Ethereum can launch Casper testnet soon

Ethereum developers are looking to use code for their experimental Casper proof-of-stake protocol as the basis for a new test network
20 November 2017   2574

The developers of Ethereum intend to use the experimental code Proof-Of-Stake protocol Casper as the basis for a new test network. This is reported by CoinDesk.

The founder of Ethereum Vitalik Buterin at the kernel developers' meeting suggested not only to test the protocol code written in Python, but also expressed confidence that Casper could improve the security settings during Ethereum-client testing.

Ropsten is the only test network supporting the participation of all Ethereum clients, but it works on the basis of the Proof-Of-Work algorithm. Due to the weak support of the miners, the network often becomes the target of DDoS attacks. The remaining test sites - Rinkeby and Kovan - use the Proof-Of-Authority protocol to eliminate such threats, but the lack of interoperability is not suitable for many developers.

If we realistically want to roll out Casper in whatever hard fork, then eventually people need to start implementing it. 

Peter Szilagyi

Buterin acknowledged that there were some security gaps with regard to the new protocol, and he suggested that the Ether development be delegated to several developers in the test network, which partially duplicates the consensus of the Proof-Of-Authority.

The participants agreed to conduct a series of studies to assess the potential of the test network. The mission was assigned to the developer Piper Meriam, who will work with the teams of clients Parity, Geth and actually Casper.

Earlier, the test site Ropsten was target of DDoS-attacks on the eve of Byzantium's hardfork, which was successfully held on October 16. The network update was the first step of the Ethereum developers on the way to implementing the Proof-Of-Stake consensus algorithm within the framework of the large-scale Metropolis hardfork.

Societe Generale to Issue ETH DLT Based Bonds

Societe Generale SFH used the OFH security token, based on Ethereum's public blockchain to issue secured bonds for 100 million euros
24 April 2019   90

French banking corporation Societe Generale Group issued bonds in the form of security tokens, using the public Ethereum blockchain.

On Tuesday, the company announced that its division Societe Generale SFH used the OFH token to issue secured bonds worth 100 million euros. According to the investor services of the rating agency Moody’s, Societe Generale turned out to be the “sole investor” of the financial instrument and did not involve any third-party participants in its purchase.

A bond is issued for a five-year term with a 12-month grace period. The security presented by a token gives its holder the same rights as that issued in traditional form.

Moody’s argues that the use of the blockchain can have a positive effect on the rating of a financial institution, in particular due to increased transparency and reduced likelihood of errors resulting from the difficulties and the number of intermediaries involved in the process of issuing secured bonds using traditional means.

PwC auditing company acted as a technology consultant for the project, while French law firm Gide Loyrette Nouel provided legal support.

Earlier this month, Societe Generale-owned private bank Kleinwort Hambros announced the creation of a exchange traded note, intended for investment in the blockchain industry.