Ethereum Classic releases Mantis client

Ethereum Classic developers has announced the release of Mantis client beta version
10 August 2017   1464

Grothendieck Team from IOHK has announced the release of Mantis beta version - an Ethereum Classic based client with a command line interface built specifically for the Ethereum Classic community.

According to the developers, there are several reasons for the Mantis development:

  1. IOHK wants to demonstrate that it has the technical competency and culture to be a leader for the development of ETC.
  2. IOHK wants to dispel the myth that ETC is a “copy and paste” coin that uses other people’s code, and show that it is an independent and viable alternative to Ethereum.
  3. The client is built in Scala, which is a functional programming language that offers security guarantees that other languages do not.

There were four functional milestones the company has been working on:

  • Blockchain download
  • Transaction execution
  • Command and query interface
  • Mining integration

Among the main properties of the release, the developers note Mist Integration; its multi-platform (the client had been tested on recent versions of Linux - 16.02, Mac OS - El Capitan, Sierra, and Windows -10, 8); testnet and private chain support and documented client configuration.

The developers draw attention to the fact that as this is not yet production ready and has not been optimized for performance, anyone using the beta release of the Mantis client should be using it on a testnet only and not with actual funds.

Though Mantis is still considered as “beta” software and the developers warn against using it with real funds, this represents an important move forward for the currency as up until now Ethereum Classic hadn’t significantly differentiated itself from its parent, Ethereum. The Mantis release shows that Ethereum Classic’s developers are indeed hard at work on their project. As Ethereum Classic’s development begins to diverge from Ethereum’s, it’s clear that Ethereum Classic is no mere clone. 

The Mantis release

Japan to Tighten Regulation Due to Zaif Hack

$ 62 000 000 worth cryptocurrency was stolen from the Zaif exchange few weeks ago
25 September 2018   83

Hacking of Zaif exchange is the reason for toughening control over the market by the financial regulator of Japan, Reuters reports.

The first measure taken was administrative sanctions against the exchange and its operator Tech Bureau Corp. The Financial Services Agency (FSA) has expanded the list of requirements for the latter, pointing out the need to identify preventive measures and search for the organizers of the theft.

Shortly before that, researchers of the Japanese financial company Tech Bureau Corp could not provide details of the theft of $ 62 million from the Zaif crypto exchange at the request of the FSA. The Osaka-based operator had to investigate the causes, consequences of the theft and options for compensating the victims. According to the Agency, the financial company could not cope with the task.

According to the Tech Bureau, the exchange was hacked on September 14 within a few hours. The problem with the server was discovered by the site staff on 17 September. Official confirmation of the incident and notification of the authorities was made only a day later.

Recall, the theft of $ 60 million from the Japanese stock exchange Zaif caused a surge of volatility of bitcoin. For a short time the price was able to overcome the distance of $ 400.