Constantinople to be Postponed

Ethereum's hardfork will be late due to critical vulnerability found
16 January 2019   561

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.

DApp Transactions Volume to Reach All Time High

On the other hand, the number of new applications has noticeably decreased
07 May 2019   261

The volume of transactions carried out with the help of decentralized applications (DApp) in the Ethereum blockchain has reached a historical maximum, while the number of new applications has noticeably decreased, according to the latest report of the analytical company Diar.

In April, the volume of Ethereum processed through DApp, was greater than the previous record value recorded in December last year. According to analysts, the indicator grew for four months in a row, which is also the longest period of growth in history, and in April reached a value of 776,000 ETH. In dollar terms, the transaction volume was $ 132 million, which corresponds to an eight-month maximum.

Monthly ETH DApp Volumes Hits All-Time-High, Diar Report
Monthly ETH DApp Volumes Hits All-Time-High, Diar Report
New DApps Added Across Multiple Platforms, Diar Report
New DApps Added Across Multiple Platforms, Diar Report

At the same time, the number of new DApps running on the Ethereum network turned out to be minimal for the entire last year - 88 applications.

Last month wraps up a continuous declining trend in deployment since September 2018, bar a flurry of new DApps that went on-chain at the end of last year which marked the peak of development to date.

Diar Report

Earlier, Diar analysts reported that the volume of Ethereum transactions, expressed in the network's own cryptocurrency, peaked in December last year.