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TRON (TRX) Blockchain Threatened by a Lone PC

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TRON (TRX)
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TRON (TRX) has been one of the most innovative and modern projects in the entire crypto/blockchain space, and as such, it received a lot of praise during the past year. However, according to new data delivered by HackerOne, it appears that the network is not as flawless as it first appeared. In fact, the entire network could have been crashed by a single PC.

Bytecode attack that could have crashed the entire network

Since it was discovered, the vulnerability was dubbed the ‘bytecode’ attack. Simply put, this method requires the use of a large piece of bytecode that has the potential to consume TORN network’s resources, and potentially even completely shut it down, thus making it unable to process transactions or smart contracts.

The report claims that a single request to submit a post with a several megabytes-large bytecode, in addition to the CPU-intensive long parsing might have consumed the CPU for 10 minutes, while still holding the bytecode in a heap. The method could have easily led to a DDoS attack.

The TRON Foundation allegedly knew that there is some sort of a vulnerability, which is why they paid $1,500 to security researchers, tasking them to find it. At this point, the flaw appears to be resolved. However, the revelation remains shocking, especially for those involved with the cryptocurrency.

The issue was seemingly first reported around January 13th of this year, but TRON did not reveal it to the public until less than a week ago, on May 2nd. The Foundation used this span of a few short months to patch the bug, most likely with TRON’s latest version, issued about a month ago, on April 9th.

The report of the bug stresses the fact that a single computer could have caused a DDoS attack that would affect at least 51% of the network’s nodes. At worst, all of them would have crashed, thus making the network unavailable for an unknown period.

The blockchain-crashing bug worth only $1,500

So far, the TRON Foundation has not issued an official report of the matter, despite its severity and a massive impact on everyone involved. Of course, TRON is known for using platforms like HackerOne for hunting bugs, and many other crypto projects are doing the same. So far, it is estimated that various projects have paid around $878,000 to white hat hackers who managed to locate serious flaws that might damage different projects.

While $1,500 is a considerable amount, many believe it to be quite small, considering the size and severity of the flaw. If it were discovered by an unfriendly entity, it could have completely crashed one of the most popular and fastest-advancing blockchains in the industry. Estimates claim that the TRON network currently has the value of around $1.6 billion, while the project sees a daily trading volume of around half that amount.

While TRON’s price has not been a top performer in the recent period, it would have likely gone down considerably if the vulnerability was discovered by hostile entities. Not to mention other consequences, such as getting delisted on exchanges, or damaging the total market cap and reputation of the rest of the crypto space.

However, it should be noted that the flaw would not let anyone steal TRX coins, and the only way for hackers to profit from it would be from shorting after the network had crashed. Even that would be difficult, as not a lot of exchanges offer margin trading for altcoins. In other words, the only way to make a profit from the bug was to report it and get the $1,500 reward.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Encrypgen’s New HODLING Incentive Program May Send DNA Token Soaring

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Encrypgen
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Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months.  Those gains have created a much more enjoyable environment for crypto bulls.  Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood.  Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.

I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment.  The ones that do will do so because they created a platform that has real world usage.  After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).

Encrypgen Background Information

Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data. This creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.

Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem…

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Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Altcoins

TRON (TRX) Is Likely to Go Big in June

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We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

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