Menu
Bitcoin glitch expected to abate as software upgrades continue

Bitcoin glitch expected to abate as software upgrades continue

The software clients at risk are those that use Simple Payment Verification, Bitcoin.org said

Bitcoin experienced a glitch over the weekend due to outdated software clients that mined invalid transaction blocks.

Bitcoin experienced a glitch over the weekend due to outdated software clients that mined invalid transaction blocks.

Bitcoin experienced a glitch over the weekend that is expected to be resolved as software clients that handle transaction data are upgraded.

Some software clients that "mine" bitcoins are creating invalid transaction data, which are referred to as blocks. Blocks are records of transactions, and the first miner to complete a block is rewarded with new bitcoins. The blocks are added to bitcoin's public ledger, called the blockchain.

Some software clients that had not been recently upgraded are accepting invalid blocks created by other clients, according to a notice posted on bitcoin.org.

Bitcoin transactions must be confirmed by other miners on the network. The software problem means that clients are showing confirmations of transactions that aren't accurate, the advisory said. Bitcoin mining operations have lost up to US$50,000 in income due to the problem, it said.

"Some software can detect that those blocks are invalid and reject them; other software can't detect that blocks are invalid, so they show confirmations that aren't real," it said.

The Bitcoin clients most affected are ones that do Simple Payment Verification, which rely on connections to other trusted nodes. Those SPV clients continue to build new blocks based on invalid ones, Bitcoin.org said.

Transactions processed by SPV clients and those on older versions of Bitcoin's Core client should not trust transactions that have less than 30 confirmations. Bitcoins transactions are usually considered complete when there are six confirmations.

Users are advised to upgrade to Bitcoin Core 0.9.5 or later. Those using Web-based wallets for bitcoins should be sure those applications are on current versions as well, the advisory said.

Send news tips and comments to jeremy_kirk@idg.com. Follow me on Twitter: @jeremy_kirk

Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags Bitcoin.orgInternet-based applications and servicessecurityinternet

Slideshows

Top 50 defining moments of the New Zealand channel in 2016

Top 50 defining moments of the New Zealand channel in 2016

Reseller News looks back on a tumultuous 12 months for the New Zealand channel, assessing the fallout from a year of sizeable industry change. Whether it be local or global mergers and acquisitions, distribution deals or job changes, the channel that started the year differs somewhat to the one set to finish it - Reseller News assesses the key moments that made 2016.​

Top 50 defining moments of the New Zealand channel in 2016
​Hewlett Packard Enterprise honours high achieving NZ channel

​Hewlett Packard Enterprise honours high achieving NZ channel

Hewlett Packard Enterprise honoured its top performing Kiwi partners at the second running of its HPE Partner Awards in New Zealand, held at a glitzy ceremony in Auckland. Recognising excellence across eight categories - from distributors to resellers - the tech giant celebrated its first year as a standalone company, following its official split from HP in 2015.

​Hewlett Packard Enterprise honours high achieving NZ channel
Nutanix treats channel partners to Christmas cruise

Nutanix treats channel partners to Christmas cruise

Nutanix recently took to the seas for a Christmas Cruise around Sydney Harbour with its Australia and New Zealand staff, customers and partners to celebrate a stellar year for the vendor. With the sun out, they were all smiles and mingled over drinks and food.

Nutanix treats channel partners to Christmas cruise
Show Comments