Efficient Blockchain Fork claimed by Ethereum Classic

So-called "difficulty bomb" has been obviated by Ethereum classic: the upgrade took place at block 5,900,000, according to network data and project developers
30 May 2018   1509

Created to increase the difficulty of mining its blockchain through the time, the basic code was a feature of the original ethereum codebase (which later was divided into ethereum classic and ethereum) in 2016. Though it is hard to account for exact percentages in terms of how many nodes renewed their software, developers of the project declared that mainly exchange nodes and mining pools reported about updating their software long before the fork.

There were no features of any fails or bugs in the hours directly after the fork. The upgrade is awaited to reduce the amount of time it takes to create a block. Therefore, the upgrade states both technical and ideological difference between the ethereum classic and ethereum blockchains.

Because the ethereum community stays attached to passing to a proof-of-stake consensus system, the ethereum classic supporters have chosen to go on using proof-of-work, as its members maintain that, of the different methods to achieve consensus over block validation, it resists centralization best.

Especifically, advocates contend that proof-of-work systems demand their validators (miners) to continuously invest in hardware and  consequently in the blockchain. Deliberation on the fork began as early as 2016, and because of the broad  discussions, the upgrade was not expected to be complicated or controversial.

Quoine Found Guilty for Reversing B2C2's Deals

Quoine exchange cancelled B2C2 transactions worth 3085 BTC due to the fact its ETH to BTC exchange rate was 125 times higher than average
15 March 2019   105

The Singapore International Court of Commerce has found Quoine guilty of canceling B2C2 liquidity provider transactions in the amount of 3,085 BTC. It is reported by The Business Times.

According to the court, having canceled the transactions concluded by B2C2 on the “uncharacteristic” rate in April 2017, Quoine “violated the terms of the contract and did not comply with its obligations”.

B2C2 created seven orders for the sale of Ethereum with 10 bitcoins per unit, which was 125 times higher than the exchange rate set at that time.

The funds received were automatically credited to the B2C2 exchange account, and 308 ETH - was withdrawn. The next day, Quoine rejected the deal, and the balances on the accounts were set at the values ​​before they were concluded.

B2C2 through court demanded to recover 3085 BTC from Quoine, because under the terms of the contract the exchange “had no right to unilaterally cancel the transaction after their conclusion”.

However, the court, having recognized the exchange as guilty, did not agree with the amount of compensation, taking into account the “substantially increased” rate of Bitcoin from the moment of filing the claim. Its size will be determined at the time of the next hearing.

Note that at the time of the transaction 3085 BTC amounted to $ 3.7 million, at the current exchange rate this amount would be almost $ 12 million.

Quoine representatives did not rule out that they would appeal this judgment.