Here’s what happened in crypto today

Today in crypto, Ethereum postponed the Glamsterdam testnet fork after ChainSecurity warned that proposed gas changes could undermine existing smart contract safeguards. Bitcoin mining competition intensified as network hashrate reached a seven-month high despite the industry’s shift toward AI. Separately, Starknet voters backed research into becoming an independent layer-1 blockchain.

Ethereum delays Glamsterdam Hoodi testnet launch over security risks

Ethereum developers have postponed the Glamsterdam hard fork on the Hoodi testnet after researchers identified gas-related security risks that could affect how existing smart contracts handle failed transactions.

The Ethereum Foundation (EF) said that the upgrade, originally scheduled for Oct. 26, would be delayed to allow developers to investigate how some proposals interact with smart contracts deployed on Ethereum. 

On Oct. 13, Blockchain security firm ChainSecurity warned that two proposals included in Glamsterdam, EIP-8037 and EIP-8038, could weaken safeguards against a type of attack called insufficient gas griefing. 

The postponement raises uncertainty over Glamsterdam’s mainnet timeline. Ethereum developers had been considering early December, with plans to finalize a schedule following successful Hoodi testing. 

Bitcoin mining competition heats up despite AI exodus

Bitcoin’s network hashrate has reached a seven-month high despite major mining companies shifting their computing capacity toward AI, signaling growing competition in the space, according to BlocksBridge Consulting.

Bitcoin’s seven-day average hashrate has climbed above 1 zettahash per second for the first time since March 3, suggesting that computing power leaving the network is being replaced by other miners.

Hashrate measures the computing power securing Bitcoin’s network, while mining difficulty determines how hard it is to earn new Bitcoin.

Mining difficulty increased 5.92% on Oct. 16, with BlocksBridge projecting another 5.16% increase at the next adjustment. Combined, that would represent an 11.4% increase across two adjustments, making it harder for miners to earn rewards.

The increase comes despite publicly traded mining companies reporting a 23% decline in realized hashrate as they redirect resources toward AI. Their AI-related revenue increased 52% quarter over quarter.

BlocksBridge estimates that roughly $1.5 billion worth of mining equipment has been displaced by the transition.

Some of that hardware may be finding new buyers among smaller miners with access to cheaper electricity, allowing them to expand operations while larger competitors pursue AI.

Starknet voters back research into life beyond Ethereum

Starknet’s community has voted to support research into becoming an independent, post-quantum layer-1 blockchain.

The network’s potential departure from Ethereum gained overwhelming support. The governance vote that ran for seven days closed on Thursday. The poll drew about 3,200 votes, with 93.52% of voting power in favor of the transition.

The non-binding poll recorded the highest participation in Starknet’s governance history, according to StarkWare, which said it abstained from voting to leave the decision to the community.

The outcome allows StarkWare and the Starknet Foundation to proceed with research into an independent L1. The actual shift itself would require a separate, binding governance vote. For now, Starknet will continue operating as an Ethereum layer-2 network. 

“We’re beginning work on a whitepaper even before we start the weekend, and hope to release a draft for public scrutiny in November,” StarkWare CEO Eli Ben-Sasson told Cointelegraph.