Critical Ethereum [ETH] Parity Consensus Bug Found


Ethereum [ETH] – Parity Technologies, the developers of the widely-used software that allows a secure interaction with the Ethereum blockchain, has just announced via their company’s Twitter page that their developers have discovered yet another critical bug within their software.

The severity of the bug has been deemed “critical” via their announcement on their blog.

The announcement reads:

“In the worst case, submitting a certain malformed transaction (coming from a 0xfff…fff address) to a mining Parity Ethereum node could have caused that node to produce a malformed block, which would still be treated as valid by other affected Parity Ethereum nodes… In case of such affected nodes providing a majority of hashpower on the net, this could have led to chain split.”

As such, Parity is now urging all of its users to update their software to the newly patched version.

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Hot Water

Last year, Parity was responsible for Ethereum’s largest-ever security exploit. A developer “accidentally” hit a vulnerable patch of code and froze over $160 million (at attack time) worth of ETH in all of its Parity multi-signature wallets. The hack froze up to 500 wallets and has left investors STILL unable to use their funds.

At the time of the freeze, most cryptocurrencies were reaching all-time highs and investors have been stuck watching from the sidelines ever since.

Back in December, co0founders Jutta Steiner and Gavin Wood told Mike Butcher that the issue could be fixed in a “general protocol upgrade.” Steiner said that funds could be returned in four-to-six months.

Wood chimed into the discussion by saying that the ETH isn’t “lost” and it should be now represented as a “long-term savings account.

Wow – just wow.

It’s a good thing the developers caught the bug in a test net, and quickly released a fix for developers.

Featured Image: Unsplash

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