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Bug in Constantinople, research by Bloomberg, MUFG Coin

02/14/2019
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Vulnerability found in Constantinople, hardfork is again under threat. Miners insure risks through options, MUFG Coin will be launched in early 2020.

New vulnerability threatens Constantinople hardfork

Only 10 days before the planned start of the Constantinople hardfork, vulnerability was again found in it. This time, the bug affects smart contracts with a self-destruct function. In the new version of the protocol, a trap can cause double transactions. However, the user can track such changes, but it is unlikely that everyone has sufficient qualifications.

At the same time, the launched complexity bomb makes developers rush. In the near future, the issue of coins will drop to 10,000 ETH per day. Experts believe that hardfork should be launched by the end of March. Otherwise, the stability of the whole blockchain will be under threat.

New vulnerability threatens Constantinople hardfork

Derivatives help miners and cryptoinvestors to survive difficult times

A study by Bloomberg showed that now miners massively insure risks through derivative financial instruments. Demand for bilateral options with a short maturity increased. For example, QCP Capital from Singapore insured risks through the acquisition of a three-month bitcoin option.

The fixed price of the asset was $ 4,200 per coin. If after the expiration of this period Bitcoin grows, the company will receive less profit. If the quotes are below this level, then it will still be able to sell the asset at a price of $ 4,200. However, Bloomberg warned - financial market experts are much better in such operations. Therefore, miners need to be careful.

Derivatives help miners and cryptoinvestors to survive difficult times

Mitsubishi UFJ Financial Group confirms plans to launch a cryptocurrency payment system

In May 2018, Mitsubishi UFJ Financial Group (MUFG) announced the start of work on its own payment system using blockchain technology. MUFG has assets of more than $ 2.8 trillion, and it ranks second in the world's largest banks list.

According to a published statement, the situation in the cryptomarket did not affect its plans. It is expected that in early 2020 a unique payment system using the blockchain will be launched. Processing of one transaction will take no more than two seconds, and the cost of payment will decrease significantly. It is already known that the MUFG Coin will have a fixed rate, with a 1: 1 ratio to the Japanese yen.

Why a payment system on the blockchain is needed

Mitsubishi UFJ Financial Group confirms plans to launch a cryptocurrency payment system

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