BLOCKCHAIN FOR NEWBIES
Normally, a non-recursive function cannot be entered into before it completes execution. However, a hacker can use the reentrancy attack to enter the function as many times as they want. If used properly, the hacker can drain a smart contract of all its gas. The most famous example of this was the DAO attack when $50 million worth of ether was siphoned away via the reentrancy attack.
OmiseGO is a decentralized payment platform built off the Ethereum blockchain. Launched in 2017, OmiseGO is a project by the company Omise, an Asia-based payment processor operating in much of Southeast Asia. Using blockchain technology, OmiseGO solves the fundamental issue of different entities (banks, people, companies) coordinating transactions of various assets with each other in a trustless society
A guide to available tools, components, patterns, and platforms for developing on Ethereum.
Smart contracts were never intended to be legal contracts. Nick Szabo wanted to create new digital institutions: agreements enforced in code, rather than courts. It was obvious that physical courts (paper-driven, inefficient intermediaries that they are) could not keep pace with the Internet. A rapid influx of cross-jurisdictional transactions would further overwhelm a system already struggling to provide access to many.
The tech and investment worlds are abuzz over blockchain and cryptocurrencies. According to CoinDesk, venture capital funding allocated to the space has steadily increased since 2013, and in 2017, the number of global crypto-focused funds exploded from less than 40 to over 200 by year-end.