Bytecoin introduces public testnet

Private cryptocurrency project, Bytecoin is going to release its public testnet on July 10 as 3rd and 4th quarters of 2018 promise to be the platform launch dates
19 May 2018   1802

Bytecoin along with its Bytecoin network will become available for users to test them out via the public testnet. The release is scheduled for July 10. The development team states that 'big plans' are kept for the 3rd and 4th quarters of 2018.

After the release of the stable API, it seems the progress was stalled for a bit: according to the blog post, the hard fork procedure is delayed as Bytecoin Network suffered from severe lags on May 8–10 and the dev team is trying to make the hard fork more secure and stable. With the public testnet, the Bytecoin community will be able to see the real life operation of the 'hard-forked' platform. Moreover, P2P protocol won't have to undergo any additional update process once the hard fork is complete.

It’s very important for us to know your thoughts and ideas about the new releases as that will be act as a direct bridge between the community and the development team.


Yours truly, Jenny and the Dev Team

Excerpt from Bytecoin Roadmap announcement

Regarding the market parameters of Bytecoin at the moment of publication, they are as follows:

Average price USD 0.009004
Market cap USD 1,655,663,465
Volume (24H) USD 18,687,800

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   1018

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.