First Realtor's Deal Using Blockchain Concluded in UK

Four-room house in Oldham was first in United Kingdom to be sold using distributed ledger technology
19 March 2018   572

In Oldham, in the county of Manchester, a first house purchase deal was concluded using the blockchain technology. It is the first deal of this kind in UK. This is reported by Buy Associattion.

Manchester Group HS Property Group used the Clicktopurchase platform to sell a four-room house in Oldham.

As a company which prides itself on innovation, we want to offer our global investor network a more straightforward and secure method to purchase residential investments without compromising any legal safeguards.

Guy Horne
Director and co-founder, HS Property Group

All stages of the transaction, including supply, acceptance and exchange of contracts, were recorded using the blockchain.

Some of the biggest problems the property industry faces is the length of time it takes to exchange contracts along with the lack of certainty. Real estate transactions can be complex but by using clicktopurchase the process is significantly quicker.
 

Neil Singer 

CEO, clicktopurchase

The only yet not digitized stage is the registration of the purchase manually in the Land Register.

Ethereum VM May Have Vulnerability

The vulnerability is reported by NettaLab Twitter account
12 November 2018   65

On November 9, a statement appeared in Netta Lab’s Twitter account that the organization discovered a vulnerability in the Ethereum virtual machine that allows to execute smart contracts endlessly without paying for gas online. The researchers also allegedly turned to the operator of the American database of vulnerabilities, where they registered the corresponding discovery.

Netta Labs discovered an Ethereum EVM vulnerability, which could be exploited by hackers. The vulnerability can cause smart contracts can be executed indefinitely without gas being paied.
 

Netta Lab's Twitter

At Netta Lab's request, Google demonstrates the site of the netto.io project, which specializes in auditing smart contracts under the Netta Lab brand, but the Twitter accounts of the projects do not match. Note that the profile that reported the vulnerability was registered in November.

Many users expressed doubts about the authenticity of the information that appeared, but then the creator of the NEO project Da Hongwei said that he spoke with the CEO of Netta Labs and asked the researchers to audit the NEO virtual machine.

Nevertheless, Vitalik Buterin wrote on Reddit that this is a vulnerability in the Python-implementation of the virtual machine, which was first reported on GitHub 9 days ago. This means that the main clients (go-ethereum; parity and cpp-ethereum) are not affected.