Thursday, August 6, 2020
No menu items!
  • News
  • Blockchain
  • Cryptocurrency
  • Contact Us
More

    IOTA is Finally Back on Track; Coordinator Has Been Resumed

    Must Read

    Italy-Based Pasta Producer Adopts VeChain’s My Care to Manage Infection Risk

    The world’s third-largest producer of pasta, De Cecco, has reportedly adopted the Infection Risk Management solution My Care, which...

    When $400 Was Support for Ethereum (ETH) It Bounced 2x to Hit $800 –The Crypto Dog

    A popular cryptocurrency analyst and trader identified on Twitter as “The Crypto Dog” has averred that the second-largest cryptocurrency...

    Coinbase CEO Brian Armstrong Clarifies What Caused Delayed Transactions of Ethereum (ETH)

    The CEO of Coinbase, Brian Armstrong has recently tweeted to clarify what majorly caused the delayed transactions of Ethereum...
    Avatar
    Solomon Odunayo
    Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.




    IOTA is finally back on track after switching off the network for more than a month while dealing with the fallout from the $2 mln hack.

    Besides, IOTA has resumed its coordinator node that is designated to confirm all transactions and fend off attacks.

    This was shared by the IOTA Foundation via its official Twitter handle a couple of hours ago.

    “We are delighted to announce that the Coordinator has been resumed. Read about the steps taken to protect Trinity users, the role of the Coordinator & the future development of IOTA,” IOTA Foundation shared.

    Recap of the 2 Mln Hack

    The Tangle-based network was switched off on 13th February 2020, after some hackers took advantage of the vulnerability in the Trinity Wallet, resulting in the theft of relatively $2 mln. This measure was particularly taken to prevent further losses.

    This network suspension took IOTA relatively a month, which may have caused the drastic fall of the price of IOTA token in the market over the last month.

    According to the co-founder of IOTA, David Sonstebo, the victims of the hack will be duly compensated. Also, all Trinity Wallet users were encouraged to use the seed migration tool to foster the security of their tokens.

    IOTA is presently working to implement the Coordicide protocol upgrade to make the network decentralized without sacrificing its security.

    Going by a recent blog post published on IOTA’s official website, a new version of the Coordicide alphabet will be released very soon.




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    Italy-Based Pasta Producer Adopts VeChain’s My Care to Manage Infection Risk

    The world’s third-largest producer of pasta, De Cecco, has reportedly adopted the Infection Risk Management solution My Care, which...

    When $400 Was Support for Ethereum (ETH) It Bounced 2x to Hit $800 –The Crypto Dog

    A popular cryptocurrency analyst and trader identified on Twitter as “The Crypto Dog” has averred that the second-largest cryptocurrency by market capitalization, Ethereum (ETH),...

    Coinbase CEO Brian Armstrong Clarifies What Caused Delayed Transactions of Ethereum (ETH)

    The CEO of Coinbase, Brian Armstrong has recently tweeted to clarify what majorly caused the delayed transactions of Ethereum (ETH) that played out on...

    US Congressman: Bitcoin (BTC) Is Not Going Away, Will Rather Become Integral Part of Americans’ Future

    Bitcoin (BTC), the first and largest cryptocurrency has been garnering much-needed recognition lately. A member of the United States Congress, Tom Emmer, just made...

    $1 Billion Worth of Bitcoin (BTC) Transaction That Caught the Attention of Thousands of Investors

    A $1 billion worth of Bitcoin transaction has caught the attention of thousands of cryptocurrency investors and making waves among the crypto pundits. Bitcoin Whale...

    More Articles Like This