April 2014

Viewing posts from April , 2014

Development Update

It’s been a busy week in Vertcoin land. We have been researching different solutions to the reported issue about a time warp attack on the algorithm we use for difficulty retargeting (Kimoto’s Gravity Well), the issue is not particularly serious for VTC since our hashrate is large enough that a 51% attack (which this is) is very unlikely – in other words, we are not really vulnerable to the exploit being used against us. Since a 51% attack has various bad consequences anyway (which cannot be fixed, and affect _any_ blockchain based PoW cryptocurrency) we may elect to simply monitor the situation and have preparations in place – a fix would require a hardfork, so if a hardfork were to become necessary for any other reason in future, we would fix the KGW timewarp vulnerability at the same time, but the cost/benefit balance to fix it on its own is such that it’s not likely we’d hardfork simply to patch this issue on its own.

A release for the heart bleed vulnerability was released in a new version of OpenSSL so Paul pushed out a quick update for that. I believe Vertcoin was one of the first coins to patch the issue!

We also released a press release in the runup to the NYC CryptoCurrency Convention, which generated a good bit of media attention, and helped set the stage for the great success we had on the day – the convention turned out great – a big thanks to Joe, J, Celeste, Brad and all the rest of the conference team.