The ‘High Severity’ Bug in Bitcoin Code that Could Have Crashed the Entire Bitcoin Blockchain Detected & Fixed: Bitcoin Core Developers Say

In what could have turned into a scare to the future approval of Bitcoin (BTC), Bitcoin core developers were lucky to notice and fix a potential susceptibility that could have permitted malicious people to bring down the whole network.

Bitcoin Crash Deterred

BTC Core engineers- programmers who maintain and upgrade the BTC Code- have dodged a major network attack by promptly detecting and removing a bug thought to be of high severity- one of the ‘top three or four’ dreadful bugs ever found in BTC.

The Impact of the bug

Emin Gun Sirer, an associate professor of computer science at Cornell University, believes that the bug could have allowed malicious people to crash the entire Bitcoin network. Such acts could have made the Bitcoin Blockchain useless, but thanks to the BTC Core programmers who came up with an updated version on 17th September 2018 that mended the openness.

The Need for More Quality Checks

BTC is the main and the first digital currency to be conceptualized into the crypto world, which allows instant peer-to-peer (P2P) transfer of money using blockchain invention. Transaction activities are kept in a distributed ledger, a code which is kept on every node of the network, making it a fully decentralized network.

The transactions are authenticated by nodes on the network, eradicating the necessity for third parties and facilitating money transactions in a trust-less setting. The blockchain technology has since established applications beyond money transfers. The second and third versions of blockchains permit the development of smart contracts and other decentralized uses.

Although it is common knowledge that any software tends to contain residual shortcomings, for BTC and other digital currencies to sustain and reinforce the confidence put on them by the swelling number of enthusiasts and investors, advanced quality strategies for detecting bugs are needed.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.