Perhaps “works” is a strong word…

Participants

  • Ethereum Client Developers — Anyone who maintains an Ethereum client. …


What would happen if a PoW based crypto-currency were to upset its current miners so much that a large portion of them band together and retaliate in some way? …


Photo by Artem Beliaikin on Unsplash

TL;DR

  • If you over-estimate the block base fee, you will still only pay the base fee for the block you are included in, no matter how much you overestimate by.
  • This rather small and subtle change in Ethereum gas pricing makes it so one of the most common points of frustration…


Photo by Andrew Neel on Unsplash

TL;DR: Answer

Yes, you should live in fear, but not because of EIP-1559. There exist today 51% mining attacks that are self-reinforcing, meaning it is profitable for people to join the attacker once they have started.


Imagine a blockchain like Ethereum where we didn’t have to worry about pesky problems like state bloat, and block validation speed. You would submit a transaction and as long as you bribe the miner enough to include the transaction in a block, it will get included. …


3-way Constant Product

A 3-way Constant Product market is created where constant = yes_balance * no_balance * invalid_balance.

The first liquidity provider buys 1000 complete sets from Augur and adds all shares to the CP market. This would result in constant = 1000000000 = 1000 * 1000 * 1000, and it would equate…


Photo by Jason Pofahl on Unsplash

The TL;DR

Funds are not safu!

The Summary

Anyone with ~40,000 MKR (about 20,000,000 USD) can steal all of the collateral in Maker DAO, both DAI and SAI, along with a good chunk of assets from Compound, Uniswap, and other Maker integrated systems (over 340,000,000 USD).

Maker DAO v2 (AKA Multi-Collateral DAI, AKA McDAI)…


Redeemable BTC

The thing we ultimately want is a way to have some fungible token on Ethereum that implements ERC-777 (or, because we can’t have nice things, ERC-20) that can be redeemed by its holder for BTC. Let’s call this token BTC Fungible Token (BTC-FT). …


Often times Engineers get distracted with new technology and go off the rails solving problems that no one actually has. At a previous job a question that was intentionally asked anytime someone proposed a new solution, or multiple times throughout the implementation process was, “What is the problem we are…

Micah Zoltu

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