Coinbase Custody Officially Launched

New service is available for institutional and other market participants who can afford to invest in cryptocurrency more than $ 10 million.
03 July 2018   1022

The largest American cryptocurrency company Coinbase began to take funds from a wide range of institutional investors from the US and the EU. This is reported in the company's blog.

Coinbase Custody service is available for institutional and other market participants who can afford to invest in cryptocurrency more than $ 10 million.

According to representatives of the Californian company, the first deposit on the Coinbase Custody platform was made last week. Now the service is available for all market participants.

Also representatives of Coinbase note that at present the company operates crypto assets for a total of $ 20 billion. The company hopes that the Coinbase Custody platform will attract an additional $ 10 billion to the market.

As crypto continues its maturation as an asset class and more institutions enter the space, Coinbase is committed to delivering products and services that are tailored to their unique needs. Coinbase Custody delivers the trusted storage service that our clients need to fully immerse themselves in the potential that crypto assets provide. We look forward to delivering more offerings over the coming months.

Sam McIngvale

Product Lead, Coinbase Custody

By now, cryptocurrency investments through the Coinbase Custody platform are available for customers from the US and the EU. However, by the end of this year the company plans to expand its expansion into the Asian market.

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   1039

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.