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Here's What to Watch When Disney Reports Earnings on Tuesday

6 years 3 months ago
The coronavirus pandemic is causing significant disruptions for Walt Disney (NYSE: DIS). The company had to completely shut down some of its most lucrative cash-generating operations to help slow the spread of the virus. Still, the company bounced back in July, opening theme par

4 Banks That Did a Poor Job of Forecasting Loan-Loss Projections

6 years 3 months ago
Banks this year are operating under a new accounting methodology called the current expected credit losses (CECL) method, which requires banks to try and project losses over the life of a loan as soon as it is originated and put on the balance sheet. What this means, at least in

Ethereum Classic Suffers Reorganization That Resembles 51% Attack Amid Miner Complications

6 years 3 months ago

Ethereum Classic (ETC) suffered a 3,693-block chain reorganization early Saturday morning, an event first thought to be a possible 51% attack, after a miner used old software after having been offline, according to Terry Culver, CEO of Ethereum Classic Labs.

  • The reorganization caused all state-pruned nodes to stop syncing and is “likely caused by a 51% attack,” cryptocurrency miner Bitfly initially wrote on Twitter.
  • In a later report, Ethereum Classic developers said the reorganization instead could have resulted from “the offending miner [having] lost access to internet access for a while when mining,” a scenario later confirmed by Culver.
  • While this is getting sorted out, “exchanges need to pause [ETC] deposits and withdrawals,” said Hudson Jameson, developer at the Ethereum Foundation.
  • Saturday’s reorganization lasted for roughly 15.4 hours worth of blocks, assuming the protocol’s target 15-second block times. 
  • A reorganization happens when two versions of a blockchain compete for validity from nodes in the network. Eventually, one chain of blocks will gain a majority of the mining hash power and “win,” leaving the competing version to be “orphaned” or abandoned. In this case, an old version of ETC is vying to replace the most current version with itself.
  • So far, the ETC market seems unaffected by the news, having gained more than 1% over the past 24 hours, according to Messari.

Update (August 1, 15:17 UTC): This article has been updated with an estimate of the attack cost.
Update (August 1, 16:28 UTC): This article has been further updated to reflect that the event was likely not a malicious act, but an accidental one in which an offline miner came back online using an old version of ETC. That event then mimicked a 51% attack.

Related Stories

Ethereum Classic Suffers Reorganization That Mimics 51% Attack Amid Miner Complications

6 years 3 months ago

Ethereum Classic (ETC) suffered a 3,693-block chain reorganization early Saturday morning, an event first thought to be a possible 51% attack, after a miner used old software after having been offline, according to Terry Culver, CEO of Ethereum Classic Labs.

  • The reorganization caused all state-pruned nodes to stop syncing and is “likely caused by a 51% attack,” cryptocurrency miner Bitfly initially wrote on Twitter.
  • In a later report, Ethereum Classic developers said the reorganization, instead could have resulted from “the offending miner has lost access to internet access for a while when mining,” a scenario later confirmed by Culver.
  • While this is getting sorted out, “exchanges need to pause [ETC] deposits and withdrawals,” said Hudson Jameson, developer at the Ethereum Foundation.
  • Saturday’s reorganization lasted for roughly 15.4 hours worth of blocks, assuming the protocol’s target 15-second block times. 
  • A reorganization happens when two versions of a blockchain compete for validity from nodes in the network. Eventually one chain of blocks will gain a majority of the mining hash power and “win,” leaving the competing version to be “orphaned” or abandoned. In this case, an old version of ETC is vying to replace the most current version with itself.
  • So far, the ETC market seems unaffected by the news, having gained more than 1% over the past 24 hours, according to Messari.

Update (August 1, 15:17 UTC): This article has been updated with an estimate of the attack cost.
Update (August 1, 16:28 UTC): This article has been updated to reflect that the event was likely not a malicious act, but an accidental one when an offline miner came back online using an old version of ETH. That event then mimicked a 51% attack.

Related Stories

3 Top Tech Stocks to Buy Now

6 years 3 months ago
There's no shortage of high-flying technology stocks for investors to consider right now. The stocks of some technology companies are rising as the coronavirus has spread across the globe and investors look for stocks that could benefit from people spending more time at home. 

Validea John Neff Strategy Daily Upgrade Report - 8/1/2020

6 years 3 months ago
The following are today's upgrades for Validea's Low PE Investor model based on the published strategy of John Neff. This strategy looks for firms with persistent earnings growth that trade at a discount relative to their earnings growth and dividend yield.

Is NVIDIA a Buy?

6 years 3 months ago
The COVID-19 crisis has not slowed down NVIDIA (NASDAQ: NVDA) as its stock is up 78% year to date, following back-to-back quarters of robust operating results. NVIDIA's gaming segment revenue increased 27% year over year in the most recent quarter, but it's the data center busi

Better Buy: Gilead Sciences vs. Pfizer

6 years 3 months ago
Gilead Sciences (NASDAQ: GILD) and Pfizer (NYSE: PFE) are two of the most competent pharmaceutical companies in the industry. Both have impressively broad and advanced drug development pipelines, and both have a history of profitable operations, not to mention acceptable dividen
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