Crypto Operations Restrictions May be Lifted in India

Companies affected by the decision of the Indian central bank, intend to challenge it in the Supreme Court on July 20
14 June 2018   1166

The restrictions imposed by the Reserve Bank of India on operations with digital assets can be lifted in the nearest future. This is reported by The Economic Times.

A special government commission opposed the ban on cryptocurrency in the country. In general, the Indian authorities can allow the circulation of the cryptocurrency, but "with some reservation".

As reported, on April 6, RBI through its notice titled ‘Prohibition on dealing in virtual currencies’, mandated banks, e-wallets and payment gateway providers to withdraw support for crypto-currency exchanges and other businesses dealing with virtual currencies (VCs) in India 

Companies affected by the decision of the Indian central bank, intend to challenge it in the Supreme Court on July 20.

Thus, the government group and a number of cryptocurrency companies do not support the decision of the Reserve Bank of India, because they are convinced that it was accepted without any research of the industry. In turn, the representatives of the Central Bank still could not clearly explain why they blocked bank accounts of crypto exchanges.

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   982

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.