Monoplasma Ethereum Scaling Technology Unveiled

Monoplasma developers claim that the technology will help solve the problem of repeat payments from one address to many others
18 February 2019   659

The developers of the blockchain platform Streamr presented a solution for scaling the Ethereum network called Monoplasma. It is reported by CoinDesk.

The creators of the project claim that the technology will help solve the problem of repeat payments from one address to many others. Monoplasma, in their opinion, will be useful to developers of decentralized applications focused on the distribution of dividends, staking and repeated airdrops.

The head of Streamr, Henry Pinkala, also demonstrated fake token airdrop for 200 thousand Ethereum addresses in a test network using Monoplasma.

You can receive money, but you can’t send back the other way. That would be like trying to send a message to your TV. 
 

Shiv Malik

Head of communications for Streamr

Thus, Monoplasma payment channels are reliably protected from the attack of double waste.

Streamr intends to use a new solution for the mass sale of user data on the blockchain, allowing the buying company to settle accounts with many users at once.

Synthetix Hacked, 37M sETH Stolen

This asset has extremely low liquidity in the secondary market, so it's hard to understand the value of stolen assets
25 June 2019   221

The platform for the release of synthetic assets using the blockchain of Ethereum Synthetix was attacked, which resulted in the seized 37 million sETH stolen, The Block reports. Estimating the value of these assets is problematic due to their low liquidity in the secondary market.

There has been an incident with the price feed of sKRW, we are currently investigating the root cause, but during the time when the price feed was returning the wrong value we believe an automated arb bot converted into sKRW and then into sETH.
 

Kain Warwick

CEO and Co-Founder, Synthetix

Warwick asked the bot owners to contact the platform to help eliminate the vulnerability and offered a reward. According to information from the Synthetix Discord channel, the team has full control over smart contracts and does not intend to resume transfers in the system until the problem is resolved.

According to The Block analyst Theo Leibowitz, the advantages of Synthetix are leveled by the vulnerability of the mechanisms for ensuring the value of synthetic products produced using the platform, which makes its users at significant risk. "The irony of this situation is that the currently suboptimal design of the Synthetix platform makes it's actually very difficult to realize gains from this kind of attack", he said

sETH is a synthetic version of Ethereum in the Synthetix system and can be used for trading on the project's stock exchange. The platform uses its own token SNX, which is necessary for the release of synthetic assets based on it.