Ethereum Network Is Cleaned Up from Empty Accounts

Published on 30 Nov. 2016
Clear ethereum adresses

Finally, the last of millions of empty addresses, created by the fraudsters during the September DDoS-attacks, are deleted. The announcement about this appeared on the Twitter of Vitalik Buterin, the founder of the Ethereum.

Long Way to Cleaning

The deleting of empty accounts was the main task of the fourth Ethereum hard fork, which was carried out in November, 22, 2016. The update wasn’t aimed at direct deleting of empty accounts, that caused the excessive size of the platform’s blockchain, but only activated the process during which the empty accounts were deleted after any interaction with other transactions.

However, the vulnerability in the program code of one of the main Ethereum clients “Go Ethereum” (Geth) almost сaused one more hard fork, this time unplanned one. The failure in Geth client led to the creation of a separate illegible chain of blocks, in contradiction to those blocks that were processed by Parity client. The absence of consensus between two clients caused a serious panic among platform users that didn’t understand what’s happening.

The news about bug fixing stopped the fall of Ether rate, however, not for long. Its price has started to fall gradually from November, 27, and collapsed yesterday, November, 29, having fallen to the level lower than 8 $/ETH, for the first time since April, 2016. At the moment, Ether rate has a bit increased and is 8,41 $/ETH.

Causes of Rate Fall

Many people are interested, why the Ether price doesn’t grow after the fixing of all technical problems. It is hard to say fairly, maybe, such number of malfunctions and bugs make investors think about the imperfection of the network and they believe that all positive hopes on the platform’s perspective are exaggerated. Here one can mention also the vulnerability found in Solidity programming language, which is aimed at programming smart-contracts.

However, Ethereum is something considerably bigger than crypto-currency only, and has a huge potential. On the basis of Ethereum multiple decentralized applications and perspective projects are created, so it is too early to give up on the platform. One can mention the example of Bitcoin which experienced even bigger losses during its long history, but again grew in price.


More news

Viberate: Revolution in the Live Music Industry

Decentralized platform Viberate provides a possibility for all willing to invest into the development of the live music industry. Crowdsale of the project that can disrupt this industry starts on September, 5.

24 Aug. 2017

The ICO of the Decentralized Ecosystem of Domain Names “Nametoken” Has Started

On August 1, 2017, the crowdfunding campaign of Nametoken has been launched. The aim of the project is the development of the platform for investing into Internet-domain names. Investors and traders will be able to profit from registration, parking, listing, buying and selling of domain names.

08 Aug. 2017

Prospectors – Ethereum-Based Online Economic Strategy

MMORTES Prospectors is a multi-player online real time economic strategy that will use Ethereum-based tokens. It has started the preparations to the crowdfunding campaign. The campaign launch is planned in June, 1.

08 May. 2017