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Tag: ethereum foundation

  • How Ethereum Could Become The Default Network For AI Development, Vitalik Explains

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    My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

    My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

    I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

    When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

    Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

    My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

    Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.

    One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I’m so good at it. I am also very good at singing, dancing, acting, fashion and others.

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    I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

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    Godspower Owie

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  • This Historical Ethereum Top Signal Is Yet To Appear This Cycle

    This Historical Ethereum Top Signal Is Yet To Appear This Cycle

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    On-chain data suggests this signal that has historically occurred around Ethereum peaks has yet to appear in the current cycle.

    Ethereum Foundation Wallets Haven’t Made Large Outflows This Cycle So Far

    In a new post on X, the market intelligence platform IntoTheBlock has discussed a pattern that Ethereum has witnessed alongside its previous market peaks.

    The pattern in question is related to the netflows for the wallets associated with the Ethereum Foundation. The ETH Foundation is a non-profit entity supporting the cryptocurrency and its ecosystem.

    Below is the chart shared by the analytics firm that shows the trend in the net amount of ETH (in USD) moving in or out of the wallets connected to this organization.

    As is visible in the above graph, the netflows for the Ethereum Foundation have generally taken negative values during the past bull markets. Negative netflows naturally correlate to a net amount of ETH movement away from the wallets connected to the company.

    Interestingly, the indicator has seen especially large red spikes around the tops of the cryptocurrency. As IntoTheBlock explains,

    Historically, during each bull market, the Foundation has strategically sold substantial amounts, often aligning these sales almost perfectly with market peaks.

    The chart shows that the indicator’s value has been more or less neutral during the past few months, even though the asset’s price has increased significantly.

    This suggests that the Ethereum Foundation hasn’t been making any major sales during this bull market. Given the historical pattern, this may be a sign that a top isn’t yet here for the cryptocurrency, or at least the organization doesn’t judge it to be so.

    Another explanation, however, could be that the non-profit entity has changed its strategy for this new cycle, meaning that the past trend would no longer hold the same weight.

    In some other news, the official email of the Ethereum Foundation was recently compromised, as Tim Beiko, one of the ETH developers, had revealed in an X post.

    The developer had noted that the organization was trying to reach out to SendPulse, an email automation service used by the firm, to resolve the problem.

    In a follow-up post, Beiko confirmed that the team sent out an update to subscribers of the Ethereum Foundation blog, warning them that the previous email, announcing a “staking platform” by the organization, resulted from the compromise.

    “We should have locked down all external access, but we are still confirming,” said the developer in the post.

    ETH Price

    Ethereum plunged under the $3,300 level yesterday, but the asset has since recovered above $3,400.

    Ethereum Price Chart

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    Keshav Verma

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  • Researcher Successfully Syncs Ethereum Node On PlayStation 4 | Bitcoinist.com

    Researcher Successfully Syncs Ethereum Node On PlayStation 4 | Bitcoinist.com

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    In a groundbreaking experiment, Mario Havel, a protocol supporter and researcher of the Ethereum (ETH) Foundation, has achieved the synchronization of an ETH node on an unlikely device – a PlayStation 4 gaming console. 

    According to a recent post, Havel’s journey began with delving into “PlayStation jailbreaking,” where he discovered vulnerabilities in older PlayStation 4 firmware that allowed for control takeover. 

    Jailbreaking refers to bypassing the restrictions imposed by the official software (firmware) of a device, in this case, a PlayStation 4 console. 

    By jailbreaking the console, the researcher, Mario Havel, gained unauthorized access to the system, allowing him to run custom software and applications and make modifications not typically allowed by the manufacturer.

    Armed with an “old PlayStation 4 machine” running firmware 9.00 or older, Havel embarked on a mission to transform the gaming console into a fully functional Ethereum node.

    From Gaming To Blockchain

    The initial challenge was to obtain a “suitable, hackable” PlayStation 4 console with the desired firmware version. Havel emphasized the importance of avoiding system updates, as newer firmware versions are incompatible with the exploit. 

    After acquiring the appropriate console, Havel manually installed the 9.00 firmware using a USB drive, ensuring the machine remained offline to prevent unwanted updates. 

    To prevent automatic updates while connected to the internet, Havel recommended using a custom domain name system (DNS) server that blocks updates and redirects the user guide homepage to an exploit host. 

    This setup allowed Havel to host a website locally or publicly, providing the necessary tools and resources for the PlayStation 4 jailbreaking process. 

    The jailbreaking process relied on an exploit discovered by comparing firmware versions 9.00 and 9.03. By exploiting a filesystem bug, Havel could trigger the vulnerability by inserting a specially formatted USB device immediately. 

    The exploit required an exfathax.IMG file, which could be downloaded and flashed onto a USB drive using software such as Balena Etcher, a cross-platform tool. Havel noted that the USB drive would be formatted during each jailbreaking session, and it was advisable to use a dedicated flash drive for this purpose.

    According to Havel, once the exploit was successfully activated, the PlayStation 4 gained new capabilities, allowing it to install various packages, tools, and games directly on the console. 

    Linux-Based Ethereum Node Hosting

    Havel mentioned the ability to install packages over a local network for a “smoother installation process.” He also highlighted the ability to run a GNU/Linux distribution – an operating system that can interact with computers and run other programs – on the PlayStation 4, turning it into a versatile personal computer.

    With Linux successfully running on the PlayStation 4, Havel set up an Ethereum node on the console. He recommended downloading portable versions or compiling Ethereum clients suitable for the PlayStation 4’s GNU/Linux environment. 

    Havel shared his experience with clients, highlighting the importance of optimizing resource consumption for smoother operations. He also mentioned monitoring applications to ensure optimal temperature and fan control.

    Having established secure shell (SSH) access over the local network, Havel could connect to his PlayStation 4 node from his laptop, treating it like any other server. 

    This setup allowed for continuous Ethereum synchronization and showcased the PlayStation 4’s potential as a dedicated node-hosting device.

    Ultimately, by repurposing a PlayStation 4 as an Ethereum node, Havel has opened up new possibilities for node hosting, decentralization, and utilizing existing hardware for blockchain network participation. 

    As the experimentation continues, researchers and enthusiasts will likely explore similar avenues, pushing the boundaries of what can be achieved with gaming consoles and decentralized technologies.

    ETH’s uptrend on the daily chart. Source: ETHUSDT on TradingView.com

    Featured image from Shutterstock, chart from TradingView.com 

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    Ronaldo Marquez

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