Bitcoin Core has just released a new update following the detection of a potentially serious vulnerability in the software.
Bitcoin Core Project released a statement dated September 18. The Bitcoin Core 0.16.3 features a fix for a denial-of-service (DoS) vulnerability.
The bug in the code can potentially crash the older versions of Bitcoin Core. This will happen if they ever attempt to process a block transaction that tries to spend the same amount more than once.
Since they are invalid, only miners can create such blocks according to the press release. For a miner to create these blocks, he will have to burn off a block of “at least” 12.5 Bitcoin (BTC). Currently, this is worth about $80,000.
The New Update
This new BTC Core update will eliminate a potential crash. It includes a feature that enables the software to “quietly reject” all invalid blocks that miners create.
Emin Gün Sirer is an associate professor of computer science at the Cornell University. He believes that the whole network could crash for a lower amount of money than “a lot of entities would pay for a 0-day attack on many systems.”
Furthermore, Sirer said that there are many “motivated people.” These people could bring down the network exploiting this opportunity.
Jason Glassberg is the co-founder of Casaba Security. He is of the opinion that the recent vulnerability found in the Bitcoin Core software could “take down the network.”
He also said that the network crash “does not appear” to target the wallets of users. However, it will “affect transactions in the sense that they cannot be completed.”
Furthermore, Cobra Bitcoin is the co-owner of Bitcoin.org. The organization said the vulnerability in Bitcoin Core was a “very scary bug”. The company also said that the bug had the potential to affect a “huge chunk of the Bitcoin network.” Hopefully these vulnerabilities are something of the past with the new update.
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