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Bitcoin under threat of destruction due to simple bug

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A vulnerability in the Bitcoin cryptocurrency network could lead to users not being able to send transactions, and miners unable to add blocks. The problem has been known for at least 8 years, and its solution will require a hard fork.

The bug in the Bitcoin network that can cause the network to stop. The expected time for the bug is predicted to be in 2106, so it’s too early to worry about it. The problem can be fixed, this will once again require the use of a system for approving changes in the cryptocurrency protocol, writes CoinDesk.

Bicoin Core contributor Peter Wülle said that the problem has been known since at least 2012. The bug lies in the fact that Bitcoin blocks are containers in which transactions are stored. Each block has its own serial number. However, their peculiarity lies in the fact that the network will run out of such numbers after block 5101541. Therefore, after it, it will no longer be possible to add new blocks to the blockchain.

To fix the problem, it will be necessary to hard fork. All miners and node operators will need to update their software to support the update. It will be aimed solely at keeping the network operational, so it should not cause controversy.

Earlier, Twitter user MasterChangz, who is trying to hack crypto wallets by brute-forcing private keys, said that the bitcoin code would be cracked in 5 years, as the computing power of the technology increases by 900% every two years.

Lena S.
Lena is an adventurous soul searching the world for truth and balance. She is a mother of 2 beautiful daughters and a full time writer for Financial News where she covers various topics from finance, government, politics, current events, crypto and technology.

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