Marathon Digital Shares’ Plummets by 2% After Mining an Invalid Bitcoin Block
Marathon Digital, a leading crypto mining company in Las Vegas, has mined an invalid Bitcoin block in an experiment. The report was shared by developers and researchers involved in an extensive experiment to optimize the Marathon operations.
In a September 27 X post, the Marathon team outlined the conditions for conducting the completed experiment. The team behind the experiment confirmed using a small percentage of Marathon’s hash rate to conduct the study.
Marathon Digital Mines Invalid Block
The developer ascertained that the percentage of the hash rate used has minimal impact on the network’s performance. In the report, the Marathon team underscored that the experiment had no harm to the Bitcoin Core.
Primarily, the experiment aimed to assess the performance of Marathon’s development pool and analyze practical research approaches that could enhance Bitcoin mining activities. Despite meeting the mining requirements, the Marathon team experienced an invalid block that disrupted the minting of new Bitcoin.
After assessing the cause and nature of the invalid block, the developers stated that the error was rooted in the internal development environment. In the report, the developers denied claims that the bug emanated from Bitcoin Core or the production pool.
The report indicated that the incident occurred on block 809478. The September 27 incident was brought to light by a prominent Bitcoin developer, “0xB10C,” on the X account, confirming the transaction ordering concern witnessed on the MaraPool.
MARA Shares Declines
The report indicates that an invalid block acts against the Bitcoin consensus rules. The Marathon team claimed it was the first time to experience an invalid block since 2010 when the mining facility was established. The developers described the error as an anomaly on the network. The report shows that the Bitcoin network operated just as it was designed to function during the experiment.
News concerning the invalid block has grabbed the attention of developers, researchers, and businesses. A report shared by BitMEX, a Seychelles-based crypto exchange, linked the invalid block with transaction ordering issues.
Elsewhere, Dylan LeClair, the renowned Bitcoin analyst, argued that during the experiment, the Marathon team should have conducted the experiment on the testnet. The analyst suggested that after the testnet experiment, the developers should move the trial to the Bitcoin mainnet.
The community acted skeptical concerning the invalid block on the X platform. In an X post, some users question the security capability of the Bitcoin network.
Commenting on this, the Marathon team stated that the Bitcoin network excluded invalid blocks during the experiment. The developers claimed that rejecting invalid blocks demonstrated the Bitcoin network’s robust security.
In the report, the developers stated that immediately after the revelation of the invalid block, the Marathon team took strategic action to fix the bug.
Report concerning the invalid block forced the Marathon shares listed on the Nasdaq under the MARA ticker symbol to establish a bearish market structure. According to Google Finance, MARA shares slumped by 2.19% to reach $ $8.01 within the last 24 hours.
Editorial credit: T. Schneider / Shutterstock.com
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