Ethereums Blockchain Just Split In Half

[ad_1]

Ethereum’s blockchain split in half due to a bug in a previous version of the main node’s software in the chain. The software, known as Geth, makes up around 75% of Ethereum nodes and up to 73% of Geth nodes have yet to update to the new version to fix the bug.

Don’t miss the way smart money plays the crypto game. Subscribe to our premium newsletter – Crypto Investor.

This means that around 50% of Ethereum nodes are running a separate chain with outdated and buggy software that could allow double spending.

Not only that, but other chains compatible with the Etheruem VM, like Polygon or Binance Smart Chain, could also be exposed to the problem.

Fortunately, this seems to have had little impact as most miners had already moved on to updated versions of Ethereum software. It seems that it is mainly the non-mining nodes that have yet to upgrade to the new version of the software.

Ethereum Foundation Security Officer Martin Swende said, “A consensus bug hit the #ethereum mainnet today, exploiting the consensus bug which was fixed in geth v1.10.8. Fortunately, most miners have already been updated, and the correct string is also the longest (canon). “

In other words, the “correct” (updated software chain) wins, but those who transact on the outdated and buggy chain may have their transactions reversed when they update to the correct chain.

This means that there is a possibility that individuals, or even some exchanges, who have not yet updated and are trading, are relying on a small amount of obsolete miners with very low hash power. This low hashing power could put them at 51% attack risk and double expenses.

The only obvious fix for this is for all nodes to update to the new software client, although some may be concerned if they don’t want to roll back the transactions they’ve made. Ideally, very few transactions have been done on the forked chain and most are willing to just update their nodes.

This story is developing.

[ad_2]