Ethereum’s Vitalik Buterin Discusses Bitcoin Bubble and Blockchain Fame – BTCMANAGER

By Samantha Chang      April 23, 2018

Ethereum co-founder Vitalik Buterin is reportedly worth more than $400 million, but he’s nonchalant about his vast wealth. The 24-year-old, says today’s bitcoin millionaires became rich mostly through luck, although most won’t admit it.

The Difference Between Intelligence and Luck

Cryptocurrency bulls like to think they’re smarter than “the masses” for buying crypto before it became trendy, but Buterin says no one could have foreseen the bitcoin bubble and ensuing riches it bestowed on early adopters.

“It’s the luck of the draw, where everyone who won the draw seems to feel like they deserved it for being smarter,” Buterin told the Financial Times April 19, 2018. “[They think] ‘I was loyal and I was virtuous, and I held through, and therefore I deserve to have my five mansions and 23 Lambos!’”

This sentiment is not the first time that Buterin has mocked the “When Lambo?” trend popular among new crypto millionaires. He finds the obsession with cryptocurrency prices and get-rich-quick schemes unseemly. In fact, Vitalik is aloof regarding the daily price swings of bitcoin and ether, Ethereum’s native currency.

When Buterin’s net worth started ballooning into the millions, his first thought wasn’t, “Yay, I get more stuff!” he recalled. “It’s more certainty that I won’t have to worry about money for a long time.”

Buterin: We’re Sort Of In A Bubble

While skeptics dismiss bitcoin as a bubble that’s bursting, even crypto evangelists like Buterin concede that we are in a bubble-like environment.

“We’ve created a culture where some totally random project raising something like $8 million is like, ‘Oh, yeah that’s peanuts,’” he says. “[That’s how you know] you know you’re in a bubble!”

More at: Ethereum’s Vitalik Buterin Discusses Bitcoin Bubble and Blockchain Fame – BTCMANAGER


Ethereum Foundation Awards Millions In New Grant Funding – CoinDesk

By Nikhilesh De      March 8, 2018

The non-profit dedicated to advancing and maintaining ethereum’s software  has officially announced the recipients of its first wave of development grants.

A total of 13 projects received more than $2.5 million combined to work on scalability, security, development experiences, user interface study and other derivatives of the ethereum blockchain, according to a Wednesday announcement.

More at: Ethereum Foundation Awards Millions In New Grant Funding – CoinDesk

Ethereum’s smart contracts are full of holes – MIT Technology Review

By Mike Orcutt      March 1, 2018

Blockchain-powered computer programs promise to revolutionize the digital economy, but new research suggests they’re far from secure.

Computer programs that run on blockchains are shaking up the financial system. But much of the hype around what are called smart contracts is just that. It’s a brand new field. Technologists are just beginning to figure out how to design them so they can be relied on not to lose people’s money, and—as a new survey of Ethereum smart contracts illustrates—security researchers are only now coming to terms with what a smart contract vulnerability even looks like.

More at: Ethereum’s smart contracts are full of holes – MIT Technology Review

Researchers Explore Eclipse Attacks on the Ethereum Blockchain –

By Amy Castor, Bitcoin Magazine      March 1, 2018

An eclipse attack is a network-level attack on a blockchain, where an attacker essentially takes control of the peer-to-peer network, obscuring a node’s view of the blockchain.

In a new paper titled ” Low-Resource Eclipse Attacks on Ethereum’s Peer-to-Peer Network ,” Sharon Goldberg, an associate professor at Boston University; Ethan Heilman, a Ph.D. candidate at Boston University; and Yuval Marcus, a researcher at the University of Pittsburgh, describe a way to carry out an eclipse attack on the Ethereum network.

(The researchers disclosed their attacks to Ethereum on January 9, 2018, and Ethereum developers have already issued a patch – Geth v1.8.1 – to fix the network.)

In speaking with Bitcoin Magazine , Goldberg explained the research, how it compares to Bitcoin eclipse attacks and why she thinks the work is important.

First, she emphasized that working with Ethereum developers to fix the vulnerability was a smooth process. “It was a very functional, easy disclosure,” she said.

More at: Researchers Explore Eclipse Attacks on the Ethereum Blockchain –

Ethereum Improvement Proposal (EIP) Issue: What is going on with Ethereum? – Smartereum

By Adam Web      February 16, 2018

Yoichi Hirai, Ethereum Code Editor Resigns Over Legal Concerns. Ethereum Code Editor Has Resigned Over Ethereum Improvement Proposal (EIP) Issue.

Japan: Code Editor for Ethereum, Yoichi Hirai, quits his office following his concerns that the Japanese law would be potentially violated by an Ethereum Improvement Proposal (EIP) over a standardized format for lost fund recovery.

Aside tweeting his resignation, Yoichi also posted a more dramatic explanation of the motives behind his resigning on Github:

“My blood pressure is higher since I found this draft. I don’t sleep well. My family accuses me of mental absence. I believe these are signs that my abilities are not ready for the task of the EIP editorship. I resign from the post of an EIP editor.”

More at: Ethereum Improvement Proposal (EIP) Issue: What is going on with Ethereum? – Smartereum

Vitalik Hopes New Ethereum Fund Will Deliver on Hype – CoinDesk

By Annaliese Milano      February 16, 2018

Notable ethereum stakeholders are joining forces to create a fund for projects building on the world’s second-largest blockchain.

Called the Ethereum Community Fund (ECF), the effort is the result of a collaboration between Cosmos, Golem, Global Blockchain Labs, Maker, OmiseGo, Raiden and Tendermint, with those involved agreeing to work to connect ethereum projects with companies that could benefit from the blockchain services they offer.

It will also support the projects in the form of a grant program that will function as “a permanent financial endowment” for selected projects, according to a release.

Perhaps most notably, however, the fund boasts the involvement of ethereum creator Vitalik Buterin, who confirmed he is an advisor in an email to CoinDesk.

“Ethereum has grown beyond my expectations over the last few years, but the work is clearly not finished,” Buterin said in a statement.

He continued:

“Delivering value that matches the hype should be the mantra of 2018; efforts such as the ECF which help organize the development of the ecosystem are going to help make that possible.”

More at: Vitalik Hopes New Ethereum Fund Will Deliver on Hype – CoinDesk

Blockchain: A Very Short History Of Ethereum Everyone Should Read – Forbes Tech #BigData

By Bernard Marr, Contributor      February 2, 2018

Even those who are not familiar with blockchain are likely to have heard about Bitcoin, the cryptocurrency and payment system that uses the technology. Another platform called Ethereum, that also uses blockchain, is predicted by some experts to overtake Bitcoin this year.

What is Ethereum?

Ethereum is an open-source, public service that uses blockchain technology to facilitate smart contracts and cryptocurrency trading securely without a third party. There are two accounts available through Ethereum: externally owned accounts (controlled by private keys influenced by human users) and contract accounts. Ethereum allows developers to deploy all kinds of decentralized apps. Even though Bitcoin remains the most popular cryptocurrency, it’s Ethereum’s aggressive growth that have many speculating it will soon overtake Bitcoin in usage.

More at: Blockchain: A Very Short History Of Ethereum Everyone Should Read – Forbes Tech #BigData