Another Serious Bug Has Been Found in Bitcoin Cash Blockchain
August 13, 2018
Bitcoin Cash has another critical vulnerability. A toxic block has been discovered in the cryptocurrency's blockchain. This block can potentially disrupt the whole blockchain, dividing it into two parts, halting transactions from completion and causing the decrease of the price.
The bug was found by Cory Fields, a Bitcoin Core developer at the MIT Media Lab.
He described the vulnerability in his official blog:
"Working through this bug, which certainly had the potential for catastrophe, has reaffirmed my belief that the threat of software bugs is severely underestimated in the cryptocurrency world. [It is] a real-world example of how much work is still required to reach the sophisticated level of engineering that cryptocurrencies require, and as a wake-up call to companies who have not adequately prepared for this type of scenario."
2018 became the year of major security issues of cryptocurrencies. Cryptocurrency is software, and software always has bugs and errors that can be exploited. As the popularity of the cryptocurrency industry among institutional investors rises, there are more money in the industry. This, in turn, attracts hackers, who want to hack blockchains and steal this some money.
Some project found exotic ways to protect their product. For example, EOS distributes bounties to hackers, who find bugs in their blockchain. A total of $417,000 has been distributed since May. Bitcoin Cash lost 7% after the discovery of the bug.