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Archive for the ‘Crypto News’ Category

dogecoin-fork-panic-sale

There was a momentary panic sale apparently caused by a network fork for DOGEcoin, but it seems things are getting back to normal now. There could be some delays processing transactions though due to some pools and exchanges not running the latest version of the doge client software, and some pools such as Multipool have temporary disabled DOGE withdraws until they fix the problem. Just don’t get the panic get a hold of you, things are already getting back to normal. Below is some info from the developers:

The network has forked around block 104678. From my first investigation, it looks like the version below and above 1.5 disagree on the correct blockchain. Currently, the clients below 1.5 stopped accepting new blocks. Solely the 1.5+ clients are now generating and accepting new blocks. Older nodes will generate blocks too, but those will be rejected by the network as 1.5+ nodes are used by more than 51% of users.

THIS IS NOT A 51% ATTACK!

We are actively looking into why this happened. I can’t say much yet (I’m at work), but the safest currently is updating your client to 1.5.1.

Pool owners: I know about that issue with 1.5+, but there is currently no other way, as we can’t patch 1.4 so fast. We have to investigate why that fork happened. A debug.log of a 1.4 node could help.

Try to reduce your transactions to a minimum while this is being worked on. Check your block count in the bottom right corner of your wallet to see on which side of the chain you are. As of writing this, my client shows ~104773 blocks. This seems to be the currently longest, therefore “correct” chain.

You can find more information about the DOGEcoin network fork here…

mtgox-logo

MtGox has released an official statement today that they will be resuming full operations soon as they have apparently implemented a solution that should enable withdrawals and mitigate any issues caused by transaction malleability. MtGox apparently has developed a workaround that will use a unique identifier created by Blockchain to show whether transactions have been modified or not. This is supposed to prevent any fraudulent use of the malleability issue and protect the assets of MtGox customers.

Resuming Withdrawals
With this new system in place, MtGox should be able to resume withdrawals soon. At the beginning we will do so at a moderated pace and with new daily/monthly limits in place to prevent any problems with the new system and to take into account current market conditions.

In order to launch the new system, we are going through the following steps:
– Re-indexing the entire Blockchain (approx. 32 million entries)
– Fully deploying the new NTX ID
– Implementing a new bitcoin withdrawal queue that needs to be tested
– We will update everyone again by Thursday at the latest.

Additionally, you may have noticed that we have added a new login system that sends you an email when you successfully access your account. This is an additional security layer, but as always we strongly encourage our customers to use the 2-step authorization options available in our Security Center.

Hopefully this will help in stabilizing BTC exchange rate in the next few days, especially after MtGox resumes full trading operations including BTC withdraws and this will calm the situation that has gone crazy. Bitstamp has already restored their automated Bitcoin withdraws, so this announcement from MtGox should also help in restore things back to normal.

cosmoscoin-scrypt-crypto

With the currently low profitability of DOGE a lot of miners are looking at some other alternative cryptos with higher profitability to mine instead of DOGE and LTC and an interesting alt coin pops up called Cosmoscoin (CMC). This scrypt crypto has a profitability that is currently about 3 times higher than that of DOGE, so a lot of people are looking for mining pools and exchanges where they can mine for Cosmoscoin, but unfortunately there are not that many of these available.

Aside form the recent spike in interest CMC hasn’t been very active lately and many of the previously available pools are not working anymore, so there are just a few left that are experiencing various problems due to the many users trying to mine and the instability of the CMC network. Furthermore Cryptsy, the main exchange trading CMC currently is experiencing some sort of issues with Cosmoscoin as you are unable to generate a deposit address, so you are not able to send and trade the mined CMC there. An alternative exchange that supports CMC is Bter and they have temporary taken down CMC deposits, and there is another one that works called CoinEx, but there a deposit address generated there was not accepted by the pool we tried to mine at. So be careful with CMC as although it may seem as a good idea to mine it now due to the higher profitability it apparently has at the moment, the problems you may face trying to get and trade your coins might not be worth it. So we recommend to AVOID Cosmoscoin (CMC) for the moment!


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