Kopalnie Krypto Team - Friday 12 August 2022
Why did Chia Network update the CAT standard?
As some of you may have heard, at the end of July, Chia announced a sudden and unexpected update to the CAT standard. Users were informed about the changes a day before the cutoff of CAT1 and the launch of CAT2. The reason for taking this step was to protect the security of the Chia network.
Initially, the network was quite economical with explanations, but after the changes were made, extensive and detailed clarifications were published. It turned out that an external, specially commissioned security audit revealed a serious flaw in the CAT1 code. The loophole allowed virtually unlimited counterfeiting of tokens. Fortunately, before potential fraudsters could notice it, swift action was taken, and necessary corrective measures were implemented.
Furthermore, in line with the philosophy of ethical white hat hacking, Chia Network engaged in finalizing non-cancelled transactions and minimized the risks associated with the entire operation. Soon, you will be able to read about the whole process of extinguishing the fire on our platform. Stay tuned - it's a good habit, especially in the world of cryptocurrencies!
