Blockchain 

PIVX, Possibly Other PoS Chains Vulnerable to Bug, Attackers Profit

Private transactions cryptocurrency PIVX and over 200 other blockchains are vulnerable to a vulnerability allowing the attacker to obtain disproportionately high staking rewards. A major staking vulnerability Cryptocurrency consulting firm Lunar Digital Assets claimed in a post published on its website on Aug. 12 that a staking vulnerability is being used across PIVX and its forks. The weakness reportedly allows the attacker to obtain mathematically impossible staking rewards on vulnerable Proof of Stake (PoS) chains. According to the post’s author, the PIVX development team claimed to have solved the issue…

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Blockchain 

Tether USDT is Launching on a ‘Pure PoS’ Blockchain, Algorand

The Tether (USDT) stablecoin is about to be released on its fifth blockchain, Algorand, the company announced in a tweet published on July 17. Tether on a ‘Pure’ Proof-of-Stake Blockchain In a press release concerning the upcoming release of the stablecoin on the Algorand blockchain published by Tether, the company explains some characteristics of the chain.  According to Tether, Algorand is trying to develop a “public, permissionless proof-of-stake (PoS) blockchain with an open-source approach.” Tether’s chief technology officer, Paolo Ardoino, commented on the development, saying:  “Extending Tether into the Algorand…

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Ethereum 

Phase Zero Code for Ethereum PoS Transition Can Be Completed by June 30: ETH Core Devs

A code for the Ethereum (ETH) blockchain’s first-stage transition to a proof-of-stake (PoS) consensus algorithm could be completed by June 30, as stated in an Ethereum core developers meeting on May 2. In a bi-weekly call, Ethereum researcher Justin Drake claimed that the developers team expects to prepare code specifications for phase zero by the end of June. Drake stated: “We’re still very much on track. Still, [code] simplifications are coming through, which is great and the process of fine combing is also for finding these final bugs.” Phase zero…

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Ethereum 

Vitalik Buterin Proposes Higher Staking Rewards for Upcoming ETH PoS Algorithm

Ethereum co-founder Vitalik Buterin proposed a higher staking reward for the upcoming proof-of-stake (PoS) algorithm implementation on the Ethereum blockchain on GitHub on April 20. Per the proposal, 2,097,152 ether per year would be issued when 134,217,728 ether is staked and validating transactions, resulting in an annual return for stakers of 1.56%. The current circulating supply of the coin is 105,764,762 ETH, which means that this amount of stacked ether is a theoretical maximum of sorts. The proposal also estimates the annual return for various quantities of validating ether. For…

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Blockchain 

How MIT Joined Ethereum in the Race for the First PoS Blockchain

As reported by Cointelegraph on Jan. 24, the press service of the Massachusetts Technical Institute (MIT) announced the development of a new cryptocurrency based on the proof-of-stake (PoS) protocol. It is expected that the nodes of the new network will be able to verify transactions with a throughput increased by 99 percent compared to the Bitcoin blockchain and by 10 percent compared to Ethereum. If, as developers claim, a cryptocurrency on a pure PoS protocol will be launched in 2019, then it will become the first such solution embodied in practice. Ethereum —…

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Blockchain 

‘Legendary’ PoS Creator Announces Plans to Remove Entry Barriers for Developers in 2019

A blockchain project with the ambition of being at the forefront of a “brand-new digital economy era” has unveiled its vision for 2019-2020, with five important milestones that will enable its technology to evolve in line with the needs of its user base. VEE, the latest blockchain database project by Sunny King — the creator of PoS — is based on supernode proof-of-stake (SPoS) — a consensus algorithm that the company says is “currently up, running and extremely stable.” With a success rate of up to 99.99 percent for blocks…

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