Blockchain Wallet May Launch $50M Venture Fund

The informed sources say that the fund plans to invest both in startups in tokens directly too
04 September 2019   1281

Blockchain, the largest provider of cryptocurrency wallets, intends to raise $ 50 million for the work of the Blockchain Ventures investment fund. It is reported by Yahoo Finance.

So, the company is allegedly already negotiating areas of work. The fund will invest not only in startups, but also directly in digital tokens, informed sources say. It will be headed by allegedly former Naspers Ventures top manager Samuel Harrison, on whose LinkedIn social network page he is already co-founder of Blockchain.com Ventures.

In addition, it also says that this fund, the existence of which was not previously known, had already invested in Origin Protocol, Coindirect, Sliver.tv and Nodle.

Earlier, Blockchain launched its own bitcoin exchange The PIT, saying that it will become the “fastest” trading platform among existing ones and will allow you to carry out transactions almost instantly.

The company raised totally $70M during 2 financial rounds, which was attended by Google Ventures, Virgin and Lakestar venture fund from Europe.

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   920

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.