Australian Company to Issues Crypto Backed Loans

In case of default, financial company named Helio may sell cryptocurrency to cover losses
10 December 2018   730

Helio from Melbourne began issuing loans secured by cryptocurrencies, Bitcoin.com reports.

The service allows Helio clients to borrow from 1000 Australian dollars ($ 720) on the security of cryptocurrency assets. At the moment, the company accepts Bitcoin, Ether, Litecoin and Ripple.

Helio client crypto assets are stored in a secure wallet, company representatives say. In case of default, the company may sell cryptocurrency to cover losses.

Helio has a credit license (ACL) issued by the Australian Securities and Investments Commission (ASIC). As stated by the company's founder, John O’Shy, Helio was the first licensed organization in Australia to launch this service. According to him, the country has a developed cryptocurrency market, however, suppliers who want to provide loans secured by digital assets are not enough.

In June, the Japanese corporation Abic Corporation began to issue loans secured with Bitcoin

Potentional Vulnerabilities Found in ETH 2.0

Least Authority have found potentional security issues in the network P2P interaction and block proposal system
26 March 2020   1026

Technology security firm Least Authority, at the request of the Ethereum Foundation, conducted an audit of the Ethereum 2.0 specifications and identified several potential vulnerabilities at once.

Least Authority said that developers need to solve problems with vulnerabilities in the network layer of peer-to-peer (P2P) interaction, as well as in the block proposal system. At the same time, the auditor noted that the specifications are "very well thought out and competent."

However, at the moment there is no large ecosystem based on PoS and using sharding in the world, so it is impossible to accurately assess the prospects for system stability.
Also, information security experts emphasized that the specifications did not pay enough attention to the description of the P2P network level and the system of records about Ethereum nodes. Vulnerability risks are also observed in the block proposal system and the messaging system between nodes.

Experts said that in the blockchains running on PoS, the choice of a new block is simple and no one can predict who will get the new block. In PoS systems, it is the block proposal system that decides whose block will fall into the blockchain, and this leads to the risk of data leakage. To solve the problem, auditors suggested using the mechanism of "Single Secret Leader Election" (SSLE).

As for the peer-to-peer exchange system, there is a danger of spam. There is no centralized node in the system that would evaluate the actions of other nodes, so a “malicious" node can spam the entire network with various messages without any special punishment. The solution to this problem may be to use special protocols for exchanging messages between nodes.