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Mikko Ohtamaa Profile picture
@moo9000
Sep 14, 2021 • 10 tweets • 3 min read • Read on X
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KB-96542804 How to turn a blockchain off and on again Image
To be honest, this process is not different I have seen on some other chains and during the EOS launch party.

1) Verify state and software version

2) Choose what chain to follow Image
What makes it interesting is slashing etc. and what happens with penalties for validators.

While events like this have happened before for chains, and many testnets, I do think the scale of this event sets a precendence.
Here are some of the Solana fixes Image
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Althouggh understanding the changes would one need to be an expert in Solana node codebase, which is only a handful of people, this tells an interesting story how to tune the train while it is moving.
Probably some of these issues could be caught in vigorous performance testing and network simulation - or they were but not released yet.

But any case, it is a very interesting story of engineering and (maybe) cascading failures en.wikipedia.org/wiki/Cascading…

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More from @moo9000

Mikko Ohtamaa Profile picture
Nov 14
UNITED ARAB EMIRATES BANS BITCOIN

I have bad news for all crypto habibis in Dubai, it's real.

The New Central Bank of the UAE Law was issued in the Official Gazette and became legally effective as of September 16, 2025.

The law in particular makes it a crime to offer any "tools," which include self-custodial Bitcoin wallets, blockchain explorers, and coin market cap sites, to United Arab Emirates citizens without a license.

"Importantly, this goes beyond simply prohibiting the carrying out of regulated activities without a license; it now expressly captures the facilitation of such activities, either directly or indirectly. This means that entities providing technological infrastructure, platforms, protocols, or digital tools that enable or support the delivery of financial services may themselves fall within the regulatory perimeter, even if they do not directly offer the underlying financial products or services."

No wallet. No Bitcoin. No problem. Even if no indirectly. Only Bitcoin you are allowed to own is one permitted by Central Bank of UAE.

The punished for breaking the law is jail time and fine up to 136 147 039,00 United States Dollar.

"Article 170 introduces a new criminal penalty for such conduct. Persons that engage in a licensed financial activity without a license may face imprisonment and/or a fine between AED 50,000 and AED 500 million, representing a significant increase over the penalties available under the 2018 Law. This is a notable development, and we may see increased enforcement in light of this new framework."

This should not come as a surprise, since the UAE has a repressive government with a rich history of limiting freedom of speech and freedom of the press. If you have ever visited the country, you know that even WhatsApp calls do not work.

en.wikipedia.org/wiki/Human_rig…

Earlier, such attempts to make self-custody illegal were made in Estonia, Seychelles (as pressed by FATF) and in the EU. Find my last years Devcon presentation about the topic in the next tweet.

As reported by @gibsondunn by Sameera Kimatrai and Aliya Padhani.

gibsondunn.com/uae-central-ba…Image
Here is my earlier conference presentation about the topic

Just to remind @SuperteamAE that Solana is a digital tool which enables and facilities cryptocurrency activities, so you now need a license from the Central Bank
Read 5 tweets
Mikko Ohtamaa Profile picture
Aug 21
1/ EVM PROXY HACKERS ARE BACK ON MORE CHAINS

If you are a smart contract developer and deploying upgrade proxy contracts, you are at risk.

This is even if you're deploying on chains without MEV, like @base

A thread

👇👇👇 Image
@base 2/ Some weeks ago, the Ethereum security researchers @VennBuild, @dedaub, @pcaversaccio and others discovered "a proxy initialisation poisoning campaign."

There were millions of dollars of value at risk.

@base @VennBuild @dedaub @pcaversaccio 3/ Even EtherScan-family explorers were fooled, making it harder to detect the issue:

Read 17 tweets
Mikko Ohtamaa Profile picture
Feb 21
The solution to "multisig confirmation hack" problem is human-readable transactions.

You need to have a trusted user interface i.e. your hardware wallet to be able to decode and tell you want the transaction is doing, instead of hashes, domains and other crap.

Some advanced blockchains built correctly ground up like @radixdlt have this feature already today. Also most Cosmos transactions are quite human readable.

docs.radixdlt.com/docs/manifestImage
The work needed to bring this to Ethereum could have been done with less than 1%, or $10M, what was lost today in Bybit hack.
Ledger is also working on this, they call it "Clear signing"

ledger.com/academy/topics…Image
Read 4 tweets
Mikko Ohtamaa Profile picture
Oct 6, 2024
1/ THE RAILS OF FINANCIAL SYSTEM

"Rails" is the software that moves money from one account to another. Rails matter because it is what blockchain seeks to improve, and is blockchains' ultimate source of value-add.

Why are current rails inefficient? Read the thread.

👇👇👇 Image
2/ We have a history of accounting; then, we have a history of financial systems: transfers between different people/companies.

Computers did not always exist for the latter. It was not until the 1950s and 1960s that IBM mainframes started to be used in financial systems.
3/ However, financial systems needed to scale even before computers. Because systems were paper—and human-based, a structure was created around this, and then this structure was put into formal regulation.

Thus, the regulation was created before computers. Image
Read 24 tweets
Mikko Ohtamaa Profile picture
Aug 25, 2024
1/ LONG THREAD ON @telegram AND DUROV'S ARREST IN FRANCE

- What does this mean
- Why is this happening
- What is going to happen next

👇👇👇 Image
@telegram 2/ I have been studying digital rights, privacy and freedom of information since I was in the university, many many years ago. Sadly, the news was expected.

This arrest is about bow an arbitrary government with your platform.
@telegram 3/ These rights have been eroding everywhere. More in authoritarian Russia, China, othres. Now this erosion has reached the liberal Europe.
Read 55 tweets
Mikko Ohtamaa Profile picture
Jun 26, 2024
DENMARK TO ABOUT TO BAN BITCOIN WALLETS

We have finally reached this point.

In the latest DeFi guidance of Danish FSA, the regulator goes too far: The guidance tries to capture everything in crypto regulation, including your Bitcoin wallet, using "interface" argument. DFSA says that interface providers must be regulated, including mobile app developers. You do not need to think about it too hard to realised that everything is an interface: your computer, your web browser, your Bitcoin wallet, Uniswap website and so on.

This is against the spirit and guidance MiCA. The "interfaces and frontends" must be regulated comes from the FAFT lobbying "how to squeeze crypto out of existence" - which in turn was directly from Gensler and co. While the intentions of DFSA might be good, this kind of overregulation does not help anyone. Trying to force everyone to be a regulated intermediate in a peer-to-peer world sounds cool, but you might as well be honest with your talking points and say "In reality we want to ban all cryptocurrencies, we are just sneaky about it" because this is the outcome.

What this means is that no one can offer Bitcoin wallets, DEX interfaces or anything that touches a token to Danish anymore because they would need to be regulated in Denmark.

dfsa.dk/Media/63854909…Image
2/ Banning peer-to-peer or "unhosted wallets" was earlier proposed by some far-left and far-right MEPs during the preparation of MiCA.

There are clear political forces in the EU that want to copy the Chinese model.

3/ This was also proposed earlier in Estonia:



The regulator had to make a hasty correction and backtrack changes after the public controversy:


crypto.news/estonian-plans…
Read 5 tweets

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