Bitcoin, Crypto currency, Blockchain

Bitcoin: the system error had since 2017 fraud

Bitcoin: the system error had since 2017 fraud

Home News Bitcoin: the system error had since 2017 fraud allows

Matthias Nemack –

Prior to possible fraud experts warn in crypto currencies regularly, even if the currencies are always safe. Industry experts point currently, but not for Malware, but a bug in the System itself, the Criminal would have been able to take advantage of.

Technology experts to trace back the bow until September 2017

Among other things, it is the beginning of a month, the specialists from the portal Heise, who would come on a Bitcoin Bug that is created for a User with the appropriate criminal intent, such as – did you know from the error in the Blockchain of Bitcoin. Since September 2017, the current messages, to have passed the Bug. The consequences would be very serious, would have become the Problem in public. So a so-called Double would have been-Spend is possible, as the experts report. What is meant is the following: The error allowed credit of two – can be paid had instead of once. In the usual scenario, within the Blockchain to prevent this, the different Nodes communicate with each other.

Double withdrawal option was only part of the problem

The Bug was in the code of the crypto-currency, so that any misunderstandings have been part of the regular Routine Checks on the Blockchain-internal transactions and thus double the payouts theoretically possible. However, not every User would can criminal Profit – the global miners and Mining farms would, however, have been able to manipulate it with the appropriate amount of effort blocks. According to Heisenberg, the Dilemma, however, was less the potential loss of capital. Rather, it was the Option to create an illegal block that would have been permanently part of the Blockchain. Because corrections afterwards are not practical due to the connection to the previous Block in the chain.

Sources of error will be corrected

For many insiders, the Bug could be Bitcoin, even an existential threat to the most important Token. In spite of the continuous subjunctive this shows There is still potential for optimizations to crypto-currencies, such as the Dash or just in this particular case, the Bitcoin safer for the user. It is pleasing to note that the Bug noticed until now, and greater intervention by the Criminal are not apparently occurred. Many complications have been overcome in recent years by the developer.

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