According to the latest remarks from the crypto industry insiders, the latest Bitcoin Core update has apparently saved the Bitcoin network from crashing. Bitcoin Core 0.16.3 was released with a solution for a denial-of-service (DoS) susceptibility.
20 September, AtoZ Markets – In the latest news, Bitcoin Core, the client software utilized to access the Bitcoin network, has released an update after a vulnerability has been spotted in the software.
Bitcoin Core Update Saves Network
According to the official press release from the Bitcoin Core Project, Bitcoin Core 0.16.3 was released with a solution for a denial-of-service (DoS) susceptibility. The vulnerability could supposedly cause a crash of older version of Bitcoin core in case they tried to process a block transaction that attempts to spend the same amount twice.
As per the press release, such blocks can be only formed by a miner since they are not valid. To create such a block, a miner would need to burn a block of “at least” 12.5 Bitcoin. The team writes in the press release:
“Security issue CVE-2018-17144: it was discovered that older versions of Bitcoin Core will crash if they try to process a block containing a transaction that attempts to spend the same input twice. Such blocks are invalid, so they can only be created by a miner willing to sacrifice their allowed income for creating a block of at least 12.5 BTC (about $80,000 USD as of this writing). This release eliminates the crash, allowing the software to quietly reject such invalid blocks.”
An Associate Professor of computer science at Cornell University, Emin Gün Sirer, stated that the entire network could have been collapsed for less money than “a lot of entities would pay for a 0-day attack on many systems.” He added that there are many “motivated people” that are able to take this opportunity to bring the network down.
Likewise, the co-owner of Bitcoin.org, Cobra Bitcoin, has stated that the recent issue in Bitcoin core is a “very scary bug” that could have affected a “huge chunk of the Bitcoin network.”
How to Upgrade Bitcoin Core
If you have an older version of Bitcoin Core software, shut it down. After you make sure that it is completely off, you can run the installer on Windows or “just copy over /Applications/Bitcoin-Qt (on Mac) or bitcoind/bitcoin-qt (on Linux).”
The Bitcoin Core team explains that your chainstate database will be converted to a new format in case it is the first time you run version 0.15.0 or any newer version. This can take some time, depending on the speed of your device.
According to the team, the “block database format also changed in version 0.8.0 and there is no automatic upgrade code from before version 0.8 to version 0.15.0 or higher. Upgrading directly from 0.7.x and earlier without re-downloading the blockchain is not supported. However, as usual, old wallet versions are still supported.”
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