Ethereum might be the second-biggest cryptocurrency, but it still isn’t safe from technical issues like the one that was recently discovered. A serious security issue was spotted, but fortunately, the developers fixed it promptly.
The problem has been fixed, and it is a big achievement for the people behind Ethereum as this could have brought an end to the cryptocurrency if it had been left unsolved. The security problem dubbed the “Eclipse Flaw,” was a serious one, as anyone connected to the internet could manipulate the access of every user in the network.
These “eclipse” attacks prevent users from connecting to legitimate peers. Instead, it bypasses the system and shows the manipulated peers to the users. The attacks could also be used to trick users to pay for goods and services multiple times. The attacks were well-coordinated and were carried out by professionals who had access to sophisticated resources.
Ethereum, just like other cryptocurrencies, runs on a peer-to-peer (P2P) network where users are interconnected with each other through the Blockchain network. Though this is one of the greatest strengths of digital coins, it also happens to be a potential weakness in terms of security.
Luckily, the issue was fixed by the Ethereum team. Various crypto researchers and analysts quickly reported the discovery of the eclipse flaw to Ethereum developers last month. Developers stated that Geth clients, the protocol app of Ethereum, should be updated as soon as possible. The developers acted quickly and have just finished upgrading it to a safer and more secure system — Geth v1.8. The team encourages everyone to use it to prevent similar incidents from happening.
Ensuring the security and safety of using Ethereum is very important as it’s slowly catching up to Bitcoin’s popularity and is expected to further increase in value in the months to come.