Indian Authorities May Legalize Cryptocurrency

It can be possible only with strict government regulation
27 December 2018   719

The government of India is ready to legalize the use of bitcoin and other cryptocurrencies, but only under the strict restrictions of the industry. This is reported by the local New Indian Express.

Formed by the Ministry of Finance of India, the Commission for the study of cryptocurrency is of the opinion that Bitcoin cannot be outlawed. It is expected that the commission will prepare a new report on this issue by February 2019.

Note that in December, during the G20 summit, the heads of the participating countries signed a final declaration, in which they noted the need to regulate cryptocurrency. Since India is a member of the G-20, any measures regarding cryptoindustry will be coordinated with international practices.

In April, the Reserve Bank of India banned controlled entities from providing cryptocurrency-related services to individuals and companies.

In November, after numerous delays, the cryptocurrency commission promised to submit a bill on Bitcoin regulation by the end of the year.

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   1024

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.