A recent statement from Bitcoin core developer Luke Dashjr has cast uncertainty over the future of BRC-20 and Ordinals, indicating their potential removal due to a vulnerability in Bitcoin Core software.
Dashjr highlighted that “Inscriptions” exploit this flaw to spam the blockchain, causing network congestion. If the vulnerability is addressed in time for the release of version v27 early next year, Ordinals and BRC-20 could face removal.
PSA: “Inscriptions” are exploiting a vulnerability in #Bitcoin Core to spam the blockchain. Bitcoin Core has, since 2013, allowed users to set a limit on the size of extra data in transactions they relay or mine (`-datacarriersize`). By obfuscating their data as program code,…
— Luke Dashjr (@LukeDashjr) December 6, 2023
In a public service announcement on Wednesday, Dashjr explained that “Inscriptions” leverage a flaw in Bitcoin Core, allowing them to broadcast spam to the blockchain by obfuscating their data as program code. The Bitcoin Core vulnerability, addressed in Bitcoin Knots v25.1, is still present in the upcoming v26 release. Dashjr expressed hope for a resolution before the v27 release next year.
The announcement triggered a decline in $ORDI of over 15%. Lookonchain reported that an investor may have swiftly responded to Dashjr’s tweet, selling off 59,000 $ORDI ($3.54 million) before the price drop, resulting in gains exceeding $2.3 million.
This guy may have seen Bitcoin Core developer Luke Dashjr's tweet and dumped all 59K $ORDI($3.54M) before $ORDI dropped, making more than $2.3M.
This guy withdrew 65,263 $ORDI($1.3M) from #Binance on Nov 22 when the price was $20.https://t.co/MSDfzTM7Jf pic.twitter.com/TAYYAWdcC3
— Lookonchain (@lookonchain) December 6, 2023
As Bitcoin Core developers work to resolve the vulnerability, the pending release of v26 remains a concern for network congestion. The market reaction to Dashjr’s statement underscores the impact of developer insights on cryptocurrency prices, with investors closely monitoring potential changes to core protocols. The situation emphasizes the interconnected nature of various blockchain projects and their susceptibility to vulnerabilities discovered within foundational technologies like Bitcoin Core.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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