This year I’ve had a go at trying to do my crypto taxes calcs in Excel and by golly it’s hard! I also have accounts on CryptoTaxTrader and Koinly – both seem pretty good though it was a possible issue I had on the former that lead me to trying to do it by hand…
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Hackers recently took control of a group of HP-branded servers and used them to remotely mine a cryptocurrency called raptoreum, according to reports. This resulted in the compromised cluster of HP machines becoming the biggest contributor to the total mining pool of the cryptocurrency, allowing attackers to rake in $110,000 worth. The coins are said […]
When i started with Crypto every small Dip used to give me a heart break, specially the one which is just waiting for me to Buy, Then as the Time and Dips (including the Chinese Ban Dips 😅 as well) went by, This Sub taught me the Patience and the Hodling and the timing, This…
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The Polygon team offered an explanation and here it is. A few weeks ago, the Ethereum Layer 2 network hard-forked their blockchain, seemingly without explanation. As usual, NewsBTC got to the bottom of the case and presented all of the available information. The only piece missing was a promised official report with a detailed explanation from Polygon’s experts. Is this it? Apparently so. Related Reading | Community Voted, Why Uniswap Will Be Deployed On Polygon Before we get into it, let’s remember Polygon’s co-founder Mihailo Bjelic’s explanation as reported by us: “We’re making an effort to improve security practices across all Polygon projects,” Bjelic tweeted. “As a part of this effort, we are working with multiple security researcher groups, whitehat hackers etc. One of these partners discovered a vulnerability in one of the recently verified contracts. We immediately introduced a fix and coordinated the upgrade with validators/full node operators. No funds were lost. The network is stable.” It’s important to remember that the crypto ecosystem was concerned that the way that they managed to do all this seemed centralized. However, the co-founder assured everyone that “The network is run by validators and full node operators, and we have no control over any of these groups. We just did our best to communicate and explain the importance of this upgrade, but ultimately it was up to them to decide whether they will do it or not.” However, this was Polygon node operator Mikko Ohtamaa’s further complaint: “Next time it happens can you at least announce a critical update to all Polygon node operators. Now this looks super unprofessional and confusing for the community. It was not mentioned or pinned down in any major channels or publications.” What Did The Polygon Experts Say? Considering the infamous Poly Network exploit was merely in August this year, it’s good to hear Polygon is working hard in securing their whole operation. They’ve ”been investing significant effort and resources into creating an ecosystem of security expert partners, with the goal of improving the security and robustness of all Polygon solutions and products.” With that in mind, this is the company’s version of what happened: “Recently, a group of whitehat hackers on the bug bounty platform Immunefi disclosed a vulnerability in the Polygon PoS genesis contract. The Polygon core team engaged with the group and Immunefi’s expert team and immediately introduced a fix. The validator and full node communities were notified, and they rallied behind the core devs to upgrade the network. The upgrade was executed within 24 hours, at block #22156660, on Dec. 5.” So far, so good. This rhymes with Bjelic’s explanation and gives the community more details. However, we know that they barely notified the validators and node operators. They don’t even have to lie about it, because they do have a great explanation as to why they ran the whole operation in stealth mode. “Considering the nature of this upgrade, it had to be executed without disclosing the actual vulnerability and without attracting too much attention. We are still finalizing our vulnerability disclosure policy and procedures, and for now we are trying to follow the “silent patches” policy introduced and used by the Geth team.” According to Ohtamaa, “there are multiple open source projects out there” that have done similar operations in a more effective manner. And that might be true, but it doesn’t take from the fact that Polygon’s actions were justified. MATIC price chart on Binance | Source: MATIC/USD on TradingView.com The Aftermath In the end, the critical update worked out fine enough: “The vulnerability was fixed and damage was mitigated, with there being no material harm to the protocol and its end-users. All Polygon contracts and node implementations remain fully open source.” Related Reading | Polygon Opens Vault On MakerDAO, Commits $50 Million Worth Of Matic Tokens Remember, one of the early criticism was that they forked the Polygon blockchain “to a completely closed-source genesis.” Here, the official source assures that “contracts and node implementations remain fully open source.” Is there something else they want to tell us? “We are still working on closing the final proceedings with Immunefi and the whitehat hacker group, primarily in terms of their rewards and multiple rounds of reviews of the fixed vulnerability. We will post a detailed postmortem once this process is finished, likely by the end of next week.” The team will publish yet another post with even more details for the technically oriented people. That’s above our pay grade. Stay tuned to Polygon’s blog if you’re interested. Featured Image by Diana Polekhina on Unsplash – Charts by TradingView
I’ve been reading into polygon L2 and the competition of its full roll out. I’ve been wondering are their any reputable NFT projects set to debut around that time? I’ve been trying to figure out but don’t know how to research that. Any help? submitted by /u/BIGMEECH_300 [link] [comments]
GameFi initiatives have seen a steep increase since June 2021, owing to a sizable reduction in transaction costs and improved user experience.
Ferrari will be issuing exclusive digital content for its fans in collaboration with the Swiss blockchain startup Velas.
It came to light that 52 lawmakers failed to comply with the Stock Act, which aim to prohibit lawmakers insider trading, On being asked, most of them citied clerical errors,oversights,inattentive accountants to report those trades. The lawmakers who violate the Stock Act would have to pay fine of $200,which can be waived by House or…
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Just a warning to those who have family members, friends, or acquaintances to write down any emails, passwords, and their seeds. I had a family member buy roughly 2 grand worth of loopring last year when it was pennies on the dollar. They recently tried to open their wallet and low-and-behold they couldn't remember what…
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The number of Ethereum addresses holding at least 1,000 ETH dropped to a four-year low this week.
