Amid IRS bounty and competitor progress, Monero developers ship a major update

First announced in September, Monero developers today went live with a network update featuring a new version of its node software, codenamed ‘Oxygen Orion.’ The product of 30 contributors, the update promises significant improvement across nearly all aspects of the privacy-focused cryptocurrency’s performance.  The highlight of the new update is the compact linkable spontaneous anonymous group (CLSAG) feature. According to the Monero blog, CLSAG will reduce transaction sizes by 25% and improve transaction times by 10% while maintaining transactional privacy. The developers wrote:  “CLSAG enables smaller and faster transactions with…

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Inside the blockchain developer’s mind: The upgradeability crisis

This is Part 1 of a three-part series in which Andrew Levine outlines the issues facing legacy blockchains and posits solutions to these problems. Read Part 2 on the vertical scaling crisis here and Part 3 on the governance crisis here. It is our belief that there are three fundamental problems, or crises, that are standing in the way of blockchain adoption: upgradeability, vertical scaling and governance. In this article, we are going to explore the upgradeability crisis and how computer operating systems could serve as a useful analogy that…

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Inside the blockchain developer’s mind: The vertical scaling crisis

This is Part 2 of a three-part series in which Andrew Levine outlines the issues facing legacy blockchains and posits solutions to these problems. Read Part 1 on the upgradeability crisis here and Part 3 on the governance crisis here. The advent of the internet has revealed that we have a digital self that can amplify our real-world power thanks to the ability to interact with people anywhere on Earth and coordinate actions that our physical selves never could. But our digital selves are shackled — imprisoned on private computers…

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Inside the blockchain developer’s mind: The governance crisis

This is Part 3 of a three-part series in which Andrew Levine outlines the issues facing legacy blockchains and posits solutions to these problems. Read Part 1 on the upgradeability crisis here and Part 2 on the vertical scaling crisis here. Upgradeability, vertical scaling and governance: What all three of these issues have in common is that people are attempting to iterate on top of a flawed architecture. Bitcoin and Ethereum were so transformative that they have totally framed the way we look at these issues. We need to remember…

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Developers propose a solution against ‘stealth mining’ to Ethereum Classic community

Earlier today, Dexaran presented its solution to the Ethereum Classic (ETC) community aimed at preventing future 51% attacks. The presentation came a week after Cardano’s IOHK introduced its checkpointing proposal. Dexaran notably used IOHK’s Crowdcast channel for its competing solution. This new proposal is founded on the assumption that many 51% attacks involve so-called “stealth mining”, where an attacker, in isolation, would secretly mine a longer fork of the chain. This technique was used in a recent attack on the ETC, which cost OKEx $5.6 million. The proposal hinges on the…

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Developers Plan to Compete in Bitcoin Cash-Fueled Hackathon ‘BCH Devcon III’

On September 4-6, Bitcoin Cash engineers will be holding the third annual developers’ conference dubbed “BCH Devcon III.” More than 30+ bitcoin cash ($8,300) will be available in prizes for winning teams who participate in the 72-hour hackathon. Software developers are gearing up for the third annual hackathon, BCH Devcon III, an event that’s aimed at fueling Bitcoin Cash (BCH) development. The event’s website explains that the community of programmers will gather for 72 non-stop hours of hacking and all the participants can compete for the top prizes. Similarly to…

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Ethereum Developers Discuss Potential Ways to Avoid ETC’s Fate

In a Core Devs meeting on Friday, Ethereum (ETH) developers discussed potential measures that could be taken to prevent successful 51% attacks from occurring. The discussion was inspired by this week’s 51% attacks on Ethereum Classic (ETC) — a network that represents the original state of Ethereum where the consequences of the DAO hack in 2016 were not reverted. The original attack, which occurred between July 31 and Aug. 1, was revealed to be a carefully orchestrated attempt at a double-spend that netted over $5 million in ETC to the…

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Developers Release Validator Launchpad for Ethereum 2.0 Final Testnet

With the Ethereum 2.0 final testnet set to be released on August 4, developers have now opened the doors to validators. According to a July 27 Ethereum blog, the research team behind ETH 2.0 has announced the release of the validator launchpad for the multi-client testnet Medalla. The launchpad is part of the testnet launch stage, prior to Phase 0, in which the network will move towards Proof-of-Stake (PoS).  “We’re releasing it now so that you can keep track of, and make deposits into, the upcoming Medalla multi-client testnet,” the…

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Gitcoin and Polkadot Cooperate to Bring New Developers to Blockchain

A partnership announced on June 16 between the Gitcoin project and Polkadot will help the interoperable blockchain platform’s developers find community support and funding. Gitcoin’s current function can be considered as an experiment in a new way of funding public goods, based on the concept of Capital-constrained Liberal Radicalism, or CLR,  championed by Ethereum’s (ETH) co-founder Vitalik Buterin. This works through Gitcoin Grants, a hybrid public funding mechanism that relies both on community contributions and wealthy donors.  CLR is similar to the concept of matching donations, but they are not…

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Ethereum Developers Roll Up Their Sleeves in Hunt for Scalability Cure

The Ethereum team has been trying to solve the blockchain scalability problem since 2014. During that time, solutions such as Raiden, Plasma, zk-SNARKs, sharding and rollups appeared in the developers’ tool kit. However, the implementation of some of them was constantly delayed, while others proved to be of limited efficacy. This was the issue until Ethereum’s Istanbul hard fork was implemented in December 2019, which gave hope that the network can finally become suitable for corporate use. Cointelegraph attempted to figure out whether the situation with the second-largest cryptocurrency’s scalability…

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