The Ethereum (ETH) network today suffered what appears to be an unintended hard fork after reports of outages and irregularities emerged at infrastructure providers Infura and Blockchair.
Ethereum split for a moment
The Ethereum blockchain suffered a temporary hard fork earlier today as a result of a bug that had been partially fixed.
The issue was reported by three major third-party service providers, Infura, Binance, and Blockchair around 5am (EST).
According to Péter Szilágyi, team leader at the Ethereum Foundation, the bug was inactive for two years.
“At some point, the Ethereum developers introduced a code change that today led to a chain split starting at block 11234873 (07:08 UTC)”, said Nikita Zhavoronkov, lead developer of Blockchair, on Twitter.
During the incident Binance decided to pause Ethereum withdrawals and Changpeng Zhao reported on Twitter that “there was a possible hard fork of the Ethereum Blockchain at block 11234873”.
However, the most affected has been Infura since, when it fell, many of the services, such as the MetaMask wallet and the Coinbase Wallet, could not connect to the Ethereum Blockchain.
The error generated a lot of chaos in the crypto community and, above all, because there was no information about it.
Blockchain is the key to sustainable digital finance
Today a new report was published by the World Economic Forum where it is pointed out that Blockchain represents a central element of sustainable digital finance.
“We believe that sustainable digital finance will play an essential role in efficiently channeling this capital to drive innovation, growth and job creation … while supporting the transition to a sustainable low-carbon economy”, says the report.
However, the report does not look directly at crypto. In fact, the support directed towards Blockchain technology is a twist on criticism directed at Bitcoin.
KuCoin recovers stolen crypto funds
Crypto exchange KuCoin recovered 84% of the crypto funds that were stolen in September.
Johnny Lyu, CEO of KuCoin, pointed on Twitter that “so far, 84% of affected crypto assets have been recovered through approaches such as chain tracking, contract update and judicial recovery.”
It is worth remembering that the hack of the crypto exchange occurred on September 26. Likewise, the crypto exchange claims to know who stole the money and is working hand in hand with the police.
$ 360 million in crypto BTC tokenized on Ethereum
The slowdown in interest that DeFi generates in the crypto community was not an impediment in October for USD 360 million to be tokenized on the Ethereum blockchain in October.
As we reported today in CryptoTrend, according to Dune Analytics, only during the month of October 360 million dollars in Bitcoin were tokenized in Ethereum.
However, a slowdown was observed when compared to last month where USD 737 million in Ethereum entered.
Ray Dalio: Crypto BTC will be declared illegal by governments
Ray Dalio, a billionaire investor, spoke about crypto during an interview with Yahoo Finance.
Specifically Dalio explained the terrible crypto investment that Bitcoin represents; He assured that eventually governments will ban crypto and, in addition, Bitcoin is too volatile.
However, it seems that Dalio’s criticism of Bitcoin or crypto dates back to 2019 when there was little knowledge about cryptocurrencies. At the moment we have not seen a government that has been able to ban Bitcoin 100% and, in fact, that is its crypto appeal.
In a few lines …
- The crypto market capitalization reached an annual high of $ 465 billion.
- Celsius doubled its cryptocurrency reserves to $ 2.2 billion
- China Construction Bank, one of the largest banks in the country, today launched digital bonds that can be bought for Bitcoin, The Wall Street Journal reported.