consensus

According to Cointelegraph, Ravencoin was attacked due to a consensus vulnerability, causing the price to drop to a historical low of $0.002754, down about 22% from the 24-hour high. The vulnerability allowed weak nodes to accept invalid blocks, with the first known exploit occurring at block height 4,487,776.Mining pools 2Miners and RavenMiner, which control the majority of the network's hash power, are building a competing chain that excludes the affected branch. If this chain becomes dominant, the network may undergo a chain reorganization of about three days, and transactions confirmed after block 4,487,775 may be reversed. Ravencoin has advised exchanges to suspend deposits and withdrawals until the chain stabilizes, and Upbit and Bitget have already suspended RVN transfers.

The PoW blockchain Ravencoin tweeted that its network has a critical consensus vulnerability that has been exploited, causing weak nodes to accept invalid blocks. The first known invalid block appeared at height 4,487,776. Currently, the majority hash power holders 2Miners and RavenMiner have stated that they are mining a chain that excludes the exploited branch starting from height 4,487,776.If this chain becomes the dominant chain, it may lead to approximately three days of deep chain reorganization. The official recommendation is for CEX to temporarily suspend RVN deposits and withdrawals until the network stabilizes; transactions confirmed after height 4,487,775 should be considered at risk. The official also emphasizes that this notice aims to increase transparency and risk awareness and does not represent an endorsement of any rollback or recovery plan.

Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), wrote in The Economist that the global derivatives market is entering a new stage of development, where financial innovation needs to lead, rather than introduce regulatory models that may restrict market development.Michael Selig pointed out that for decades, derivatives (including financial contracts such as futures, options, and swaps) have been important tools for businesses, farmers, investors, and financial institutions to manage risk and optimize capital allocation. Today, the nominal value of the global derivatives market has exceeded $1.2 quadrillion, with nearly half of the market regulated by the CFTC.He stated that the United States' leadership in the derivatives field is built on generations of market competition, strong institutions, effective regulation, and an open attitude towards innovation. For a long time, global regulators have regarded the CFTC as a benchmark for efficient market regulation.Selig said, "The new era of finance needs innovation, not consensus." The United States will not introduce regulatory measures that hinder market development but will seek a balance between innovation and market efficiency. During his tenure, the U.S. will continue to play a leading role in the formulation of derivatives market rules and financial innovation, driving the market to remain competitive.

According to Jinshi reports, Iran and Oman have reached a preliminary consensus on the reopening of the Strait of Hormuz, with an announcement of the agreement expected in a few days, pending approval from Iran's National Security Council.The agreement will last for 60 days and aims to restore navigation.

Michael Saylor posted on the X platform stating that BIP-110 signaling was voluntary before block 961,632. From block 961,632 to 963,647, its software will reject every block that does not signal.Any "100% signaling" displayed during this window reflects this rule, rather than voluntary support from miners or Bitcoin consensus.

Strategy founder Michael Saylor stated that Bitcoin has gained market recognition, but the biggest challenge in the future is not external competition, but rather the erosion of consensus rules from within. He believes that Bitcoin's consensus rules are like a "constitution," determining property rights, scarcity, settlement mechanisms, and boundaries of power. Any modification of the rules for the benefit of specific groups is an infringement on the economic rights of all participants.He warned that Bitcoin is expected to grow a hundredfold in the future and become the infrastructure of the global capital market, while a single erroneous rule modification could harm markets, technologies, and economic freedoms that have yet to be born. Saylor specifically pointed out certain proposals, including BIP-110, arguing that they undermine the neutrality of the Bitcoin protocol by limiting effective paid transactions, introducing contract mechanisms, or expanding block capacity. He stated that although these proposals take different forms, they all weaken the scarcity of block space, increase network bandwidth and verification costs, expand protocol complexity, and introduce new security risks. At the same time, weakening the fee market will affect miners' income sources after block rewards continue to halve, thereby undermining the long-term security of the Bitcoin network. Furthermore, once a particular interest group is able to modify Bitcoin rules through certain means, other interest groups will follow suit, leading to long-term conflicts in protocol governance, capital outflows, slowed innovation, and deteriorating network security. Saylor called for keeping the Bitcoin base layer simple, neutral, scarce, and secure, leaving innovation to the second layer and application layer, promoting development through voluntary adoption rather than frequent modifications of the underlying protocol, and emphasized that protocol upgrades should be approached with extreme caution and only advanced when truly necessary to maintain the foundation for Bitcoin's long-term development.

According to Jinshi reports, Mabrouk Chetouane, the Global Market Strategy Director at Natixis Investment Management, stated in a report that Federal Reserve Chairman Waller is unlikely to challenge the current consensus at his second monetary policy committee meeting. Chetouane pointed out that Waller will not succumb to the temptation of a 25 basis point rate hike, although at this stage, it is almost impossible to bring inflation back to target levels by the end of the year.Analysts generally expect the Federal Reserve to remain on hold on Wednesday, but the money market reflects a 38% probability expectation of a rate hike.

Bitcoin News posted on the X platform that Dathon Pwn claims to have discovered a BIP 110 late upgrade consensus vulnerability, which may allow nodes upgrading from old software to retain chain history, while newly deployed BIP 110 nodes would reject this history, potentially leading to a hidden chain split.

Founder of Strategy, Michael Saylor, stated that Bitcoin is a spontaneously evolved network system, where the influence of wallets is determined by the amount of satoshis held, the influence of nodes is determined by business activities, the influence of miners is determined by computing power, and capital, consensus, and network security together maintain a dynamic balance.

Michael Saylor posted on the X platform stating that strong consensus is the immune system of BTC, transaction fees price block space, nodes set policies, miners build blocks, and holders allocate capital. Changes to the protocol must achieve overwhelming consensus, so bad ideas will fail before they become interventionist bad protocol changes.

David Bailey, Chairman and CEO of the Nasdaq-listed Bitcoin treasury company Nakamoto, stated that the failure of the so-called "BIP-110" long-standing controversial event constitutes an "extreme benefit" for Bitcoin and believes it further validates the network's resistance to attacks and splits.This event is seen as a prolonged "governance layer conflict attempt" involving multiple games such as mining pool competition, client fork proposals, UASF (User Activated Soft Fork) mobilization, node consensus manipulation controversies, and large-scale information warfare surrounding social media and the developer community.David Bailey noted that this process validates the core characteristics of Bitcoin's governance structure: the final consensus is formed collectively by users, miners, developers, and industry participants, rather than being dominated by a single group. Historical similar events (such as BIP148) have proven that miners find it difficult to deviate from consensus, and this event further reinforces that conclusion, demonstrating the Bitcoin network's robust resistance to splits.

Michael Saylor posted on the X platform, stating that the future of Bitcoin is shaped by the dynamic consensus among nodes, miners, and holders. Among these, the influence of nodes is reflected in transaction validation rights, miners are represented by computing power, and holders are represented by economic weight. Only when validation, security, and capital align can protocol changes be approved.He further pointed out that while the forces of brands, laws, politics, technology, institutions, culture, and the physical realm may influence discussions related to Bitcoin, they cannot directly determine the outcome of consensus. Their role is mainly reflected in persuading, coordinating, constraining, or mobilizing nodes, miners, and holders.

The advisory committee of cryptographic experts led by Coinbase has released a report stating that Bitcoin should immediately begin preparing for potential quantum computing attacks. However, the committee did not take a clear stance on whether to freeze the millions of Bitcoins that could potentially be stolen by quantum computing in the future.It is reported that the committee members include several leading experts, such as Ethereum Foundation researcher Justin Drake, who believe that the current focus of the debate is not on how to introduce quantum-resistant signature technology, but rather on how to handle the Bitcoins that have not been migrated for a long time. One viewpoint calls for setting a deadline, after which the existing ECDSA and Schnorr signature schemes for Bitcoin will cease to be supported, and un-migrated assets will be frozen to prevent future quantum attackers from acquiring large amounts of BTC and impacting the market. Another viewpoint argues that this amounts to asset confiscation, contradicting Bitcoin's core principles of "immutability and user complete control of assets," and could set a precedent for freezing assets in the future due to regulatory pressure.The Coinbase advisory committee pointed out that the aforementioned proposals are not mutually exclusive and can be combined, but it refused to take a position on the issue of "whether to freeze legacy BTC," believing that the final decision should be governed by the Bitcoin community. At the same time, it emphasized two points: first, the technical development of quantum-resistant signature migration should be initiated immediately and should not wait for the governance debate to conclude; second, it is necessary to clearly communicate risk information to users to avoid long-term uncertainty affecting the Bitcoin ecosystem.

According to official news, Open Genesis (OG) will officially launch on June 13 at 13:13 Singapore time. The project is positioned as an AI + Web3 consensus ecosystem, operating on a purely on-chain smart contract architecture, with no APP, no DAPP, and no centralized backend, and core rules executed automatically on-chain.OG is currently developing a long-term ecological layout around AI applications, community consensus, and on-chain value networks, and exploring the integration path of AI technology and the Web3 value system.The official statement defines OG as "the world's first mechanism model fed by AI large models," promoting the formation of a new generation of on-chain value collaboration networks through the continuous accumulation of on-chain behavior, community consensus, and ecological data. By continuously accumulating value through community consensus and on-chain behavior, it becomes an important value infrastructure for future AI large model feeding and ecological applications.

Zcash core developer Sean Bowe published an update on the progress of the Ironwood upgrade, stating that in the past 48 hours, protocol developers from various organizations have held two meetings and reached consensus on several specifications and implementation details of Ironwood, including disabling Orchard pool bundling in Coinbase transactions, using anchors for hardware wallet migration authentication data, and the order of processing ZIPs and specifications. Currently, the Ironwood circuit and ZIP 2005 integration draft are under review. Valar Group has completed the setup of the testnet and implemented some changes on the wallet side.Meanwhile, formal verification work continues to advance, and the development team plans to hold a meeting tomorrow to determine the final verification strategy. In addition, at least three mainstream auditing firms are conducting security audits on Orchard, and multiple AI auditing tools have also been put into use. Sean Bowe stated that overall development progress is going smoothly.

The Zcash developers have completed the consensus rule changes for the Ironwood upgrade and plan to activate this upgrade in July. This upgrade will introduce a new privacy transaction pool based on the Orchard protocol to replace the old Orchard pool, and adjustments will be made to ensure that the circulating supply of ZEC remains constrained.According to the developers' plan, Ironwood will introduce a "flag" mechanism between the old and new Orchard pools, restricting the old pool from receiving new transactions while allowing for change generation as a privacy protection measure. After the upgrade is activated, the old Orchard pool will be prohibited from receiving new deposits, and wallets will route new transactions to the new pool.The developers stated that this design combines the existing turnstile mechanism to ensure that the circulating supply of ZEC cannot be infinitely minted and allows users to migrate their funds to the new pool to reduce potential risks.

The Zcash Foundation announced the release of the Zebra 4.5.1 version update to fix a consensus-level security vulnerability and strongly recommends that all node operators upgrade immediately.The vulnerability, identified as GHSA-2prc-cj5x-4443, involves a sigop (signature operation count) statistical error in P2SH transactions, which could lead to potential consensus fork risks. This fix corrects the incomplete patch issue from the previous 4.5.0 version, which was just released yesterday.The Zcash development team stated that the problem originated from discrepancies in sigop counting logic across different implementations, which could cause nodes to produce different results when validating transactions, thereby affecting on-chain consensus consistency. The fix was implemented by reverting and adjusting the Rust implementation logic to ensure alignment with the expected behavior of the protocol.The Zcash Foundation emphasizes that there is currently no workaround for this issue, and upgrading to 4.5.1 is the only way to ensure that nodes remain on the correct chain and avoid potential fork risks.