21 Mar '14, 3pm

Developers fix Bitcoin software to prevent the next Mt. Gox

The developers who contribute to Bitcoin’s open source software are doing everything in their power to prevent another Mt. Gox fiasco. Mt. Gox, formerly one of the largest Bitcoin exchanges, suffered a cataclysmic implosion when it announced it had lost more than $400 million in Bitcoin . The latest version (0.9.0) of the “Bitcoin Core” infrastructure software contains five changes intended to prevent transaction malleability attacks, which is the official explanation offered by Mt. Gox for the missing Bitcoins, according to Ars Technica . Malformed transactions appear similar to legitimate, previously processed transactions, fooling the Bitcoin software. Those illegitimate records didn’t sync with the Bitcoin blockchain, leaving a disparity between the actual location of the funds and the exchange’s records. But now, thanks to tightened transaction rules, those “mutated t...

Full article: http://venturebeat.com/2014/03/21/developers-fix-bitcoin-...

Tweets

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