Iran to Plan National Crypto as US Sanctions Loom

According to official, the tokenized analog of the Iranian rial will help strengthen the rate of the national currency
26 July 2018   1068

The Department of Science and Technology under the Iranian government plans to develop a national cryptocurrency. CoinDesk reports that the project will be implemented in cooperation with the central bank of the country and will be a response to US sanctions that will take effect next month.

We are trying to prepare the grounds to use a domestic digital currency in the country.

lireza Daliri

Deputy head in charge of investment affairs, The Department of Science and Technology

According to Daliri, the tokenized analog of the Iranian rial will help strengthen the rate of the national currency, stimulate the growth of domestic and external payments, and, in general, help the country circumvent US sanctions.

Also, according to the official, during the next three months the department will be engaged in the integration of blockchain technologies into the infrastructure of the central bank. In this case, the internal crypto currency will be used primarily for settlements with local commercial banks.

Official position of the Iranian government on the cryptocurrency is very strict. So, since May of this year, Iranian users of exchanges and have problems with access.

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   964

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.