China to Ban Crypto Events in Guangzhou’s Economic Zone

Such actions indicate a hostile attitude to the crypto industry by the Chinese authorities
29 August 2018   1128

The Chinese authorities have banned the holding of promotional events dedicated to the cryptoindustry, in the zone of technical and economic development in Guangzhou. This is reported by South China Morning Post.

According to the government, these measures are aimed at "maintaining the security and stability of the financial system of the region." Note that the ban on holding crypto-events in office buildings, hotels and shopping centers was first introduced on August 17 by the Chaoyang authorities in Liaoning Province.

Such actions indicate a hostile attitude to the crypto industry by the Chinese authorities. Last week a number of local media published information that financial regulators intend to block access to 124 foreign crypto exchange sites providing services to residents of the country.

Private corporations also joined the tough cryptocurrency policy. For example, the messenger WeChat, developed by the technological giant Tencent, blocked media accounts related to blocking and cryptocurrencies. Also, the search giant Baidu began to censor and ban similar topics on the platform of Baidu Tieba.

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   976

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.