As of January 3, 2009, the Bitcoin network is operational 99.98662952015% of the time. The protocol had some problems, however, and on a few occasions the chain split in two. Most people are aware of the Bitcoin Cash split, which took place on August 1, 2017, but the first time the Bitcoin chain split took place 11 years ago on August 15, 2010.
Strange Block 74,638
4,019 days ago, on August 15, 2010, the Bitcoin community had a problem called “Overflow error. “Also called” malicious event “or”Strange Block 74,638,“Occurred between” 11:34:43 CDT and 12:10:33 CDT on August 15th, “according to the bitcointalk.org user named”Mizerydearia. “Lots of well-known developers like Jeff Garzik, Gavin Andresen, and the inventor of Bitcoin Satoshi Nakamoto participated in the processing of the problem.
Other participants involved in the discussion of the overflow bug incident included people such as “NewLibertyStandard” and “Siemos“as well as. The” Output-Value-Overflow-Bug “was a critical problem as it produced 184.4 billion Bitcoin (BTC). The event was not discovered until about 1.5 hours after it occurred, and the patch was finally delivered by Satoshi Nakamoto four hours later. The brunt of the entire ordeal took about five hours, but Satoshi didn’t officially publish the codebase until the next day.
Before the client fix Bitcoin 0.3.10 was published by Nakamoto, there had been a blockchain split. 51 blocks were generated on the chain that split until the “good” chain finally recaptured the Proof-of-Work (PoW) victory. The consensus for this event was driven by the concerns of the developers about the severity of the problem, the miners of the network, and the patch released by Satoshi Nakamoto.
The community believes that a malicious unknown company caused the overflow bug which started at block height 74,638. At this point, two addresses received 92.2 billion BTC with a 0.5 BTC input that has never been issued. We know that roughly 51 blocks that were mined and validated by miners have been restored to their original state prior to the 184 billion BTC overflow error. This means that after the community was updated, the Bitcoin chain has undergone a blockchain reorganization or reorganization Bitcoin 0.3.10.
Stucking at Block Height 170.060, and the controversial Reorg of March 2013
Bitcoin had other critical flaws and problems during the network’s 13 year and seven month life cycle. On April 1, 2012, Bitcoin participants got stuck BTC block height 170.060 and after the fix, 45% of bitcoin miners occasionally produced invalid blocks for a few months. The second chain split of Bitcoin, in which around 24 blocks were validated and then made invalid, was switched on 11th March 2013.
This particular problem was a bit more complex controversial than the split of 2010 because developers coordinated get a large mining pool (Btc Guild) to roll back the chain to previous software after an accidental fork. There was also a successful one output twice during the rollback incident in March 2013.
BTC experienced another chain split on July 4, 2015, when the split led six blocks forward until the “good” PoW took over. The problem in 2015 came from the Bitcoin Improvement Proposal GDP66 (Soft Fork) designed to “make changes to the validation rules for Bitcoin transactions to restrict signatures to strict DER encoding”.
Probably the most memorable chain split that has occurred in the BTC chain took place on August 1, 2017. On this day, the BTC community initiated a “Flag Day Soft Fork” to enforce the BIP148 rules (Segwit). In addition, the Bitcoin Cash blockchain has split off as the Viabtc mining pool mined the first block BCH Block (no 478,559). Viabtc also left a message in the block’s Coinbase parameter that read, “Welcome to the world Shuya Yang!”
People often forget about old chain splits and the controversy surrounding them
Over the years, the 2010, 2013, and 2015 chain splits were largely forgotten by crypto enthusiasts, and many people weren’t involved at the time either. There have been many arguments regarding this over the years Immutability of the blockchain. It is probably not the best term to use to capitalize on the strength of the Bitcoin network as there have been a few Blockchain reorganizations and hiccups on the way from BTC. Reorgs are likely to continue to be a controversial topic because it’s like going back in time and clearing the ledger history, besides the fact that executive hashpower is sometimes needed (March 11, 2013) to enforce the rules.
While Ethereum crypto enthusiasts made fun of the DAO rollback incident, Vitalik was Buterin Criticism of the change which also took place on March 11, 2013. The Ethereum co-founder pointed out that the reason developers got away with the solution is because of the huge amount of hash power of the Btc Guild mining pool.
“The controlled change to the 0.7 fork was even possible because over 70% of the hash power of the Bitcoin network was controlled by a small number of mining pools and ASIC miners, and so the miners could all be contacted individually and convinced immediately downgrade ”, wrote Buterin at the time.
What do you think of the Bitcoin First Chain Split? Let us know what you think on this matter in the comments below.
Photo credits: Shutterstock, Pixabay, Wiki Commons, Bitcointalk.org,
Disclaimer of liability: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement for any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author are directly or indirectly responsible for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.