Altcoins News
By Maheen Hernandez
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Developers of Constantinople had to delay the update due to security vulnerabilities. Subsequently, the price of Ethereum plunged today.
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Constantinople is the code name for Ethereum Improvement Proposal 1283. It was scheduled to be live on Wednesday; however, a security company pointed out that there is a…
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Reentrance attacks refer to a hacking situation where malicious players will be able to withdraw money from the same source multiple times.
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Joanes Espanol, CTO of Amberdata, a blockchain analytics firm implied that an attacker would essentially withdraw funds forever.
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The vulnerability has been reported to have occurred from EIP-1283, which does the job of introducing cheaper gas cost during SStore operations.
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Node operators, miners, and cryptocurrency exchanges have been advised to upgrade to emergency versions of Ethereum.
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This had happened at a time when the coin had already seen 12 months of horrible price decline, which is a 90% decline from its all-time high.
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At 09:30 PM EST the price of ETH dropped further down by 6% at $120.01. No new date has been announced for the fork.
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The decision to postpone the hard fork was made in absolute caution. Ethereum did not want scammers to deceive investors by making use of this vulnerability.
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Following the news, there is a very sharp decline in the price trends of Ethereum. The intraday high was at $130 which went all the way low down to $116.
The Currency Analytics
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