Mining pools are major power players in the Ethereum ecosystem. With miner-extractable value (“MEV”) growing exponentially, the passing of EIP-1559 and the upcoming merge, they have become louder and increasingly important actors in the ecosystem.
For the uninitiated: mining pools are software providers who enable many mining machines to pool together their mining power and share rewards. Mining pools are essential in PoW mining on two levels: first, because earnings for individual miners are highly volatile, and second, because setting up the software infrastructure around mining is increasingly complex. …
MiningDAO is a protocol aiming to make block production on Ethereum transparent, trustless, and decentralized. The most urgent use-case is miner-extractable value (“MEV”).
The protocol allows anyone to propose entire blocks to be mined, with a reward attached for mining them. Mining pools can select the blocks with highest rewards, all without ever knowing the actual contents of the proposed blocks. We expect MiningDAO to be the most profitable choice for mining pools due to enhanced opportunities for earning MEV. Compared to existing systems, MiningDAO minimizes reliance on centralized servers and assumptions of honest miner behavior.
TL;DR: Mimblewimble’s privacy is fundamentally flawed. Using only $60/week of AWS spend, I was able to uncover the exact addresses of senders and recipients for 96% Grin transactions in real time.
The problem is inherent to Mimblewimble, and I don’t believe there’s a way to fix it. This means Mimblewimble should no longer be considered a viable alternative to Zcash or Monero when it comes to privacy.
In the last two years, Mimblewimble has grown in popularity as an up-and-coming, lightweight privacy protocol. Mimblewimble was invented in 2016 by a pseudonymous hacker known as Tom Elvis Jedusor, who dropped a…
By now everyone has heard of CryptoKitties, a cute game that went viral to the point of overloading the whole Ethereum network. This is the inside story behind how we made $107K investing in CryptoKitties and briefly set the record for the largest sale ever (currently second-largest). Later, we made ~$8K running an automated arbitrage bot. While playing the speculation game at the height of the mania was exciting, the bot was fairly technically involved and will be interesting to people who want to learn blockchain engineering in general.
This post is a deep-dive into programmatically trading on the Ethereum / Bancor exchange and exploiting a game-theoretic security flaw in Bancor, a high-profile smart contract on the Ethereum blockchain. The full code can be found at https://github.com/bogatyy/bancor. We collaborated with the Bancor team to make sure the current exploit is protected against, although for a little while there would still be a chance to make some beer money for educational purposes.
Imagine trying to hack Bank of America — except you can read all of their code in advance, all of their transactions are public, and if you steal…
Ethereum researcher and builder @mining-dao