Bitcoin Core Vulnerability Threatens Cybersecurity
Date: 2023-12-11 Author: Dima Zakharov Categories: BLOCKCHAIN
Bitcoin Core Vulnerability Unveiled
The US National Vulnerability Database (NVD) has flagged the "inscriptions" created using the Ordinals protocol as a cybersecurity threat to the Bitcoin (BTC) network. BRC-20 tokens, utilizing a vulnerability in Bitcoin Core, surpass established restrictions on additional information size within these "inscriptions." The Ordinals protocol allows them to obfuscate data, masking it as code.
Importance of the Vulnerability
In an official notice, NVD emphasized that the listed vulnerability is crucial for public awareness, currently undergoing analysis. The agency also highlighted that BRC-20 tokens have significantly congested the first cryptocurrency's network, negatively impacting blockchain performance and transaction fees.
BRC-20 Tokens and Their Impact
BRC-20 is an experimental token standard on the BTC network that "inscribes" satoshis, the smallest unit of bitcoin, with JavaScript Object Notation (JSON) data. These tokens emerged amid the crypto community's excitement about the Ordinals protocol, launched in early 2023, enabling the embedding of non-fungible tokens (NFTs) into satoshis.
Network Overload and Transaction Costs
Previous reports indicated a fivefold blockchain overload for the leading cryptocurrency. The average transaction cost surged to $14-$16.
ORDI Token's Response
In response to the news, the ORDI token experienced a modest 3% dip. As of the material's writing, the token is trading at $47.90, according to CoinGecko. The asset's market capitalization surpassed $1 billion in recent weeks, with a 143.6% increase in ORDI's value over the last 14 days.
