Bitcoin reached new record: over $3800

First cryptocurrency continues it's rapid rise, now costs more than $3800 on the several exchanges
12 August

On Saturday, August 12, the price of Bitcoin updated a new historic high, surpassing a mark of $3800 on a number of exchanges.

Let's check the most popular exchanges.

  • Bitstamp $3758.98
  • Bitfinex $3754.3
  • Kraken $3819.46 
  • GDAX $3835.00 

Bitcoin rate at GDAXBitcoin rate at GDAX

According to Coinmarketcap, the average Bitcoin price is $3773.44 and the market cap is $62 271 570,944.

Bitcoin charts, last 7 daysBitcoin charts, last 7 days

Another interesting fact - each of top 10 cryptocurrencies have a market over $1 billion.

Top 10 cryptocurrencies
Top 10 cryptocurrencies

Yesterday, Bitcoin beat a $3500 barrier. How long this rapid rise will last? Time will show.

Ethereum network is still unstable

Byzantium had executed on Monday, but developers aren't ready to call the software transition complete
18 October

Organizations and developers are better off refraining from launching large projects until the Ethereum network is fully stable after the recent Byzantium update. This is said by the Gavin Wood, Parity Technologies head and reported by the Coindesk.

Since new versions of the software were released just days before the fork, much of the network has not yet been updated. So, at the time of press, slightly more than 25% of Parity customers updated, in Geth this indicator is slightly higher - about 59%. So, in total, the update was made about 45% of the network.

Another aspect that should also be taken into account is the short time for testing. In particular, the developers recalled previous versions of the software, discovering critical errors that could make the network vulnerable to DoS attacks or lead to incompatibility between nodes and, as a consequence, network sharing.

Therefore, the question of how safe the network is at the moment is fully justified and, taking into account what has been said above, remains open. This is exactly what Gavin Wood warned, recommending at this stage to refrain from launching large-scale projects.

In addition to the nodes that have yet to update, there is also a possibility that in the current Byzantium software there may be bugs that endanger the security of the Ethereum network. The most dangerous among them is a bug of consensus, in which nodes can not communicate. Its result can be the separation of the block-man into several incompatible chains.

As far as is known, at the moment developers are conducting extensive tests, trying to detect such bugs before they are active. As Gavin Wood says, if the network does contain such a bug, it will take several days to prove itself.

I don't think anyone believed the network was going to self-combust on block 4,370,000.
 

Gavin Wood
Head, Parity Technologies

The head of Parity Technologies is also convinced that if problems are discovered, the Ethereum development team will quickly release new updates designed to prevent any harm to the platform.