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Bitcoin Core Developers Reveal Secret Keys

While many secrets revolve around Bitcoin and its nature, one secret has recently been revealed through an e-mail. Bitcoin Core developers, Bryan Bishop and Andrew Chow, announced the existence of secret keys involved in the recently obsolete Bitcoin alert system.


Full Disclosure

 

According to both developers, in the email sent, it was revealed that the reasons behind announcing the existence of the private keys was part of an attempt at reducing any unpredicted events involving the wide-spread attempted attempts at rapid reproduction of the private keys.

 

Andrew Chow has stated that the keys are ineffective due to the full shut down of Bitcoin’s alert system. Following the email and announcement, the community responded accordingly and a sudden spark was formed between members.

 

Social media saw an explosion of comments and reactions to the unveiling of private keys and their relation to the closed system. Most of the uploaded posts and comments revolved around Andrew Bishop following a conference in which he addressed the current situation, explaining weaknesses found within the alert system and the company’s decision to fully shut it down.

Secrets Kept

 

Although initiated in 2016, the company decided on keeping the private keys out of the public eye due to cryptocurrencies operating on older versions of the original coin and how revealing the existence of these keys would provide potential risks to any digital assets still functioning on outdated Bitcoin programming.

 

As SatoshiLabs’ Chief Technology Officer stated, only one coin is currently in danger as a result of fully disclosing the existence of private keys. After analysis through systems were conducted by the CTO, Fargocoin was the only remaining currency to maintain an operational alert system.

 

Both co-founders of Bitcoin Core explained that alert systems are not completely obsolete. According to the information in their e-mail, companies looking to incorporate alert systems similar to that of Bitcoin’s can do so and bypass the known weaknesses and loopholes presenting the current danger to these systems with a few easy changes.

 

Through GitHub, users can download an apply a software update to their systems which provides operational nodes with protection from known causes related to the alert system. As the patch manages to deal with present weaknesses, full disclosure on the existence of these private keys was necessary to handle rising situations which could only be controlled by public knowledge of the private keys. The keys were also publicized due to a select few involved figures that were among the original possessors. As a means of ensuring no false information of misguided attempts at uninformative node interaction, these keys were fully disclosed to the public as part of a continuous effort to keep BTC decentralized.

2 years ago

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