06 Jul '15, 1am

Bitcoin glitch expected to abate as software upgrades continue #technews

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 s...

Full article: http://www.pcworld.com/article/2944352/bitcoin-glitch-exp...

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