BitMEX Research Arm Discovers A Potential Bug in Its Ethereum Parity Full Node

Ethereum Frozen

Ethereum (ETH) is the largest altcoin in the crypto market. The blockchain project is also the largest when it comes to creating and deploying decentralized applications. Ethereum has a lot of fans and bullish supporters. The Dapp platform has a lot of developers on its network. Many analysts also believe in the digital currency, as they continue to give Ethereum price predictions 2019.

However, the recent price action of Ethereum is not really great. This has led many to ask the question ‘will Ethereum recover again?’ Ethereum has a lot going on around it lately. Ethereum Constantinople is now live, there are bullish Ethereum price predictions for 2019, and there is the SEC Ethereum hearing. All of these might contribute to the massive recovery of the digital currency in the short-term.

BitMEX Research Finds a Potential Bug in Ethereum Parity Full Node

The research arm of BitMEX recently discovered a potential bug in its Ethereum Parity full node. BitMEX is one of the top digital currency trading platforms in the world. The exchange revealed its discovery on the 13th of March via a blog post. The research team discovered the potential bug when analyzing data from the new research website of BitMEX –

The trading platform also announced the launch of Nodestats in the same blog post. BitMEX partnered with TokenAnalyst to create Nodestats. The platform was created to collect vital metrics from Ethereum nodes. It shows fundamental data for Ethereum Geth and Ethereum Parity clients. After which, it compares requirements related to memory, storage space, bandwidth, and CPU usage.

According to BitMEX, Ethereum Geth and Ethereum Parity are the largest Ethereum node client implementations. They started gathering data from the Ethereum Parity full node on the 1st of March. As at 12th of March, the node has not finished syncing with the blockchain of Ethereum.

Ethereum Parity Full Node Slow Synchronization

According to the research reports, the client was about 450,000 blocks behind. It is expected to meet up with the main chain in a couple of days, based on its present trajectory. Nevertheless, the researchers said the slow sync does not pose any issue for the network at the moment.

A snippet of the blog post reads:

While the slow initial synchronization is a potential issue, Ethereum has not gotten to a point where the node can’t catch up. This is because the sync rate is faster than the rate at which the blockchain grows.”

Nevertheless, the research team of BitMEX further discovered a potential bug in the client. The team reported that Parity node sometimes reports that it is synchronizing. But it will be hundreds of thousands of blocks behind the chain tip. The team said that attackers might exploit the potential bug in some ways. But they said it is ‘highly unlikely’ to happen.

At the moment, Nodestats is linked to five different Ethereum nodes. It syncs with those nodes and collects data every five seconds. Nodestats was created to achieve a common goal. The goal is to deliver metrics related to the computational resources that every Ethereum node needs.

Ethereum (ETH) Price Today – ETH / USD

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At the press time, ETH live price is $134 after a decrease of less than one percent over the past twenty-four hours. Ethereum (ETH) currently has a market cap of $13.83 billion. The trading volume of the digital currency over the past twenty-four hours is $3.80 billion.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.


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