Slightly less good news this time around I’m afraid. Our beloved Worldcoin network has suffered a 51% attack! Oh, and a double spend attack too. This would be one of the nails in the coffin for most coins, but not for Worldcoin! The issue was fixed very quickly, the client has been updated, and the Worldcoin value has been going up slowly today.
The double spend attack originated from a MCXNow user called “bazytw”. This user exchanged Worldcoin for Bitcoin on the exchange, and then attempted to attack the block chain, thus allowing his coins to be double spent. In very simple terms, this way, you could make a LOT of money and cause serious damage to a coin’s blockchain.
The behind-the-scenes security protocols on the MCXNow exchange website detected the attack and Worldcoin trading was halted. RealSolid, who does all the C++ coding for MCXNow, and the Worldcoin development team, collaborated to get a fix out to the public asap. These kinds of cooperations can only be applauded.
A blockchain rollback has taken place, rendering the double spent coins useless. This fix has been integrated in the new Worldcoin client. All Worldcoin users, exchanges and pool operators have to upgrade their clients immediately, to avoid any transactions being sent through the wrong blockchain, and never reaching their destination.
These attacks once again highlight the importance of security protocols. Not just for the coin client, but exchanges trading those coins as well. The Worldcoin development team will keep working on integrated client protocols to reduce the risk of 51% attacks. It is only through cooperation from all sides that these attacks will be unsuccessful in the future.
On a financial note, the Worldcoin price has trended upwards over the past 24 hours, and is now sitting between .00014 and .00015, the same price range Worldcoin was at before the Bitcoin price skyrocketed.
Download link for the updated Worldcoin client :
Windows : https://github.com/worldcoinproject/Worldcoin-Clients/blob/master/worldcoin-windows-6.4.6.zip?raw=true
Mac : https://www.dropbox.com/s/svid21i2i3a5oec/Worldcoin-Qt-0.6.4.6-Mac.zip
Linux : Compile the latest client with a new pull request from https://github.com/worldcoinproject/Worldcoin
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