Why is a bug in bitcoin code dangerous? How to travel all around the globe for one BTC? Week’s digest

Why is a bug in bitcoin code dangerous? How to travel all around the globe for one BTC? Week’s digest

Bitcoin holders received a new version of Bitcoin Core wallet with updated functions. Meanwhile, developers of cryptocurrencies based on BTC blockchain should be careful: fraudsters use an inflationary bug for coin issuance to its fullest. Read the weekly digest to find out more.

Belarus and Switzerland share experience

The Belarusian delegation chaired by Senator Mikhail Orda visited Switzerland with the aim of developing cooperation in the spheres related to digital technologies, particularly cryptocurrency market.

The Belarusian delegation visited Zug-based Crypto Valley, the Swiss AI Lab IDSIA, and the Swiss National Supercomputing Centre in Ticino. Vsevolod Yanchevsky, Director at Belarus Hi-Tech Park, also was a member of the Belarusian group that met FINMA managers and talked to Swiss businessmen.

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As reported by Vsevolod Yanchevsky, the Swiss officials were impressed by a breakneck speed of high technologies in Belarus as well as sound legal actions towards cryptocurrencies the country undertakes.

Bitcoin Core is updated to 0.17.0 version

The development team headed by Wladimir van der Laan presented the seventeenth generation of software for bitcoin holders called Bitcoin Core 0.17.0. It took seven months to finish the project characterized by new functions and elimination of old bugs (at users’ request).

The latest version of Bitcoin Core offers an improved coin selection algorithm that optimizes certain transaction exits. The developers also removed restrictions on the creation of a new wallet: currently, it’s possible using any graphical interface.

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What is more, the problem of HD and non-HD wallets doesn’t exist anymore in Bitcoin Core 0.17.0. Beside, Scantxoutset function is available here (permitting to easily check whether a new wallet stores money). The seventeenth software generation supports the framework of partially signed bitcoin transactions (PSBT) BIP 174 as well as allows an easier procedure of launching new nods.

Blockchain enthusiast traveled over 18 countries for one BTC

Rafael Hauxley traveled over 18 countries during a year and spent merely one bitcoin bought in August 2017. The crypto enthusiast was collecting information for a documentary dedicated to the DLT realm. While traveling, Rafael conducted 20 interviews about the bitcoin hype and met crypto community leaders, particularly Vitalik Buterin.

The total size of the gathered video material is 178 hours. The enthusiast is going to use it in a film about the cryptocurrency prospects. Rafael Hauxley expects blockchain adherers to allocate funds. The documentary will be dedicated to mining and bitcoin application in various countries.

Bitcoin bug is used to launch Pigeoncoin

An error in bitcoin code was successfully used in a blockchain of one of the least known digital currencies. An inflationary bug serving a gateway to produce the unlimited number of coins regardless of commission has been fixed in bitcoin. However, it continues existing within other related currencies.

Thus, the unknown fraudster managed to create 235 m spare Pigeoncoins with a total cap of $15 000. This sheds light on vulnerability of not only this cryptocurrency but bitcoin. Pigeoncoin trading was suspended for some time, and its developers immediately solved the problem by copying a new bitcoin code. In theory, attacks on other unpopular blockchain-based coins are possible.

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