Ethereum mined by NBA Team

Sacramento Kings is the first team to enter the crypto space: they are presenting crypto to fans and suggesting a local group with black communities for ether
29 June 2018   668

The Sacramento Kings, the American basketball team, began mining ether 3 weeks ago applying Nvidia mining rigs. The owner of the NBA team, Vivek Ranadive, is a computer software entrepreneur as well, and the founder of Tibco. The Sacramento Kings have been lauded by the magazine Fast Company’s yearly ranking of the world’s Most Innovative Companies in Sports.

The Kings were the first NBA team to adopt bitcoin as payment at its goods store and for season tickets in 2014. Vivek Ranadive was referred claiming that the team was a big fan of Ethereum, and planned to do something to give back to the local community. “It was obvious to us,” he explained, “let’s start mining cryptocurrency.” The benefits from the mining would go to a local group that aids blacks communities as part of a charity program.

The home to the Sacramento Kings, the Golden 1 Center, an indoor arena, has a solar rooftop that can produce up to 1.2 megawatts. Setting solar power was part of the Sacramento Kings ownership’s goal to have the country’s most technologically developed entertainment center. 

The NBA team’s business officials declared that the mining project has no direct connection with basketball at the moment, but they are sure that when players come to Sacramento they will be aware they can be presented to advanced technologies and to tech firms.

Ethereum VM May Have Vulnerability

The vulnerability is reported by NettaLab Twitter account
12 November 2018   147

On November 9, a statement appeared in Netta Lab’s Twitter account that the organization discovered a vulnerability in the Ethereum virtual machine that allows to execute smart contracts endlessly without paying for gas online. The researchers also allegedly turned to the operator of the American database of vulnerabilities, where they registered the corresponding discovery.

Netta Labs discovered an Ethereum EVM vulnerability, which could be exploited by hackers. The vulnerability can cause smart contracts can be executed indefinitely without gas being paied.

Netta Lab's Twitter

At Netta Lab's request, Google demonstrates the site of the project, which specializes in auditing smart contracts under the Netta Lab brand, but the Twitter accounts of the projects do not match. Note that the profile that reported the vulnerability was registered in November.

Many users expressed doubts about the authenticity of the information that appeared, but then the creator of the NEO project Da Hongwei said that he spoke with the CEO of Netta Labs and asked the researchers to audit the NEO virtual machine.

Nevertheless, Vitalik Buterin wrote on Reddit that this is a vulnerability in the Python-implementation of the virtual machine, which was first reported on GitHub 9 days ago. This means that the main clients (go-ethereum; parity and cpp-ethereum) are not affected.