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Santander confirms fiat-backed token project on Ethereum Blockchain

from CoinTelegraph.Com News http://ift.tt/2d7tE3z
 via ResoNova


Santander, a part of the Spanish Santander Group is now using the Ethereum Blockchain to develop a public digital cash system using the Ethereum Blockchain. Santander officials confirmed this project which will make the bank the first to use an existing public Blockchain for issuing digital currency. The project was announced by Ethereum developer and founder of Ether.camp, Roman Mandeleil at Devcon-2 during a panel talk on Sep 20. Santander’s goal is to issue digital bank notes to the Blockchain community to encourage development and use of the token. This digital cash should be recognized and accepted by the bank’s various branches in the near future. Cash ETH redeemable tokens Mandeleil told IBTimes that the token itself is named “Cash ETH” and is fully backed by “real money” in Santander bank. He also added that all tokens are redeemable for fiat currency at any time. The funds will be all accessed through …

Transaction spam attack: Next Steps

Today the network was attacked by a transaction spam attack that repeatedly called the EXTCODESIZE opcode (see trace sample here), thereby creating blocks that take up to ~20-60 seconds to validate due to the ~50,000 disk fetches needed to process the transaction. The result of this was a ~2-3x reduction in the rate of block creation while the attack was taking place; there was NO consensus failure (ie. network fork) and neither the network nor any client at any point fully halted. The attack has since, as of the time of this writing, mostly halted, and the network has for the time being recovered.The short-term fix is for users, including miners, enterprise users (including exchanges) and individuals to run geth with the flags:--cache 1024 --targetgaslimit 1500000 --gasprice 20000000000Or Parity with the flags:--cache-size-db 1024 --gas-floor-target 1500000 --gasprice 20000000000 --gas-cap 1500000This (i) increases the cache size, reducing the number of disk reads that nodes need to …

The Ethereum network is currently undergoing a DoS attack

URGENT ALL MINERS: The network is under attack. The attack is a computational DDoS, ie. miners and nodes need to spend a very long time processing some blocks. This is due to the EXTCODESIZE opcode, which has a fairly low gasprice but which requires nodes to read state information from disk; the attack transactions are calling this opcode roughly 50,000 times per block. The consequence of this is that the network is greatly slowing down, but there is NO consensus failure or memory overload. We have currently identified several routes for a more sustainable medium-term fix and have developers working on implementation.It is highly reccomended to switch to Parity mining. Use these settings:–cache-size-db 1024 –gas-floor-target 1000000 –gasprice 50000000000Parity mining guides:
http://ift.tt/2cJDvwx
http://ift.tt/2cO5Wg2
If you continue to use geth, use the following settings:
–cache 1024 –targetgaslimit 1000000 –gasprice 50000000000The post The Ethereum network is currently undergoing a…

ARRESTED: Paxful Exchange CEO And CTO Arrested In Miami On Weapons And Drugs Charges

The greater Bitcoin community has been besieged by various levels of criminal activity, particularly over the last three years, as Bitcoin has become much more noticed by the mainstream. From the Silk Road’s dominance of the deep webs’ drug trade, to various ransomware and money laundering schemes, Bitcoin has attracted more than just your 21st century early adopting tech geek to its skill set. This weekend, Bitcoin’s public image took another hit, as the CEO and the CTO of the popular peer-to-peer exchange Paxful were arrested in South Beach on multiple weapons and drugs charges.

...Yousseff faces charges of cocaine and hashish possession with the intent to distribute. Schaback and Suhharev face charges of improper exhibition of a dangerous weapon or firearm. All men posted the standard $1000 bond and were released. They will face another bond hearing shortly. 
 In light of this breaking news, the eyes of the peer-to-peer bitcoin exchange community are turning to Paxful's recent…

Security alert – All geth nodes crash due to an out of memory bug

Security AlertAffected configurations: GethLikelihood: HighSeverity: HighSummary: geth nodes running out of memory and crashing on block http://ift.tt/2cUzDIBDetails: TBDProposed solution: Switch to an alternative client until fix is provided:Parity implementationThe post Security alert – All geth nodes crash due to an out of memory bug appeared first on Ethereum Blog.

from Ethereum Blog http://ift.tt/2cUAARd
via ResoNova

ResoNova Investor Wisdom - September 17, 2016 at 10:29PM

A WINNER IS JUST A LOOSER WHO TRIED ONE MORE TIME Success is nothing more than the culmination of many failures. KEEP GOING! www.ResoNova.com #success #failure #resonova #lamborghini #motivation #fintech #bitcoin #cryptocurrency #ethereum #blockchain - via Instagram https://www.instagram.com/p/BKewVRUhqki/