Ethereum Constantinople Hard fork to be delayed

[Olatunjex]

The much anticipated upgrade to Ethereum network is set to be delayed yet again to a yet to be known date due to critical vulnerabilities discovered on the to be implemented upgrade, according to Coindesk.

Smart contract audit firm ChainSecurity flagged Tuesday that Ethereum Improvement Proposal (EIP) 1283, if implemented, could provide attackers a loophole in the code to steal user funds. Speaking on a call, ethereum developers, as well as developers of clients and other projects running the network, agreed to delay the hard fork – at least temporarily – while they assessed the issue.

Participants included ethereum creator Vitalik Buterin, developers Hudson Jameson, Nick Johnson and Evan Van Ness, and Parity release manager Afri Schoedon, among others. A new fork date will be decided during another ethereum dev call on Friday.

Discussing the vulnerability online, the project’s core developers reached the conclusion that it would take too long to fix the bug prior to the hard fork, which was expected to execute at around 04:00 UTC on Jan. 17.

Called a reentrancy attack, the vulnerability essentially allows an attacker to “reenter” the same function multiple times without updating the user about the state of affairs. Under this scenario, an attacker could essentially be “withdrawing funds forever,” said Joanes Espanol, CTO of blockchain analytics firm Amberdata in a previous interview with CoinDesk.

He explained:

“Imagine that my contract has a function which makes a call to another contract… If I’m a hacker and I’m able to trigger function a while the previous function was still executing, I might be able to withdraw funds.”

Due to security concern it was postponed, it is better to make sure every necessary things is adequately put in place before the upgrade, waiting few weeks won't harm the upgrade hopefully new date will be announced soon.

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[sekop]

Many assumptions are expressed but for the sake of security we must be able to accept it and be patient for this situation, now it is indeed a crisis and must be addressed so that it is not hacked. I will wait for good and proper things to defend.

[Herbert2020]

a big fall of ETH is incoming after big whales smell fear on investors (the little left).

This is no good news for investors.Probably good for trully believer miners.  But for a guy like me, that wants this market destroyed to ashes, this is actually good news.

This will imply more coins on the market. The more coins, the less value. GG ETH. Game over.


UPDATE: I had not seen the value of ETH. It's dropping a 7% right now. Hope it goes to 0. all the coins. This manipulated market should die, and erase the manipulators from the earth. If people cannot play the game, the game should be destroyed.

2nd UPDATE: ETH will be punished with this fork. a 51% attack will be possible once almost 80% of miners quit. GG ETH devs.

well ETH is a pump AND dump coin so you can't really complain when they dump it. with every pump there will be a dump and recently they used the fork hype to pump it a little, granted it was a failure but it was still a pump and needed a dump. it is Yin and Yang not Yin alone!

as for its death,  it won't happen anytime soon because centralized altcoins are more powerful than regular shitcoins and can stay alive a much longer time.

as for the 51% attack, it won't happen on the PoS chain because there is no 51% on PoS algorithm. there are however other attack surfaces being introduced with this fork.

[Bagani]

This is not good for ethereum, they go back again at third place in coinmarketcap after all this security issue. Every holder of ethereum almost dump their holdings because of this, everyone is in fear of holding ethereum. Also to point out the two hardforks that looks like scam and didn't help at all.

[A7373]

This is very bad news in such a market. It is clear that the company can do its best, but many people would sell.

[nreal]

A bad news, but anyway security issues have been discovered and will be fixed. It will be a big problem if Eth continues to be upgraded with a security issue.

[tonibyuzen]

Yes, I have already read this news and it really upset me. We have been waiting for Ethereum network improvements for a long time, but once again the update is postponed. But on the other hand, we can be happy that the Ethereum team is responsible for its project and users. We must not forget that there are many projects on the Ethereum blockchain and the network update will affect each of them. Therefore, security and remediation of critical vulnerabilities should be a priority.

[vova.andreyan.94]

The news is certainly not happy, but still says that the team is seriously working on their product, and this inspires confidence!

[OluwaTosin10]

This is not a good news for ETH as we were waiting for the development upgrades for too long and that was reflected  on the price as well.
And why the delay at the last moment, but anyway the update should be done properly and on a secure way.
So it if could cause a loophole in the code for the attackers and the funds would be in danger with the fork then the only solution was to postpone the event.

It is said that the delay is as regards the security breaches or so
And I do think this is to protect every etherum users from apparent hack during the update processes

Maybe the exact date shouldn’t have been announced after all

[thaliaand]

The much anticipated upgrade to Ethereum network is set to be delayed yet again to a yet to be known date due to critical vulnerabilities discovered on the to be implemented upgrade, according to Coindesk.

Smart contract audit firm ChainSecurity flagged Tuesday that Ethereum Improvement Proposal (EIP) 1283, if implemented, could provide attackers a loophole in the code to steal user funds. Speaking on a call, ethereum developers, as well as developers of clients and other projects running the network, agreed to delay the hard fork – at least temporarily – while they assessed the issue.

Participants included ethereum creator Vitalik Buterin, developers Hudson Jameson, Nick Johnson and Evan Van Ness, and Parity release manager Afri Schoedon, among others. A new fork date will be decided during another ethereum dev call on Friday.

Discussing the vulnerability online, the project’s core developers reached the conclusion that it would take too long to fix the bug prior to the hard fork, which was expected to execute at around 04:00 UTC on Jan. 17.

Called a reentrancy attack, the vulnerability essentially allows an attacker to “reenter” the same function multiple times without updating the user about the state of affairs. Under this scenario, an attacker could essentially be “withdrawing funds forever,” said Joanes Espanol, CTO of blockchain analytics firm Amberdata in a previous interview with CoinDesk.

He explained:

“Imagine that my contract has a function which makes a call to another contract… If I’m a hacker and I’m able to trigger function a while the previous function was still executing, I might be able to withdraw funds.”

The quote from the last sentence sounds terrible. "withdrawing funds forever". The quote from the last sentence sounds terrible. "withdrawing funds forever".  
It's unfortunatelly that the long-awaited moment must be postponed "again". But I prefer this delayed upgrade and wait patiently. And thanks to ChainSecurity for finding this vulnerability problem, if not, it will be a big problem when the upgrade is implemented.

[Cloud_miner]

If this is actually the case, then for ethereum can come very bad times. At present, the actual price of ethereum cannot be called optimistic, and after such news, the cost of ethereum can even decrease and lead to the fact that even the most optimistic investors will prefer to get rid of it.

[Piskeante]

a big fall of ETH is incoming after big whales smell fear on investors (the little left).

This is no good news for investors.Probably good for trully believer miners.  But for a guy like me, that wants this market destroyed to ashes, this is actually good news.

This will imply more coins on the market. The more coins, the less value. GG ETH. Game over.


UPDATE: I had not seen the value of ETH. It's dropping a 7% right now. Hope it goes to 0. all the coins. This manipulated market should die, and erase the manipulators from the earth. If people cannot play the game, the game should be destroyed.

2nd UPDATE: ETH will be punished with this fork. a 51% attack will be possible once almost 80% of miners quit. GG ETH devs.

well ETH is a pump AND dump coin so you can't really complain when they dump it. with every pump there will be a dump and recently they used the fork hype to pump it a little, granted it was a failure but it was still a pump and needed a dump. it is Yin and Yang not Yin alone!

as for its death,  it won't happen anytime soon because centralized altcoins are more powerful than regular shitcoins and can stay alive a much longer time.

as for the 51% attack, it won't happen on the PoS chain because there is no 51% on PoS algorithm. there are however other attack surfaces being introduced with this fork.

it's a pump and dump, because MANIPULATORS, don't care about the value of the technology and its benefits. Only the amount of money you can get from this coin. ETH devs have never said how many smart contracts they have signed, and how much money , I MEAN REAL MONEY, is it worth this technology. Reality is that probably ETH and it's cap is around 100 times more valuable that the actual value. The coin is 100 times more valued for it's speculative value, than the real value of the technology.

Pump and dump scheme has been going on for a year. I had been (i must say it), one of the very little people that have said, by april 2018, that this was going to end in a disaster. Go check my posts by that time if you don't believe me.

Speculators need coins to be pumping and dumping. A stable value of coins gives them no profit. If you are able to control a coin, by getting rid of trully believers investors, what's left? the manipulation. Simple as that.

CENTRALIZED COINS, are quite the opposite of what this market was created. Decentralization and anonimity where the bases. Now , none of the two can be called that way anymore.

you may be right. But when a market loses 80% value over a year, either you or me can be "on the spot". Investors see crypto as a huge black hole.

[levyashin]

It will probably harm the price in short term but it is good they are delaying it to make it better. I would prefer waiting instead using a buggy blockchain.

[ilcapitano]

The much anticipated upgrade to Ethereum network is set to be delayed yet again to a yet to be known date due to critical vulnerabilities discovered on the to be implemented upgrade, according to Coindesk.

Smart contract audit firm ChainSecurity flagged Tuesday that Ethereum Improvement Proposal (EIP) 1283, if implemented, could provide attackers a loophole in the code to steal user funds. Speaking on a call, ethereum developers, as well as developers of clients and other projects running the network, agreed to delay the hard fork – at least temporarily – while they assessed the issue.

Participants included ethereum creator Vitalik Buterin, developers Hudson Jameson, Nick Johnson and Evan Van Ness, and Parity release manager Afri Schoedon, among others. A new fork date will be decided during another ethereum dev call on Friday.

Discussing the vulnerability online, the project’s core developers reached the conclusion that it would take too long to fix the bug prior to the hard fork, which was expected to execute at around 04:00 UTC on Jan. 17.

Called a reentrancy attack, the vulnerability essentially allows an attacker to “reenter” the same function multiple times without updating the user about the state of affairs. Under this scenario, an attacker could essentially be “withdrawing funds forever,” said Joanes Espanol, CTO of blockchain analytics firm Amberdata in a previous interview with CoinDesk.

He explained:

“Imagine that my contract has a function which makes a call to another contract… If I’m a hacker and I’m able to trigger function a while the previous function was still executing, I might be able to withdraw funds.”

The network of Ethereum is so very big and their system has been operated for a long time, so there are errors or vulnerability in security in update process is very normal and they need more time. We should be calm

[Fury Road]

I guess it's good that they found it before hardfork, if they considered to delay hardfork, it's ok. We should patiently wait, because blockchain is not a trivial system. and people who are working in the field of IT technology compeletely understand dev team of ETH.

[none of us]

hmmm, good that the error was found, but bad that the update is delayed. i thought the update could push the price up again, but now we'll probably have to wait.

[martin1221]

I also read about it online too. The much-awaited Constantinople hard fork will be delayed due to security issues found by the security auditing firm hired by ethereum. Though this news will create negative impact on the platform, I am still glad that ethereum team delayed to fix it than to be quiet about it and then be a big problem later on.

[jyotianand01]

It is good that vulnerabilities are detected before this hard fork otherwise it will create huge problem if these problems will detected after this happen. It will make negative impact on ethereum for short term but it will be back in momentum after this problem sorted out and fork will happen.

[Nivia1st]

yesterday I saw news about hacking cryptopia or now there is news about Constantinople being delayed. this month seems to be very bad. but this delay is better than being forced to become a new problem.

[thefoex]

a new drama for ethereum. when everyone thinks of this hardfork the ethereum market can be better, it turns out at the last moment it is delayed. I think it seems that with this hardfork postponement the market will get worse in the future.