Well this is unexpected news……
Ethereum experienced a fork today and is now running multiple chains due to a software bug which has affected more than half the network.
The bug, which left some nodes updated, yet others still running the old protocol has led to the present chain split on Ethereum.
Sources say that if the problem isn’t resolved this could potentially lead to a double spend attack and even greater issues on the network.
Here’s what we currently know:
A consensus bug hit #ethereum mainnet today, exploiting the consensus-bug that was fixed in geth v1.10.8. Fortunately, most miners were already updated, and the correct chain is also the longest (canon)
PSA: Update to v1.10.8!
— M H (((Swende))) (@mhswende) August 27, 2021
Found exploiter's tx https://t.co/3I4mTowejK
— Igor Igamberdiev (@FrankResearcher) August 27, 2021
The bug in question is only present in older versions of the client, or those that came before the Geth v1.10.8 update. The update is also called “Hades Gamma.”
Ethereum developers previously disclosed this bug on August 18.
At the moment, there are 5,289 Ethereum nodes. Of that sum, the Geth client is the most popular software at 3,947 users.
A chain split has occurred on the Ethereum mainnet. The issue was resolved in the v1.10.8 release announced previously. Please update your nodes, if you haven't already!
— Go Ethereum (@go_ethereum) August 27, 2021
— Jeb💻 (@financejeb) August 27, 2021
The incident was used by Ethereum detractors to emphasize the problems that affect the network. Others, like Kevin Sekniqi, COO at Ava Labs, called the event a “nothing burger”:
Before anyone starts FUD-ing this, this is perfectly normal. Miners will upgrade, and this will be resolved quickly. This is frankly a nothingburger, although exchanges and other key ecosystem entry points need to be careful about having upgraded nodes.
A Bitcoin investor claimed that BTC “does soft forks” to prevent these types of bugs. However, Ethereum core developer Tim Beiko claimed that the bug was found “between two versions” of a client’s implementation.
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