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Ethereum’s Vitalik Buterin comments on a scenario where a US Court orders an ETH hard fork

Priya

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Ethereum's Vitalik Buterin comments on a scenario where a US Court orders an ETH hard fork
Source: Unsplash

The decentralization of Ethereum [ETH], the world’s second largest cryptocurrency and leading smart contract platform, has always been questioned by many in the cryptocurrency community. This time around, Jimmy Song, a Bitcoin proponent and coder, posed two scenarios, asking what the outcome would be.

Interestingly, both scenarios were related to Vitalik Buterin, the creator of Ethereum. The first concerned a hard fork ordered by a court in the United States, where the users who lost money due to the parity bug would gain back access. The second pertained to the outcome: What if Buterin refused to comply with the orders?

Jimmy Song tweeted,

“Honest question: what would happen if a US court orders Vitalik to hard fork ETH to allow people who lost money on the parity bug to recover it? Further, what happens if Vitalik refuses, is found in contempt and starts sitting in jail?”

In November 2017, Parity released an official statement on Twitter about a bug in Parity multi-sig wallet that was accidentally triggered. The vulnerable smart contract that was deployed in July 2017 resulted in Ethereum worth over $280 million being frozen. Out of these funds, over $150 million was Polkadot’s funds, procured via an Initial Coin Offering.

Song’s question gained a lot of traction from the Ethereum community and other communities as well. It also grabbed Vitalik Buterin’s attention, who stated that this question was raised in the past, attaching the link to a video where he addressed these concerns.

The link redirected to TechCrunch 2018, where Buterin spoke about ‘Decentralization in the face of threats.’ Here, Buterin had presented a scenario where a third-party was pointing  a gun to his head, asking him to write a hard fork patch. In this case, Buterin stated that he would “definitely write a hard fork patch.” He said,

“[…] I will write up the code, I will publish it, I will do everything they say. If I do this, if I publish a hard fork patch to delete a bunch of accounts, how many people here would be willing to download and install the update and switch to that chain. I see relatively few raised their hands, this is called Decentralization.”

Source: Twitter

Source: Twitter

Jamyye, a Twitter user, commented,



“Anyone can code up a hard fork. It’s up to the community (pool owners, miners, full node operators, developers, exchanges) to decide which version of software to run. In the end, its all about the users who choose to use a version over the other, or none at all.”

Source: Twitter

Source: Twitter

However, this was followed by some questioning the outcome of the DAO hack, the cause for Ethereum’s chain split. Andres G Aragoneses, a Twitter user, said,

“good answer, but funnily enough, this actually didn’t happen with the DAO hard fork (and nobody knows if there were actually people with guns pointing to Vitalik’s head! heh)”





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Ethereum

Ethereum [ETH] witnessed 6 of 10 of its highest usage days in the past three weeks despite bear attacks

Akash Anand

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Source: Pixabay

Ethereum [ETH]’s movement on the cryptocurrency charts has been termed ‘slow’ or ‘unresponsive’ by many people involved in the world of digital assets. This subtle attack on the Vitalik Buterin co-founded network has been a prolonged process with many betting on the “death of the Ethereum network” due to the rise of faster and more efficient technologies and blockchain networks.

The second largest cryptocurrency, however, seems to have taken all these comments in stride as new data emerged that 6 of the 10 highest usage days in Ethereum’s history occurred over the past 3 weeks. Data from Etherscan.io showed a rise to a peak as Ethereum recovered well after the downturn in mid-January. The astounding peaks in terms of usage were also made evident when compared to the usage data in December/January 2018, the time period when the cryptocurrency market had reached its all-time high.

Some users in the cryptocurrency space were still critical about the data, with dk_holdnaut, a cryptocurrency enthusiast tweeting:



“I have never seen or even heard about anyone using any Ethereum app. If it was truly decentralized and censorship resistant I believe the people that value these perks the most atm and have the most funds to devote would’ve build a drug market dApp by now.”

However, Ethereum’s competition, EOS and Tron are not far behind. Just recently Tron, the Justin Sun-led cryptocurrency had announced that the TRX mainnet had crossed 2.5 million accounts, beating Ethereum with 8 million blocks. Ethereum, despite having the chronological advantage, had only 7.5 million blocks.

Ethereum had taken another hit when EOS set the record for the most number of cryptocurrency transactions in one day. Daniel Larimer, the CTO of Block.one had tweeted:

“#eos recently set a record of over 70m actions processed in one day. An average of over 810 actions per second. Our team is making great strides in further optimization and scaling. #B1JUNE”





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