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Vulnerability Of Network Postponed Ethereum’s Hard Fork

15:39 16/01/2019
Vulnerability Of Network Postponed Ethereum’s Hard Fork

Constantinople, the Ethereum network update, is postponed indefinitely due to a detected critical vulnerability, CoinDesk reports.   

 

Developers found the vulnerability in EIP-1283 which is known as “reentrancy attack”. Crypto hackers could use it multiple times and constantly steal clients’ money. The problem was found out earlier by ChainSecurity firm’s engineers that audit smart contracts.    

 

The Ethereum team organized a video conference. Vitalik Buterin, many network developers, and other concerned experts participated in it. The discussion ended up with agreement that the problem couldn’t be solved by the set time of hard fork and that the network update should be postponed.     

 

Joanes Espanol, CTO of the Amberdata analytics firm, says that if a contract has the function of calling to another one, a crypto swindler may use it for stealing clients’ assets over and over again.    

 

ChainSecurity experts note that before blockchain update operations of data storage in it costed 5000 gas, and after the hard fork their cost will be 200 gas.   

 

Initially, Constantinople code activation was planned for 2018, but it was postponed due to problems on the Ropsten testnet.     

 

As previously reported, crypto exchanges Coinbase and Kraken will support Ethereum hard fork.

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