On the last day of 2019 Ethereum (ETH) managed to survive the attack that came very close to shutting down its entire network.
Australia’s blockchain developer Liam Aharon said the attack took advantage of the software flaw in a heavily used Ethereum client.
“The attack is simple: You send a Parity node a block with invalid transactions, but a valid header (borrowed from another block). The node will mark the block header as invalid and ban that header forever, but the header is still valid, ”said security consultant Sérgio Demian.
Aharon said the attack failed because of the Geth client that is immune to this particular attack. If ETH did not have this client, the attack would have serious problems for the crypto.
The attack was apparently something that Ethereum was able to win very easily. However, this year the XRP may bring more difficulties for altcoin. XRP has successfully outperformed ETH in overall transaction value.
Ethereum, which often has a daily XRP lead in transactions, saw this unexpected change in early 2020.
Normality hovered in the crypto market on the first day of the year. ETH recorded more than $ 80.4 million in transaction value. Already the XRP got only $ 20.34 million. However, the scenario changed when the XRP reached $ 214.34 million in transaction value.
In addition to beating its own record, it managed to beat the market’s leading altcoin. On the same day Ethereum made just $ 137.26 million.
This can be a one-time event. However it is still early to be sure.
The stakes for Ethereum to shine in 2020 are big. The popularity of DeFi (decentralized finance) can be a major cause of ETH’s prominence. That’s because the growth of DeFi applications has focused on altcoin’s blockchain.
Dapp.com has revealed that over 75% of DeFi applications are active on Ethereum. While EOS comes in second with only 11% of applications.
Throughout 2019 DeFi applications were able to outperform gaming and gambling applications in user numbers over various points of the year.
As reported by Bitcoin Guide, Ian Balina, fluent blockchain specialist and ICO and CEO of Token Metrics, believes Ethereum could outperform Bitcoin in market value in the 2020s.
Prediction: Ethereum surpasses Bitcoin in market value in the 2020s. This is inevitable. Sorry for the $ BTC maximalists. $ ETH wins in the end. ”