LONDON, March 1, 2019 /PRNewswire/ -- In their tireless dedication to making Bitcoin SV (BSV) the most secure, professional cryptocurrency on the market, the Bitcoin SV Node implementation team, a division of nChain, are always on guard. As a part of that effort, the team, working with Trail of Bits, recently caught three medium severity vulnerabilities in BSV, likely inherited from Bitcoin Core (BTC) and Bitcoin Cash (BCHABC), and immediately moved to address them.
In a recent press release, nChain detailed the three vulnerabilities, which have already been fixed by the February 11 0.1.1 release of Bitcoin SV Node. All three weaknesses in the code would allow bad actors to overload the network and node processors with useless packets, potentially overloading the system with traffic. It should be noted that the potential damage would not leave businesses or users at risk of losing any funds or transactions.
This is a great catch by the teams involved. Although a slow and crippled network might be par for the course for BTC because of its inability to scale, overlooking this weakness harms adoption and enterprise use cases for cryptocurrency.
Keeping the BSV environment secure and efficient is part of the routine for the Bitcoin SV Node implementation team. Steve Shadders noted in a January podcast that every piece of code goes through a process of error checking to ensure the network does not get exposed to harm.
In this case, a full security audit, partially funded by CoinGeek, helped catch the vulnerabilities. Daniel Connolly, Bitcoin SV Node Lead Developer, commented:
"By organising this security audit (with funding by CoinGeek) and by sharing the results in a responsible and secure manner, the Bitcoin SV Node team, nChain and our partners at CoinGeek demonstrate our commitment to increase the quality of Bitcoin software and professionalise the engineering process."
By finding the weaknesses, the team not only improved BSV, but also showed the BTC and BCHABC teams how they can fix the same vulnerability in their code. That benevolence is further proof of BSV's aim to be a more grown up and professional cryptocurrency.
The Bitcoin Association's Founding President Jimmy Nguyen remarked, "The results and improvements exemplify how the Bitcoin SV Node team is taking steps to prepare Bitcoin SV to have the reliability needed to become the world's new money and the global enterprise blockchain. It also demonstrates that Bitcoin SV is now leading the Bitcoin industry, even helping other projects that deviated from the Satoshi Vision for Bitcoin."