Abra is to support ethereum and strengthen protection

Representatives of the company unveiled their plans at the blockchain technology summit
29 November 2017   1281

Abra declared that their bitcoin wallet app would support ethereum. The news was announced during the annual Consensus: Invest in New York on November 28. From that moment Abra app works with ethereum, bitcoin and some other digital currencies. What is more, users can keep different types of cryptocurrency (e.g. dollars, ethereum and bitcoin) in one application thanks to the update.

Developers of the app are planning to implement multi-signature transactions instead of single-signature system using now. It means that the operation can be completed only if both a client and the app are ready to sing a transaction.

Abra also projects to bring “two of three” signature system using a third-party service. After this update a Contract Oracle acquires a right to sign the transaction for one of the parties. Bill Barhydt, the founder of Abra, noted that developments will help to tighten security and make exchange operations more handy.

Constantinople to be Postponed

Ethereum's hardfork will be late due to critical vulnerability found
16 January 2019   151

A scheduled upgrade of the Ethereum network called Constantinople was postponed indefinitely after a critical vulnerability was discovered in one of the improvements, CoinDesk reports.

This is a vulnerability in EIP-1283, which, as identified by the audit company SmartSecurity smart contracts, gave hackers the opportunity to steal user funds.

During a video conference on Tuesday with the participation of Ethereum developers and other clients and projects working on the network, it was decided to temporarily postpone the activation of the hard forks.

In particular, Vitaly Buterin, developers Hudson Jameson, Nick Johnson and Evan van Ness, as well as release manager of Parity Afri Shoedon took part in the meeting. Discussing the revealed vulnerability, they agreed that it would be impossible to eliminate it before the appointed time for hardfork (around 04:00 UTC on January 17).

A vulnerability, called a reentrancy attack, allows an attacker to repeatedly enter the same function and infinitely withdraw funds.

Imagine that my contract has a function which makes a call to another contract… If I’m a hacker and I’m able to trigger function a while the previous function was still executing, I might be able to withdraw funds.

Joanes Espanol

CTO, blockchain analytics firm Amberdata

According to him, this is a lot like the vulnerabilities that were discovered in The DAO in the summer of 2016.

Representatives of ChainSecurity also noted that up to the Constantinople hard fork, data storage on the network cost 5,000 units of gas, which exceeds the 2,300 gas usually needed to call the “transfer” and “send” functions. After the upgrade, “dirty” storage operations will cost 200 units of gas, and an attacking contract can use 2,300 gas to successfully manipulate the variables of vulnerable contracts.

New date of hardfork not yet determined.