Understanding the Bitcoin Mempool and Why It’s So Important

The Bitcoin Mempool is a critical component of Bitcoin's core functionality. Mempool is simply a shortened version of the phrase “Memory Pool.” This protocol is the first place that any new transactions are noted on Bitcoin's blockchain. In essence, it’s a holding pen for all pending transactions before they are presented to miners. Notably, every node maintains a Mempool. Mempool allows Bitcoin’s network to keep track and manage all of its transactions in an organized and democratic manner. Remember, Bitcoin…

6 Common Vulnerabilities In Smart Contracts

At the end of 2023, the global smart contract market is expected to reach approximately 300 million USD. Smart contracts are useful for peer to peer transactions in blockchains. They are also helpful for trade finance, insurance to improve claim processing, stock taking, and record keeping.  Much as these blockchain applications are useful in various industries, they may not always be safe and are prone to attacks. The effects of smart contract attacks are very devastating and can cause significant…

Bitfinex and OKEx Victims of DDoS Attacks

The crypto-exchange services provider Bitfinex has announced earlier today that it experienced a denial-of-service (DDoS) attack. As a result of the attack, its website and services were forced to go offline in a majority of regions in just under an hour. The Exchange has otherwise announced a resumption of services on its platform. Comparatively more powerful protection has also been set up as a result in a bid to lessen the repeat of such an attack. This is according to…