my own ETH node to stake. Worse, there are apparently penalties that you can incur when not staking properly. I'd rather really not lose ETH trying to stake.

    I'm kinda backed into a corner to use Coinbase or Kraken as a means to stake. Their ease-of-use when setting up does come with prices though.

    1. Decreased APY % rewards since they take a cut

    2. Not your keys not your crypto

    Does anyone here know if currently or somewhere down the road, we will be able to stake ETH from a ledger somehow? Thank you.

    submitted by /u/hakuna_m4t4t4
    [link] [comments]

    [help] I sent Ethereum but set the fee too low

    Posted: 22 Jan 2021 12:42 PM PST

    I went to send some etherum to my coinbase account but set the fee too low now its stuck trying to transfer. my ledger shows the portfolio drop for a second like it transferred but then goes back to the normal amount. It isn't going through due to the low fee. I did this 24 hours ago. the transaction id isn't showing in blockchain explorer now either as a valid one. is there a way to reset this or should I just wait it out?

    Thanks in advanced!

    submitted by /u/Disturbedfan55
    [link] [comments]

    How is Proof of Stake supposed to combat centralization?

    Posted: 21 Jan 2021 09:11 PM PST

    From my naive understanding, Proof of Work is vulnerable to centralization because the integrity of the network lies in the hands of those with computing power, which is only realistically accessible by those who have lots of capital. (Correct me if I'm wrong--is it the integrity or survival of the network that is at risk?) (Also, why exactly is this a threat to centralization?) (What exactly is centralization in the first place?)

    And Proof of Stake aims to solve this by trusting people with more stake, or native token, to uphold the integrity of the network. But how is this different? If the people with the most money/token uphold the integrity of the network, how is this not running into the same problem of centralization?

    submitted by /u/url-
    [link] [comments]

    Rocket Pool — ETH2 Staking Protocol Part 1

    Posted: 21 Jan 2021 09:13 PM PST

    Minority mining pools threaten to collude against EIP 1559 update

    Posted: 22 Jan 2021 09:30 AM PST

    [HIRING] Events Marketing Manager at OpenZeppelin! �� Remote �� Great benefits �� Awesome community! We have LOTS of amazing developer workshops, webinars, and panels planned this year for you to work on. ⚡ Apply on the website.

    Posted: 22 Jan 2021 12:47 PM PST

    Rinkeby testnet token with voting powers

    Posted: 22 Jan 2021 04:23 AM PST

    Hello guys, a few friends and I would like to create a token on Rinkeby testnet that allows us to vote on polls. Does anyone have any information if this is possible? (And maybe a guide on how to?)

    submitted by /u/SweetPie123
    [link] [comments]

    GU State of the Beta - January 2021

    Posted: 22 Jan 2021 02:19 PM PST

    Share your thoughts about the tether investigation by CFTC. Where do you think we will go next month when their due date is to provide documents.

    Posted: 22 Jan 2021 06:58 AM PST

    For unaware people: Tether has been printing a lotttttt of USDT last year. Even in 2017 the question already was: Are they really backing their minter USDT up by real money or assets. CFTC has given them 1 more month to cough up all the documents. I'm kinda split on the situation. If they come out poorly this could be a huge impact on the entire crypto scene. Are you guys worried? As it will have a huge impact on BTC / ETH.

    submitted by /u/TehBananaBread
    [link] [comments]

    Watch the full fireside chat from the MyData conference. MIT's Professor Alex Pentland discusses his latest research into new forms of data governance, such as data trusts and Data Unions, with host Shiv Malik.

    Posted: 22 Jan 2021 09:22 AM PST

    Top 10 Best Reliable Ethereum Wallet - CoinGyan

    Posted: 22 Jan 2021 10:20 AM PST

    Best way to send Ether to another address using a private key?

    Posted: 22 Jan 2021 12:11 PM PST

    I have 1 ether i found on an old wallet that i want to move to my main wallet. I have the private key and back in the day it was highly recommended to process the transaction on an offline computer or VM, then process the signed transaction on an internet connected computer.

    Is this still necessary or recommended? I will never use this wallet again after I move the ether. It is annoying to jump through the extra hoops but if there are legitimate security concerns against using myetherwallet or other methods to transfer from an internet connected machine I can follow best practice.

    submitted by /u/hoti0101
    [link] [comments]

    Easiest way to pull a list of all erc20 token symbols

    Posted: 22 Jan 2021 09:23 AM PST

    Hi all I'm trying to make a comprehensive list of all erc20 tokens with their corresponding symbol. What's the most efficient way to approach this? Thanks

    submitted by /u/Fadedwaif
    [link] [comments]

    API3 to Integrate With Omen Prediction Markets

    Posted: 22 Jan 2021 06:29 AM PST

    Can someone send me some test ether on Ropsten?

    Posted: 22 Jan 2021 05:32 PM PST

    Sorry, I'm a noob at crypto, but I want to make a smart contract, and my budget is 0. I have tried the test faucets, but they seem to not be working.

    If anyone can, my address is: 0xA71Ee9817D43Ee81b0Db04eEb930C12e89f974a3

    Dear mods: If this goes against the rules, feel free to remove.

    submitted by /u/l3gacyb3ta
    [link] [comments]

    working on a way to fix the Bitmain Antminer E3

    Posted: 22 Jan 2021 08:03 AM PST

    so I have been playing around with Asics for a bit, one of my new projects coming up is I plan to add more memory to a Bitmain Antminer E3, I do believe this is possible as I have done it on an s9 and recently a gentleman did it on an Nvidia... from what I can see the e3 is still working, but running at a limited nature, I believe this can be fixed and if one wanted to make it so that it can still be used for the next few years if not longer... my question does anyone have any interest in this project? do you have any old e3's and/ or hashboards you would sell cheap or donate to this project... I'm located in VA

    if so please either comment below and send me a message

    submitted by /u/paranoidtimesinc
    [link] [comments]

    Looking for ETH coder/dev to help with interest-bearing token/coin idea

    Posted: 22 Jan 2021 08:02 AM PST

    I am interested in talking with someone who is knowledgeable about ethereum regarding launching an interest-bearing crypto. My limited knowledge has pointed me to ethereum as the preferred platform, but I'm going to admit I have more questions than answers.

    Not sure if this is the correct reddit/sub to post this. Please point me in the right direction if it is not.

    EDIT: I am sending a message directly to anyone interested.

    submitted by /u/3453452452
    [link] [comments]

    Help with potentially lost Ethereum in WallEth

    Posted: 22 Jan 2021 03:59 PM PST

    This may be a longshot, but I had some Ethereum in WallETH on my Samsung Galaxy S8 a couple years ago. I thought I wrote the keys down, but I am not sure where my keys are and I've tried all my keys on it. I got a new phone and accidentally deleted the app on my S8. I still have the phone and haven't done any kind of restore on it. Is there anyway where I can restore the app data on it to bring back my wallet? Any help would be greatly appreciated!

    submitted by /u/bd90823
    [link] [comments]
    Read more
    at

    No comments:

    Post a Comment