Bitcoin Recent Hiccup: Understanding The Invalid Block
Bitcoin miner Marathon Digital found itself in the spotlight when it inadvertently mined an invalid block at height 809478 on the Bitcoin mainnet. The blunder was attributed to a transaction ordering issue, as revealed by pseudonymous Bitcoin developer and Spiral grant recipient 0xB10C. The incident underscores the intricacies and potential pitfalls of blockchain technology. At […]
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MARA Pool, the Bitcoin mining pool operated by the publicly listed Marathon Digital Holdings, had a transaction ordering issue on September 27 after it mined an invalid block at block height 809478. The invalid block was first picked by an X user, “0xB10C”, before Jameson Lopp, the CTO of Casa, a Bitcoin-focused company, later confirmed it. Lopp scanned his node and noted that MARA Pool had spent an output before it was created, validating a double-spent transaction. Marathon Digital Mined An Invalid Block In Bitcoin, a mining pool or an individual miner can’t approve an....
The new Block report, “Bitcoin: Knowledge and Perceptions,” is a tour de force. A massive online survey turned into surprising data. The phenomenally-designed publication challenges several assumptions that the public has about bitcoin. Block’s intention with it is to “provide a resource for decision makers to better understand people’s knowledge and perceptions of bitcoin across […]
It was too good to be true. A fingerprint sensor will be the authentication method of choice for Block’s hardware wallet. The company revealed new details in the March update of their newsletter, and some of them weren’t well received by the community. Besides the fingerprint sensor, the lack of a screen was also a […]
A virtual currency cannot be circulated in the market as a currency, therefore a vehicle sale contract wherein parties agreed that the buyer would pay with a privately issued digital currency is invalid, a Chinese court has ruled. The court asserts that a virtual currency does not have the same legal status as national fiat currency.
Not Protected by Law
A Chinese court has ruled that a vehicle sale contract, in which the parties agreed that the buyer would pay via a virtual currency, violated mandatory provisions of laws and administrative regulations and is therefore invalid.....
The Bitcoin community has a new problem to solve; the latest problem to hit digital currency is a double spending bug affecting Bitcoin wallets. The problem was discovered on 4 July as many Americans were busy celebrating Independence Day. Some Bitcoin miners are now generating invalid blocks, making it impossible to guarantee that currency can't be spent more than once. The Bitcoin Foundation assures users that all transactions confirmed by 15:00 on 4 July are safe. Double spending is supposed to be avoided by the Bitcoin protocol itself, which checks the block chain to check if any given....