UpRevBreak

A few lessons from yesterday’s Litecoin reorg, and what actually happened: 👇 • The AI era is here and it’s of utmost importance for all protocols to review existing code ASAP. AI is enhancing the ability to exploit code vulnerabilities and the time to act is now. • The LTC dev team identified the vulnerability weeks ago and the overwhelming majority of nodes had already upgraded. But, even a small amount of outdated nodes can create the opportunity for this kind of re-org to occur. It’s essential for node operators to stay updated. • It’s important for exchanges/DEXes/builders to have tight communication channels with crypto dev teams in case an issue arises that would require quick action. Also, for the sake of staying updated. • The Litecoin dev team was quick to act and the chain did what it was supposed to do: not accept invalid transactions. Given the size of exploits that tend to occur in crypto, this was relatively small and handled quickly. • Re-orgs are normal in PoW chains. When they occur, it doesn’t mean the chain “failed”, they’re actually part of the design. Every PoW chain experiences re-orgs. The main issue here wasn’t the re-org itself, but the zero-day bug that affected mining pools. This wasn’t a 51% attack as initially stated. • Litecoin never went down. The network continued operating throughout and accepted valid transactions. LTC continues functioning exactly as intended with 100% uptime. • Never trust everything you read, especially when news is fresh. Multiple news agencies and crypto influencers were quick to express their opinions on the matter when the initial information that was put out was inaccurate. Wait until the post-mortem is published to not to expose yourself as an opportunist on a given matter. Thank you.