NEO News: Did The "Unforkable" Blockchain Forked? Thursday, August 16
Important NEO Cryptocurrency News
Did NEO Forked?
NEO was designed and thought to be unforkable. However, just recently due to a known issue a NEO forked happened. One of the community members toghrulmaharramov explained in details in a reddit blog post what happened to NEO.
NEO uses a dBFT protocol, which is short for delegated Byzantine Fault Tolerance. It stems from PBFT (Practical Byzantine Fault Tolerance), which uses a three-phase agreement protocol. It consists of Pre-pare, prepare and commit stages. The original dBFT omits the third phase of the agreement in order to decrease the communication complexity. This also increases its efficiency. However, it has been discovered that in some very rare cases, due to the lack of the third phase, the protocol allows replicas to produce two valid blocks with different hashes.
This event has created a discussion within the community and among the developers, as they are now thinking about fixes and consensus updates which could prevent such situation in the future.
In the reddit discussion one of the users explains: "The solution is to implement the more secure 3-phase agreement protocol. This adds a new phase where there is essentially a double-check of the block hash before it is sent to the network. This will add an additional slight delay to consensus, but there are lots of new optimizations to dBFT in the works that will invalidate the delay, so it shouldn't be anything to be concerned about. If anything, this just helps force the hand and get a nice security improvement in place."
NEO Price Analysis
Last week, NEO has been confidently trading slightly below $25 mark, with the price chart having a downward trend. It has been slowly falling down day by day, with a more significant price change happening on August 11th, when NEO fell from $20 to $17.81. It then recovered a little bit and fluctuated above $18.50 just to experience the negative cryptocurrency market movement with Bitcoin affecting most of the coins. NEO hit the lows of $14.34. At the moment, it is on its way to a recovery and has already increased to $16.91.
NEO/USD Price Chart, Thursday August 16th:
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