Ethereum network is still unstable

Byzantium had executed on Monday, but developers aren't ready to call the software transition complete
18 October 2017   2297

Organizations and developers are better off refraining from launching large projects until the Ethereum network is fully stable after the recent Byzantium update. This is said by the Gavin Wood, Parity Technologies head and reported by the Coindesk.

Since new versions of the software were released just days before the fork, much of the network has not yet been updated. So, at the time of press, slightly more than 25% of Parity customers updated, in Geth this indicator is slightly higher - about 59%. So, in total, the update was made about 45% of the network.

Another aspect that should also be taken into account is the short time for testing. In particular, the developers recalled previous versions of the software, discovering critical errors that could make the network vulnerable to DoS attacks or lead to incompatibility between nodes and, as a consequence, network sharing.

Therefore, the question of how safe the network is at the moment is fully justified and, taking into account what has been said above, remains open. This is exactly what Gavin Wood warned, recommending at this stage to refrain from launching large-scale projects.

In addition to the nodes that have yet to update, there is also a possibility that in the current Byzantium software there may be bugs that endanger the security of the Ethereum network. The most dangerous among them is a bug of consensus, in which nodes can not communicate. Its result can be the separation of the block-man into several incompatible chains.

As far as is known, at the moment developers are conducting extensive tests, trying to detect such bugs before they are active. As Gavin Wood says, if the network does contain such a bug, it will take several days to prove itself.

I don't think anyone believed the network was going to self-combust on block 4,370,000.
 

Gavin Wood
Head, Parity Technologies

The head of Parity Technologies is also convinced that if problems are discovered, the Ethereum development team will quickly release new updates designed to prevent any harm to the platform.

BitPay to Add Ethereum Support

The company will implement Ethereum support on BitPay Visa prepaid debit cards and allow merchants to accept coin as a mean of payment
17 September 2019   231

BitPay cryptocurrency processing will add support for Ethereum in the coming weeks. Merchants will be able to accept a coin as payment, and users can store it in their wallet.

BitPay is consistently at the forefront of using cryptocurrency to solve real-world problems and offer our global customers the best options to accept and pay with multiple blockchain assets. As one of the largest crypto currencies by market cap and one used by thousands of companies, Ethereum is the next logical choice.
 

Stephen Pair

CEO of BitPay

The company will also implement Ethereum support on BitPay Visa prepaid debit cards.

It is exciting to see BitPay leading the way in integrating Ethereum into global payment systems. This truly opens up a new world of possibilities for the Ethereum ecosystem, and together we can continue to be a leading innovator for real world use cases for cryptocurrencies.
 

Vitalik Buterin
Founder and creator, Ethereum

At the moment, the service supports Bitcoin and Bitcoin Cash, and also offers merchants settlements in stablecodes USDC, GUSD and PAX and 12 world currencies.