Vitalik Buterin fake death crashes Ethereum

Ethereum lost 14.5% in 24 hours due to a fake "death"
26 June
Blockchain

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

The fake news appeared on 4chan’s /biz/ thread at 4:30PM EST on 25th June. The post had a header “Vitalik Buterin confirmed dead”, but no proof link was inside.

The "news" started to be actively discussed, however, none of the commentators could confirm the death of Vitalik.

After some time, comments became more and more "scary" due to the fact that there was no response from Buterin. But it is necessary to remember that he lives in Singapore, so, it was early morning there. 

Also, someone edited Wikipedia page about Vitalik, put it to past tense. 

Vitalik Buterin wiki page
Vitalik Buterin wiki page

Some "news" sites began to add details on Vitalik's fake death. Still, no proofs. 

Fake death news

Luckily, it was a hoax and Vitalik is alive and doing great.

This tragic "news" had a big negative effect on Ethereum's rate. 

Ethereum Chart
Ethereum Chart

In general, Ethereum lost 14.5% in 24 hours.

Ethereum network is still unstable

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

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.