What happened in crypto this weekend?
Ethereums Holesky testnet stops working launchEthereum designers have been forced to regroup after failing to introduce a brand-new test network, Holesky, on Sept. 16. The testnet tried to release with about 1.5 million validators however failed due to a misconfiguration in the source code, according to Ethereum infrastructure firm Nethermind in a Sept. 16 post. Ethereum Foundation engineer Parithosh Jayanthi shed more light on the matter, explaining that while some validators by hand repaired the configuration problem– enabling Holesky testnet to begin– there werent enough active validators for the network to reach finality.Nethermind said Ethereum Foundations designers concurred to try again a week from the time of the post– presumably around Sept. 23.
Ethereums Holesky testnet fails launchEthereum developers have been forced to regroup after failing to introduce a new test network, Holesky, on Sept. 16. The testnet tried to launch with about 1.5 million validators but failed due to a misconfiguration in the source code, according to Ethereum infrastructure firm Nethermind in a Sept. 16 post. Ethereum Foundation engineer Parithosh Jayanthi shed more light on the matter, discussing that while some validators by hand repaired the setup issue– making it possible for Holesky testnet to start– there werent enough active validators for the network to reach finality.Nethermind stated Ethereum Foundations developers agreed to try again a week from the time of the post– presumably around Sept. 23.” Holesky is created to help with staking, infrastructure, and protocol advancement on the Ethereum network. Anthony Sassano, host of Ethereum show The Daily Gwei previously said the launch would be the biggest public testnet in Ethereum history.CoinEx writes plea to hackers in bizarre open letterCrypto exchange CoinEx has published an open letter pleading for the hackers behind the current $70 million break-in to come forward and talk about the possible return of funds– including a rather odd call to action.
The affected assets are not simply numbers; they represent the trust millions of international users have actually placed in us,” they said.On Sept. 12, crypto exchange CoinEx experienced abnormally large outflows to an address with no previous history.” In a Sept. 15 letter to U.S. District Court Judge Lewis A. Kaplan, the district attorneys argued that a reasonable trial isnt prejudiced by Bankman-Frieds public image and that it isnt reasonable to ask jurors to neglect what theyve formerly seen in the news.The prosecutors particularly dont want Bankman-Frieds legal representatives to ask prospective jurors what they believe of Bankman-Fried and FTX, whether they can “totally disregard” what theyve seen in the news and whether theyve made up their minds about his guilt or innocence.Prosecutors say this is “needlessly invasive” and actions outside the bounds of voir dire– a process of questioning by which members of a jury are picked from a swimming pool of potential jurors.The United States district attorneys letter of objection to District Court Judge Lewis Kaplan. One of the expenses revealed by chairman Patrick McHenry professes to restrict the Federal Reserve from starting pilot programs to evaluate CBDCs without approval from Congress while the other efforts to restrict banks from using specific financial items to individuals.Magazine: Hodlers Digest, Aug. 27– Sept. 2: SEC delays BTC ETF decision, Grayscale triumphs over SEC and BitBoy gets the boot
Jayanthi said its “very most likely” the network will properly introduce within the next two weeks once the technical concern is resolved.He apologized for the failed launch and stated the team will guarantee the exact same issue is prevented in the future:” Sorry for the turmoil! Well include some more validation actions and better docs to try and make sure this doesnt happen again.” Holesky is developed to facilitate staking, infrastructure, and procedure advancement on the Ethereum network. Its replacing the Goerli testnet after designers started complaining that Goerli had too low of a supply of Goerli ETH to effectively deal with testing needs. Anthony Sassano, host of Ethereum program The Daily Gwei formerly said the launch would be the largest public testnet in Ethereum history.CoinEx writes plea to hackers in strange open letterCrypto exchange CoinEx has released an open letter pleading for the hackers behind the current $70 million break-in to come forward and speak about the possible return of funds– including a rather odd call to action. “We truly welcome you to work with us to fix this concern in a securer, more sensible, and more user-friendly way. We encourage you to communicate and negotiate with us actively on the blockchain or through our official e-mail address,” the company wrote.As hacked companies usually do, CoinEx stated they were prepared to provide the hackers a “generous” bug bounty as a reward for returning the stolen funds. #CoinExResponseUpdate – CoinExs Open Letter to HackersTo Hackers, We entered this industry with a vision of “making the world a much better place through blockchain.” Like countless blockchain enthusiasts who share the exact same faith, we aim to develop an open, interconnected, and …– CoinEx Global (@coinexcom) September 15, 2023
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Other Questions People Ask
What happened in crypto this weekend regarding Ethereum's Holesky testnet?
This weekend, Ethereum's Holesky testnet faced a significant setback as it failed to launch on September 16 due to a misconfiguration in the source code. Although some validators attempted to fix the issue, there weren't enough active validators for the network to achieve finality. Ethereum developers have decided to regroup and plan to attempt the launch again around September 23, aiming to resolve the technical issues that caused the initial failure.
What was CoinEx's response to the recent hack this weekend?
CoinEx made headlines this weekend by publishing an open letter addressing the hackers responsible for a $70 million breach. In a rather unusual plea, they invited the hackers to communicate and negotiate the return of the stolen funds, emphasizing the importance of trust in their user community. The exchange also hinted at offering a "generous" bug bounty as an incentive for the return of the assets, showcasing their willingness to resolve the situation amicably.
How did Ethereum developers react to the Holesky testnet failure this weekend?
Following the failure of the Holesky testnet launch this weekend, Ethereum developers expressed their commitment to addressing the issues that led to the misconfiguration. Engineer Parithosh Jayanthi acknowledged the setback and apologized for the turmoil caused by the failed launch. The team plans to implement additional validation steps and improve documentation to prevent similar problems in future attempts.
What are the implications of Holesky's failure for Ethereum's development?
The failure of Holesky's launch this weekend could have significant implications for Ethereum's ongoing development and testing processes. As Holesky is intended to replace the Goerli testnet, its successful deployment is crucial for facilitating staking and infrastructure advancements. Developers are now under pressure to resolve the technical issues quickly, as delays could hinder progress in Ethereum's protocol development and user trust.