Ethereum mining difficulty increased significantly

What is the reason of Ethereum's abnormal difficulty increase?
10 July
Ethereum

Open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements

For the last 24 hours, Ethereum mining difficulty increased by 20%. ETC mining difficulty is now almost 1208234552666986.0, this is all-time record. 

ethereum difficulty chartEthereum difficulty chart

This situation can be caused by so called "Difficulty bomb impact". 

Difficulty bomb impact
Difficulty bomb impact

Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks.

How this will affect the price of ETC in the medium and long term we cannot know. Today, 10 of July, Ethereum lost about 6% in last 24 hours. Now it's $229.

Ethereum price chart
Ethereum price chart

What is Ethereum Ice Age? 

The Ethereum Ice Age is a difficulty adjustment scheme that was put in place to ensure that everyone has an incentive to move to the new blockchain once the hard-fork is implemented. It was introduced on the 7th of September (2015-09-07), about 11 months ago and it's programmed to raise difficulty exponentially.

It's impossible for miners to keep up with the increase of difficulty which would raise block time and it would make the blockchain freeze, hence the name Ice Age.

Hack upd: 10,000 ETH returned to CoinDash

Hackers returned 10 000 ETH stolen during ICO to CoinDash
21 September

Hardly had the Ethereum Token Sale CoinDash started (July 17th), the website has been hacked.

The official CoinDash statement was out on the company’s website. Thus, $7 million were stolen during the attack. The perpetrator’s identity hasn’t been established.

Now the Israeli blockchain start-up CoinDash claims that hackers returned part of the funds stolen in July. In total, CoinDash got back 10,000 ETH (about $ 2.9 million at the current exchange rate). 

Today at 05:13:28 PM +UTC, 10,000 ETH were sent back from the hackers address (FAKE_CoinDash) to one of CoinDash’s ETH accounts; Address (Tx Link)
 

CoinDash team

A small translation tof 488 ETH was made from the address of the hacker on ShapeShift through several accounts on proxy servers. Noticing this transaction, the CoinDash team stepped up efforts to investigate the theft, including turning to the unit for countering terrorist activities in Israel.

Representatives of CoinDash also argue that they will continue to monitor the hacker's address.

Hype.codes will keep you updated.