ethereum

A collection of 23 posts

tutorial

Unboxing Flash Loans

Everybody understands what regular loans are. You need to provide proof of income, reserves, or other information a bank may need to take one. There are, of course, uncollateralized loans where you don't need to put forward any collateral i.e., you don't need to provide any asset in case

tutorial Featured

Unboxing re-entrancy attack

The most known vulnerability in Smart Contracts. The one that made the Ethereum do a hard fork and split between Ethereum and Ethereum Classic. When it was first unveiled, it was during a multimillion-dollar heist which led to the split mentioned above in the chain. Five years have passed since

tutorial

Unboxing ERC20 approve() issues

ERC20 Token standard is the most adapted standard in the Ethereum ecosystem. It is widely used and easy to use. Many users of Ethereum already know what ERC20 token does and what functions it does how. But there is one function in the standard implementation that causes the most problems

ethereum

Unboxing EVM storage

Ethereum smart contracts use a rather abnormal storage model inside EVM. It is not necessarily useful to know and understand how data types are represented at a low level in a typical programming language. Solidity and other EVM-type languages are different as this knowledge is crucial as storage access is

NFT Featured

Introduction to NFTs

Ethereum is an ever-evolving platform. New protocols or standards are introduced frequently. Few of them are revolutionary that transcends beyond the Ethereum platform. One of them is ERC721 or, as many know it, NFT. NFT stands for Non-fungible Token. What does the non-fungible means? This means each token is unique

hacks

Monthly DeFi Blood Bath report

May had a staggering amount of hacks for DeFi protocols on Binance Smart Chain. I decided to summarize who was hacked, when and for how much. Let’s start as it’s a long list. Spartan Protocol When? May 1st How much? $30M Where? Binance Why? The incident was due

hacks

What happens when you don’t test enough?

Looking at the number of exploits I already covered, you can guess what I’m alluding too. You’re right. You get REKT! But sometimes you also get lucky…somewhat. Credit goes to @Mudit__Gupta [https://twitter.com/Mudit__Gupta] for reporting this on Twitter. Wild Credit was exploited for

security

$232M lost due to hacks in DeFi alone

I didn’t want to write another post like this, but at 10:36:20 AM +UTC, May 16, 2021, Bearn.fi was exploited, and $11M of funds was stolen from the pool. As Peckshield reports: > The incident was due to a bug in its internal withdraw logic in inconsistently

stablecoin

Stablecoins. The future we were promised

A Stablecoins is a cryptocurrency linked to a physical or digital asset or other fiat currencies, like US dollar, gold, or another cryptocurrency. Stablecoins come with all the benefits of standard cryptocurrencies. They allow us to send money directly and instantaneously to other people on the planet, whether it is

hacks

Is anybody safe from hackers in DeFi?

Another day, another hack. For some time, it was relatively calm. I mean somewhat as DeFi space had more than two days time span between hacks. On the 12th of May, XToken has been hacked for around $24M. Yup. Adding only hacks that have happened in May, ~$85M were stolen.

security

State of security of new DeFi projects

This will be a continuation of a rant on how clients should prepare for an audit. [https://www.adrianhetman.com/how-to-prepare-for-a-security-audit/] Opinions and views are my own if you haven’t catch that 😉 I’ve been auditing smart contracts for 8 months now. I’ve seen my fair share of

security Featured

How to prepare for a Security Audit

DeFi space is growing strong, TVL is growing even faster, and the stolen value from DeFi protocols. According to DeFi Pulse [https://defipulse.com], the Total Value Locked in DeFi projects is roughly $80.78B. $80.7B... That’s $15B more since I brought that number up in my article

DeFi

Intro to DeFi

This won’t be a long post as I don’t want to reinvent the wheel and re-tell the same story as many people have told it much better than I even could. I will do a really brief introduction to DeFi for those who don’t know what it

ethereum Featured

Four Hacks, one week

This was an interesting week. We saw four hacks; first, two happened to one company in few days, and the third hack fuelled a cross-chain attack that happened to my knowledge. Total value lost from Value DeFi and Rari Capital this week is around $36M, whereas $25M belongs to hacks

ethereum

Shanghai Hard Fork

Berlin, London, now Shanghai named after Devocon2, which took place in that city; Ethereum Core Devs like to travel, that’s for sure. London is defined, and we’re 99% certain what will be included. We’re not expecting any last-minute change to any EIP inclusion, so we can start

ethereum

London Hard Fork

With Berlin's hard fork already on the mainnet since April 15th, all the focus has shifted towards the next upgrades to the network and what do they bring. For you people not knowing what is a hard fork, here’s a quick explainer. A “fork” is a change to the

blockchain

New brave world after EIP-1559

In the upcoming London hard-fork, scheduled to happen in July, one significant change London is bringing is the inclusion of the famous EIP-1559. The gas killer, the prodigy, the all-awaited change in the gas fee marketplace. In summary, EIP-1559 changes how gas fees work in Ethereum. From the current system

blockchain

What the EIP/ERC!?

In Ethereum world ERC-XXX or EIP-XXXX phrases comes up quite often but for people new to the Ethereum world, this looks quite cryptic. What is EIP? EIP stands for Ethereum Improvement Proposal and it is a common way of requesting changes to the Ethereum Network inspired by Bitcoin Improvement Proposals

blockchain Featured

War on Gas

The main issue haunting the Ethereum network is gas prices for each transaction. High gas prices caused many problems and bizarre situations like Kings of Leon’s NFT were cheaper than a transaction cost when the release of their NFT. It's a massive problem for Ethereum making the applications more

blockchain

"The Docking" of Ethereum

After EIP-1559 [https://eips.ethereum.org/EIPS/eip-1559] scheduled to be included in London, there was an uprise in miners that threaten to do a show of force by gathering 51% of all hashing power on April 1st. If you don’t know what that means, here’s an explainer:

blockchain Featured

Why hackers can steal from DeFi?

DeFi, at the time of writing of this article, has over $65 billion dollars in Total Locker Value (TLV) according to DeFi Pulse [https://defipulse.com].  More than $230M were lost to hackers and scams in 2020 alone. This year's number is only increasing, and we already saw multi-million hacks

blockchain

You won't hear about this on the TV

Imagine a scenario where a hacker successfully steals money or stocks from some financial institution or maybe from hacking credit cards. A hacker stole $1.5 million in the total value of money. A scenario like this would potentially end up discussed on TV or some major media outlets. Imagine

blockchain

Finding a job in a Blockchain space

Finding a job is not always an easy task unless you’re super talented and have a ton of experience. But even people like that started from scratch. The question is, what did these people have done to get where they are? How did they got into that ? I don’