Bitcoin

Bitcoin Daily: Facebook Loosens Crypto Ad Ban; TRON Flaw Could Lead To Network Freeze

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Facebook announced that it is loosening its ban on blockchain and cryptocurrency-related ads.

“We’ve listened to feedback and assessed the policy’s effectiveness,” Facebook wrote in a blog post. “While we will still require people to apply to run ads promoting cryptocurrency, starting today, we will narrow this policy to no longer require pre-approval for ads related to blockchain technology, industry news, education or events related to cryptocurrency.”

The company’s decision comes after reports that the social media giant is working on its own blockchain project, including a cryptocurrency-based payments system. Facebook has reportedly been working on the project — code-named Project Libra — for more than one year, with it centered around the company’s own digital coin that users could send to each other, as well as use to make online purchases. And last month, it was reported that Facebook was looking to raise  as much as $1 billion in investments for the Project Libra initiative.

In other news, a serious flaw in the TRON wallet could have led to a network-wide freeze.

The TRON network currently has more than 2.79 million accounts, with 1.9 million daily transactions. But a flaw would have allowed anyone to consume the resources of multiple SuperRepresentatives, which would ultimately freeze transactions.

“A single request to submit a post to/wallet/deploycontract with several megabytes of bytecode along with CPU intensive long parsing will consume CPU for about 10 minutes while still holding several megabytes of bytecode in heap. With enough requests (lets say 1K-10K depending upon available memory), its enough to use all the available threads to service incoming HTTP request, fill up the memory and render DDOS,” a HackerOne disclosure revealed.

And Binance’s Zhao Changpeng made the controversial suggestion of carrying out a blockchain rollback.

Changpeng said in a video and several tweets that he had thought about rewriting a large portion of the digital ledger that underpins bitcoin to reverse the recent theft of about $40 million worth of the crypto, but ultimately decided against the idea.

“Talk of forking or reorganizing the blockchain is close to heresy,” Michael Novogratz, the billionaire founder and head of crypto company Galaxy Investment Partners LLC, tweeted, according to Bloomberg.

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