| Infura service outage triggers massive chain reaction; CCB to issue $3 billion in blockchain bonds

Odaily资深作者

2020-11-12 08:01 (UTC+8)

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Affected by the Infura incident, Binance, Upbit, Bithumb and other trading platforms suspended the deposit and withdrawal of ETH and ERC20 tokens; MetaMask had abnormal balance display and data delays.

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Infura, an API service provider for Ethereum and IPFS, stated that its Ethereum mainnet API service was temporarily interrupted, and the team is investigating and working hard to restore service functions.
In addition, several Twitter users pointed out that Binance, Upbit, Bithumb and other trading platforms are suspected of suspending ETH and ERC20 token deposit and withdrawal services. The Ethereum light wallet MetaMask has abnormal balance display and data delay.

In addition, several Twitter users pointed out that Binance, Upbit, Bithumb and other trading platforms are suspected of suspending ETH and ERC20 token deposit and withdrawal services. The Ethereum light wallet MetaMask has abnormal balance display and data delay.

Since then, Infura has updated the progress of the incident investigation and said that it apologizes for the interruption of the service and will continue to repair it to ensure its correctness and completeness. The root cause was traced to multiple components in the infrastructure that were locked to an old stable version of the go-ethereum client that encountered a critical consensus error at block 11234873. This affects several Geth versions, including 1.9.9 and 1.9.13. Components running 1.9.19 and later are not affected. After the incident is resolved, a postmortem will be shared.

At present, all service subsystems of Infura have resumed normal operation.

China Construction Bank to Issue $3 Billion Blockchain Bonds

China Construction Bank has partnered with Hong Kong-based fintech company Fuso to issue a $3 billion blockchain bond, the first digital security issued by a Chinese bank on the blockchain. The issuance, executed by CCB Malaysia's Labuan branch, has a three-month maturity and the bonds will have a minimum issue price of US$100 each and will yield about 0.75% at maturity, higher than the bank's about 0.25% per annum. interest rate. Investors can use bitcoin to trade China Construction Bank's digital certificates on the Fusang Exchange, a digital exchange licensed by Malaysia's Fujian financial regulator. It is reported that this bond transaction can also be carried out in US dollars, and it is planned to start this Friday (November 13). (South China Morning Post)

On November 11, KuCoin CEO Johnny Lyu tweeted to update the latest developments about the KuCoin security incident: So far, 84% of the affected assets have been recovered through on-chain tracking, contract upgrades, and judicial recovery. As requested by law enforcement, we will release all details following the conclusion of the case. KuCoin has resumed all services for 176 tokens, and other tokens will be reopened before November 22. I'm glad we handled this incident in an open and transparent manner.

digital currency

Gemini develops "wFIL" service to make token FIL available on Ethereum

The encryption exchange Gemini said in a blog post on the 9th that it is working hard to cooperate with Ethereum developers and hopes to add wFIL to its own products and platforms. Once completed, the user will be able to convert the FIL in the account to wFIL at a ratio of 1:1, which can then be withdrawn to any Ethereum address.

Avalanche protocol Avalanche is testing online bridging BTC anchor assets

In order to bid for the Polkadot parachain, Plasm Network will undergo a hard fork upgrade and a partial network freeze

Plasm Network, the Polkadot layer-2 expansion protocol, tweeted that the Polkadot parachain auction is coming, and Plasm Network is preparing for a large-scale network upgrade. This also means that a hard fork upgrade is necessary to transition from PoA to PoS consensus. This migration transition will completely freeze the entire Plasm Network network for a period of time. Freezing means that the network basically does not generate new blocks, and this state can only be restored through a hard fork. Based on the consideration of community members and projects, this migration transition will implement a partial freezing of the network to transmit transaction balances, and the main network will operate without sending transactions.

Avalanche protocol Avalanche is testing online bridging BTC anchor assets

On November 11, Kevin Sekniqi, co-founder and chief protocol architect of AVA Labs, tweeted that the avalanche protocol Avalanche is testing the network to bridge BTC anchor assets. In this regard, Avalanche CEO Emin Gün Sirer said that the Avalanche protocol (main network) also supports bridging BTC anchor assets.

Malicious Nodes Attempt to Interfere with Monero Network via Sybil Attack

According to Reddit news, a group of malicious nodes being "actively managed" tried to interfere and destroy the Monero network through Sybil attacks in order to obtain information about users on the Monero blockchain. In response, former Monero lead developer Riccardo Spagni said that this is largely ineffective, and Monero's latest update makes it more resistant to such attacks. It is reported that a Sybil attack is a malicious attack on a P2P network, where individuals or organizations try to take over the network by using multiple identities to control multiple accounts or nodes. (Decrypt)

Uniswap will discuss core governance issues such as liquidity mining today

Uniswap announced that it will be holding an "unofficial community call" on November 12th at 12:00PM ET. The call is scheduled to discuss several core governance issues at the heart of Uniswap, including the future of its liquidity mining program. Uniswap's current liquidity mining program is scheduled to end on November 17, and the conference call will discuss whether to expand the existing program or revise it. (Cointelegraph)

Venture Capital Fund Polychain Capital Buys Another $2.1 Million YFI
According to a report on October 19, the venture capital fund Polychain Capital bought more than 300 YFI, worth about 4.6 million US dollars. (Cryptoslate)

Blockchain industry

Haidian District Justice Bureau "Lawyer's Practice Declaration" Blockchain Scenario Landed

Since the beginning of this year, the Haidian District Judiciary Bureau has actively connected with the Haidian District blockchain special class promotion team, actively communicated and discussed the blockchain application scheme for administrative approval matters many times. At present, the two programs of "lawyer's practice license" and "lawyer's re-practice license" in the administrative examination and approval items of the Haidian District Justice Bureau have successfully passed the blockchain application review of the district's government affairs services, the system development has been completed, and the blockchain scene has officially landed . (Beijing Haidian)

Transportation blockchain white paper released in Chengdu

At the Chengdu Forum of the World Transportation Conference, the first domestic transportation blockchain white paper compiled by a team composed of experts and scholars in the fields of transportation, finance, and the Internet - "Transportation Blockchain White Paper (2020)" was released. This white paper focuses on the development of the future blockchain + transportation field, and presents a comprehensive, systematic and professional research on blockchain applications in the industry, helping to transform the advantages of blockchain technology into the endogenous driving force for the transformation and development of transportation, and provide Development empowerment. (Chengdu Daily)

UNION, a decentralized finance (DeFi) protocol for building risk management tools, announced on November 10 that it has successfully raised a new round of financing of US$3.9 million. Investors include Alameda Research, Solidity Ventures, 3Commas, and Black Edge Capital. Thanks to this latest financing, UNION is expected to go live in the next few months. (The Block)

Investment and Financing

Blocknative, an ethereum blockchain data startup, completes $5 million in financing

Blocknative, an Ethereum blockchain data startup, has raised $5 million in funding. The financing was led by Blockchain Capital, with participation from IDEO Colab Ventures, Coinbase Ventures, Industry Ventures and Foundry Group, according to the company’s announcement on Tuesday. (The Block)

DeFi Risk Management Protocol UNION Completes $3.9 Million Financing

global policy

Biden team confirms encryption expert Gary Gensler will lead financial policy transition group

The Biden campaign officially announced on Tuesday that Gary Gensler, a former Goldman Sachs executive and former chairman of the Commodity Futures Trading Commission, will lead Biden's financial policy transition team. It is reported that Gensler is familiar with the wide application of encryption technology. (CoinDesk)

Argentine Congress is advancing digital currency related bills

According to news on November 11, Argentine lawmakers are about to submit a bill to provide a legal framework for digital currencies and encourage their adoption. Banks and companies could also choose to use digital currencies if adopted. In Argentina, inflation reduced the value of the fiat currency, the peso, by about 40% in 2019. (Coinpost)

Spanish Senate approves launch of new regulatory fintech testbed, allowing companies to launch crypto-related projects

Crypto and blockchain advocates in Spain have voted unanimously in favor of launching a new regulatory fintech testing platform that will allow companies to launch blockchain, bitcoin (BTC) and other crypto-related projects feel encouraged. (CryptoNews)

According to news from the Jiangsu Provincial Department of Industry and Information Technology, Jiangsu Province issued the "Jiangsu Province Blockchain Industry Development Action Plan". Key enterprises have established more than 10 blockchain innovation service platforms, and the province has formed a national-level blockchain development pilot demonstration zone, 3 provincial-level blockchain industry development clusters, and several blockchain technology innovation application trials The "1+3+N" industrial layout of the district. (Financial Association)

Character·Voice

Federal Reserve's Kaplan: Fed's future commitment to developing a digital currency is crucial

Federal Reserve Kaplan said it is critical that the Federal Reserve is committed to developing a digital currency in the months and years ahead. (Golden Ten)

Vitalik predicts that miners will be rewarded at each stage of ETH2.0: in 2021, they will no longer receive most of the TX fee income
Twitter netizen tomo asked V God, I want to know what will happen to the rewards of PoW miners after the (ETH2.0) phase 0, 1, and 2 phases. I know they will decrease, but how exactly?

Vitalik replied that the predictions for miners' rewards are as follows: keep the same now; by mid-2021, due to EIP 1559 (most fees are destroyed), miners will no longer receive most of the TX fee (txfee) income; when the merger occurs, PoW no longer exists.

MicroStrategy CEO: Gold and Bitcoin Cannot Coexist as Complementary Investment Assets

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