[ANN] Krypton, KR - BaaS Corp & Open Source, Public Blockchain for Business/IoT

[shinohai]

~snip~
In short, Ethereum-based blockchains with overall network hashing power are completely vulnerable to this new type of 51% attack. Forks of ETH-based chains can be manufactured offline and moved into production with sufficient hashing power. At this time, there is no way to defend against this.
~snip~

Just to clarify, this is not really a new or novel attack, similar vulnerabilities were to be had on almost any forked coin during the clones heyday which was mitigated with kgw difficulty retargeting and such.

[1714008844]

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[1714008844]

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[amacar2]

We will be going to bitcoin POS or Ethereum based POS? I don't think there is any ethereum based POS coin out there, KR gonna be first? If so we may see great attention and i think this will also protect us from 51% attack in future  and also we will not lost smart contract features.

[V3n0m]

Bitcoin POS from my understanding

[amalgal]

----- ATTENTION KRYPTON -----


Krypton is temporarily moving KR to a POS chain until we can find a way to prevent further 51% attacks.


We are working with exchanges to get this new chain running and a coin swap done.

Later today, I will post complete instructions regarding the KR swap and the new Krypton wallets.

I will also post an explanation of our reason why we are doing this.

In short, Ethereum-based blockchains with overall network hashing power are completely vulnerable to this new type of 51% attack. Forks of ETH-based chains can be manufactured offline and moved into production with sufficient hashing power. At this time, there is no way to defend against this.

The Krypton Team is working hard to find a solution but will not risk your KR being stolen.

For this reason, we have halted trading on both Bittrex and Yobit and will be doing a coin swap to a POS (proof-of-stake) blockchain.


----- Please STOP mining KR  -----


Come to Krypton's slack or irc for the latest news.

irc freenode #kryptoncoin

http://slack.krypton.rocks

lol , you did swap from gaia to kr , now new swap from KR old to kr new , that will be next swap 

[covertress]

We will be going to bitcoin POS or Ethereum based POS? I don't think there is any ethereum based POS coin out there, KR gonna be first? If so we may see great attention and i think this will also protect us from 51% attack in future  and also we will not lost smart contract features.

This is not a move to an ETH-based POS.

It is a TEMPORARY move away from any type of ETH-based blockchain.

All ETH-based blockchains with network hashing power < 100GH are vulnerable to attack.

Krypton will not risk losing your KR.

We will find a solution.

Please be patient.

~~~

Original post about Krypton's move to POS: https://bitcointalk.org/index.php?topic=1368118.msg16143707#msg16143707

[xingrenhslwg132]

old coin, welcome to back

[covertress]

----- ATTENTION KRYPTON -----


Krypton is temporarily moving KR to a POS chain until we can find a way to prevent further 51% attacks.


We are working with exchanges to get this new chain running and a coin swap done.

Later today, I will post complete instructions regarding the KR swap and the new Krypton wallets.

I will also post an explanation of our reason why we are doing this.

In short, Ethereum-based blockchains with overall network hashing power are completely vulnerable to this new type of 51% attack. Forks of ETH-based chains can be manufactured offline and moved into production with sufficient hashing power. At this time, there is no way to defend against this.

The Krypton Team is working hard to find a solution but will not risk your KR being stolen.

For this reason, we have halted trading on both Bittrex and Yobit and will be doing a coin swap to a POS (proof-of-stake) blockchain.


----- Please STOP mining KR  -----


Come to Krypton's slack or irc for the latest news.

irc freenode #kryptoncoin

http://slack.krypton.rocks

PLEASE STOP MINING KR - Krypton has moved to a POS coin to prevent further attacks and to keep your investment safe from theft.

Only KR mined prior to the Bittrex shutdown (5:04PM EDT 2-Sept-2016) will be available to swap for the new POS KR.

[ttookk]

(snip)

All ETH-based blockchains with network hashing power < 100GH are vulnerable to attack.

(snip)

Could you collaborate with let's say Shift and Expanse to merge mine all three blockchains at once, effectively raising the difficulty?

[shveicar]

----- ATTENTION KRYPTON -----


Krypton is temporarily moving KR to a POS chain until we can find a way to prevent further 51% attacks.


We are working with exchanges to get this new chain running and a coin swap done.

Later today, I will post complete instructions regarding the KR swap and the new Krypton wallets.

I will also post an explanation of our reason why we are doing this.

In short, Ethereum-based blockchains with overall network hashing power are completely vulnerable to this new type of 51% attack. Forks of ETH-based chains can be manufactured offline and moved into production with sufficient hashing power. At this time, there is no way to defend against this.

The Krypton Team is working hard to find a solution but will not risk your KR being stolen.

For this reason, we have halted trading on both Bittrex and Yobit and will be doing a coin swap to a POS (proof-of-stake) blockchain.


----- Please STOP mining KR  -----


Come to Krypton's slack or irc for the latest news.

irc freenode #kryptoncoin

http://slack.krypton.rocks

PLEASE STOP MINING KR - Krypton has moved to a POS coin to prevent further attacks and to keep your investment safe from theft.

Only KR mined prior to the Bittrex shutdown (5:04PM EDT 2-Sept-2016) will be available to swap for the new POS KR.

Why did you decide to move to 100% POS?
Some coins are successfully used a hybrid POS & POW technology.
It is time-tested and well-proven.
Dual network maintenance of the system is better than the bare 100% POS.
You should think about it.

[frostminer]

Is "TEMPORARY" a rare unknown  word?

People surely dont seem to understand it.

[ocminer]

----- ATTENTION KRYPTON -----


Krypton is temporarily moving KR to a POS chain until we can find a way to prevent further 51% attacks.


We are working with exchanges to get this new chain running and a coin swap done.

Later today, I will post complete instructions regarding the KR swap and the new Krypton wallets.

I will also post an explanation of our reason why we are doing this.

In short, Ethereum-based blockchains with overall network hashing power are completely vulnerable to this new type of 51% attack. Forks of ETH-based chains can be manufactured offline and moved into production with sufficient hashing power. At this time, there is no way to defend against this.

The Krypton Team is working hard to find a solution but will not risk your KR being stolen.

For this reason, we have halted trading on both Bittrex and Yobit and will be doing a coin swap to a POS (proof-of-stake) blockchain.


----- Please STOP mining KR  -----


Come to Krypton's slack or irc for the latest news.

irc freenode #kryptoncoin

http://slack.krypton.rocks

PLEASE STOP MINING KR - Krypton has moved to a POS coin to prevent further attacks and to keep your investment safe from theft.

Only KR mined prior to the Bittrex shutdown (5:04PM EDT 2-Sept-2016) will be available to swap for the new POS KR.

Why did you decide to move to 100% POS?
Some coins are successfully used a hybrid POS & POW technology.
It is time-tested and well-proven.
Dual network maintenance of the system is better than the bare 100% POS.
You should think about it.

It seems you didn't read the last few pages of this thread. Eth based coins are very vulnerable to a 51% attack which is why krypton made the move to a different coinbase. IMHO it could have also be done much easier by just switching to some pow pos bitcoin based coinbase with a new algo, for example called KrBlake or so which mixes some recent Blake (2s/2b) algos and makes it, at least for some time,  fully resistant to any kind of gpu, ASIC etc but I wasn't involved in what was chosen. Covertress had to react quick and the decision is definitely right, move away from the vulnerability

[covertress]

(snip)

All ETH-based blockchains with network hashing power < 100GH are vulnerable to attack.

(snip)

Could you collaborate with let's say Shift and Expanse to merge mine all three blockchains at once, effectively raising the difficulty?

Krypton is much much more than a coin. Shift and Expanse have their own project goals. So does Krypton.

Krypton is becoming a blockchain (KR Foundation) and a software-as-a-service corporation (Krypton Corp).

It does not depend which type of blockchain KR is running on at the moment. What matters is the safety of the KR coins. Ethereum code has proven to be unsafe. Krypton originally chose Ethereum code to copy because of its distributed application functionality. When we recode our platform, we will incorporate this D-Tech. If we can find a way to safely return to Ethereum code, so that we can continue to play with it, and support sidechains, we will. For now, we have no quick solution to doing this. So, we are moving to a POS blockchain.

[ayiphelmy]

(snip)

All ETH-based blockchains with network hashing power < 100GH are vulnerable to attack.

(snip)

Could you collaborate with let's say Shift and Expanse to merge mine all three blockchains at once, effectively raising the difficulty?

Krypton is much much more than a coin. Shift and Expanse have their own project goals. So does Krypton.

Krypton is becoming a blockchain (KR Foundation) and a software-as-a-service corporation (Krypton Corp).

It does not depend which type of blockchain KR is running on at the moment. What matters is the safety of the KR coins. Ethereum code has proven to be unsafe. Krypton originally chose Ethereum code to copy because of its distributed application functionality. When we recode our platform, we will incorporate this D-Tech. If we can find a way to safely return to Ethereum code, so that we can continue to play with it, and support sidechains, we will. For now, we have no quick solution to doing this. So, we are moving to a POS blockchain.

so what is rewards on pos?? same wallet ot u make new wallet?

thx...

[covertress]

(snip)

All ETH-based blockchains with network hashing power < 100GH are vulnerable to attack.

(snip)

Could you collaborate with let's say Shift and Expanse to merge mine all three blockchains at once, effectively raising the difficulty?

Krypton is much much more than a coin. Shift and Expanse have their own project goals. So does Krypton.

Krypton is becoming a blockchain (KR Foundation) and a software-as-a-service corporation (Krypton Corp).

It does not depend which type of blockchain KR is running on at the moment. What matters is the safety of the KR coins. Ethereum code has proven to be unsafe. Krypton originally chose Ethereum code to copy because of its distributed application functionality. When we recode our platform, we will incorporate this D-Tech. If we can find a way to safely return to Ethereum code, so that we can continue to play with it, and support sidechains, we will. For now, we have no quick solution to doing this. So, we are moving to a POS blockchain.

so what is rewards on pos?? same wallet ot u make new wallet?

thx...

The POS reward will be 0.25 coins per block with a block time of 64 seconds.

New wallets will be posted soon along with complete instructions for installation and moving of your offline KR.

Any KR that you have on Bittrex or Yobit will be swapped by those exchanges.

I am still waiting for the exchanges to do this.

It is a holiday weekend here in the US and some of them are probably enjoying a good, old-fashioned BBQ. I know, I wish that I was, instead of rushing a new blockchain fix.

[arseaboy]

(snip)

All ETH-based blockchains with network hashing power < 100GH are vulnerable to attack.

(snip)

Could you collaborate with let's say Shift and Expanse to merge mine all three blockchains at once, effectively raising the difficulty?

Krypton is much much more than a coin. Shift and Expanse have their own project goals. So does Krypton.

Krypton is becoming a blockchain (KR Foundation) and a software-as-a-service corporation (Krypton Corp).

It does not depend which type of blockchain KR is running on at the moment. What matters is the safety of the KR coins. Ethereum code has proven to be unsafe. Krypton originally chose Ethereum code to copy because of its distributed application functionality. When we recode our platform, we will incorporate this D-Tech. If we can find a way to safely return to Ethereum code, so that we can continue to play with it, and support sidechains, we will. For now, we have no quick solution to doing this. So, we are moving to a POS blockchain.

nice to know this dev just do what would be the best for this project and the community will support for that. good luck

[Zywiec]

Milestones changes.


Direction is correct, however it would be much better to inform users in advance mode. We are talking about essence of KR core. It seems it's quick and easy decision to change from POW to POS phase.

But itsn't. Hope your decision will be understanded.

Could you  briefly report what was decided on slack here? It would be great knowing what step is next or simply what is supposed to do.

[@boutiuqe]

It wont be ethbase pos, i guess will be new x11-13-scrypt pos coins not dagger pos

Ps: JBS move to ethbase KR move to pos )

[cyberhacker]

It wont be ethbase pos, i guess will be new x11-13-scrypt pos coins not dagger pos

Ps: JBS move to ethbase KR move to pos )

believe me, it will be blackcoin wallet

[covertress]

Krypton Announcement

https://www.linkedin.com/pulse/krypton-abandons-ethereum-based-blockchain-after-51-attack-kent?trk=prof-post

[covertress]

ATTENTION KRYPTON

GOOD NEWS

WE HAVE A FIX FOR THE NEW 51% STYLE ATTACK

This fix will be coded ASAP and then trading will resume on Bittrex.

Please join Krypton's slack for the latest news or follow on irc freenode #Kryptoncoin

http://slack.krypton.rocks