πŸš€ Third Attack hits Ethereum Classic; While the DeFi games continues to heat up πŸ”₯

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πŸš€ Third Attack hits Ethereum Classic; While the DeFi games continues to heat up πŸ”₯

Welcome Back, Geckos!


Any Londoners here? Did Binance really put up ads all over the city?


If you are anywhere near the area, feel free to take a selfie for the rest of us crypto-lovers out there.

(Editor: If you ask "Wen Gecko [anything]?", the answer will always be "maybe..." 😈)


On the topic of crypto mainstream-ization, did you know that one of the heads at Paypal is a bitcoin perma-bull who recently just said "Opt-out with Bitcoin" in response to the US Fed Chair's Jerome Powell speech?

(Editor: BULL-to-the-ISH, BULLISH!)

Have a great week ahead!

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Ethereum Classic Suffers yet another 51% attack

For the third time in August, hackers gained control of the Ethereum Classic (ETC) blockchain in a 51% attack.

The attack reorganized the ETC blockchain by over 7000 blocks, similar to the last 2 attacks in the same month.

Not much else yet is known about the latest attack. 


(Editor: After the last 2 attacks, there were talks on securing the network against 51%; though now it seems too little too late. How many more hacks must happen before a coup de grace is delivered to the network?)


Decrypt

Ethereum vulnerable to frontrunners: Researcher

The design of Ethereum's (ETH) mempool makes the blockchain vulnerable, according to Dan Robinson, a research partner at Paradigm. 


He said arbitrage bots monitor pending transactions in the Ethereum mempool and attempt to exploit profitable opportunities created by them.


This move has been dubbed the crypto version of frontrunning, and appears not to be slowing down anytime soon.

In fact, Dan even warned that while frontrunners today are mostly bots, in the future even miners can get in on the game as they are the ones who determine which transaction gets mined first, giving them an advantage to frontrun transactions.


(Editor: There is currently no other way to avoid frontrunning other than making sure your transaction gets mined in the next block. That being said, if the horror story of Dan Robinson becomes true, there will literally be no way to avoid being frontrun.)


CoinTelegraph

Uniswap Rival Sushiswap Hits $30m Daily Volume with Yield Farming Play

Uniswap just hit its highest daily trading volume ever—over $450m.


However, this was propped up by the launch of an unrelated DeFi governance token, Sushiswap.


Sushiswap puts a yield farming twist to Uniswap, not only offering Liquidity providers a cut of users' trading dees, but also rewards them with SUSHI, the governance token of Sushiswap.


Decrypt

Market Order


A market order is a buy or sell order of stocks or cryptocurrency at the best price available in the current market as soon as possible.


Learn about other Crypto terms here

Read more on CoinGecko

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