How not to deal with a 51 percent attack

Leo Zhang

By Leo Zhang

Technical & Updates

Verge is forced to fork after suffering a 51% attack
(Bitcoin.com, by Kai Sedgwick)

"A bug in the altcoin’s code enabled the attacker to spoof timestamps and cause each new block to be produced using the same algorithm. Usually, a different algorithm must be used for each block to prevent any single miner or pool of miners from controlling the XVG hashrate."

Reddit discussion on the Verge attack

Verge (XVG) Mining Exploit Attack Megathread from r/CryptoCurrency

SDKs could be the Trojan Horse for millions of iPhones
(The Next Web)

"Bay Area security expert Felix Krauseexamined several of the most popular SDKs, and found many lacked transport-level security. Or, to put in plainer terms, they were being served in an insecure fashion, allowing a malicious third-party to intercept and modify the contents."

News & Commentary

Adding support for Bitcoin forks to Coinbase
(Coinbase)

"This change will allow customers to more easily withdraw assets associated with Bitcoin Forks across all Coinbase products. We are not announcing support for any specific assets at this time."

Introducing Coinbase Ventures
(Coinbase)

"We’ll be providing financing to promising early stage companies that have the teams and ideas that can move the space forward in a positive, meaningful way."

Snippets from the Tezos class action complaint

Lightning Labs CEO: We are back to a 'bitcoin, not blockchain' world
(Yahoo Finance, by Daniel Roberts)

"Put simply: On a blockchain, which is a decentralized peer-to-peer ledger, thousands of computers have to all verify all the transactions. On Lightning, transactions are verified off-chain between the participants in a transaction, relying on blockchain only for security if something goes awry."

I still see you, XRP
(TwoBitIdiot)

"What are Ripple’s insider trading policies with respect to XRP? Are any employees or advisors paid in XRP? If so, what are the terms?"

Startups want to use the blockchain to take our data out of Uber's hands
(Motherboard, by Tracey Lindeman)

"'The idea that mainstream consumers will directly interact with blockchain technology—or any piece of code—without intermediaries is completely silly,' wrote Arvind Narayanan, a computer science professor at Princeton who studies blockchain, in an email. 'I think that success in these markets will be driven primarily by economies of scale, and the openness of the underlying technology is irrelevant to consumers.'"