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Monday, April 17, 2017

How Greg Maxwell Exploited Bitcoin Unlimited in Every Way Possible

How Greg Maxwell Exploited Bitcoin Unlimited in Every Way Possible

Segregated Witness (SegWit) support has been on the rise ever since the disclosure of the covert usage of AsicBoost by Bitcoin Core developer Greg Maxwell.

On April 5, Maxwell sent out a letter entitled “Inhibiting a covert attack on the Bitcoin POW function” to the Bitcoin development mailing list. In it, Maxwell explained the possibility of utilizing a method called AsicBoost to exploit a flaw in the Proof of Work function of Bitcoin.

Maxwell wrote:

“There are two major ways of exploiting the underlying vulnerability: One obvious way which is highly detectable and is not in use on the network today and a covert way which has significant interaction and potential interference with the Bitcoin protocol. The covert mechanism is not easily detected except through its interference with the protocol. In particular, the protocol interactions of the covert method can block the implementation of virtuous improvements such as segregated witness.”

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