Italian Estate to be presented at Blockchain Auction

Real mansion brokerage which is located in Beverly Hills, Hilton&Hyland started  cooperation with blockchain startup Propy to auction a house built in 1580-1616
28 May 2018   1014

As the source reported, the Palazzetto inside the Palazzo Albertoni Spinola is appriciated to be a Unesco heritage area. The architect Giacomo Della Porta constructed it in the early 1600s. The property is presently valued at $42 million. Because of the partnership with Propy now interested parties not only can ask the cost on the property in fiat currencies but also in cryptocurrencies. The bids are to be received until June 28, as claimed by Propy CEO, Natalia Karayaneva.

Karayaneva affirmed that the auction is offered to be a unique possibility to record the sale of a historic construction on a blockchain technology. Real property applications of blockchan were aware to be still in early stages.

It is not a transfer test of a couple dollars-worth of value, or questionable digital collectibles - but a multi-million dollar deal where lack of transparency can result in a significantly worse deal for the investor or seller. 
Natalia Karayaneva,
CEO, Propy

The CEO also declared that she hopes to see more real estate deals based on blockchain in the future. Karayaneva pointed out the significance of the security and the reputation behind the technology that can convince buyers about not risking their funds. 

The process of buying real estate today is non-transparent and non-secure even in the U.S. The bidding mechanism of providing offers blindly is very manipulative. This is why it is important to not only automate payment and title deed recordings, but also to automate the auction and offering mechanisms.
Natalia Karayaneva,
CEO, Propy

Blockchain technology provides the opportunity to make the process of purchasing buildings more operative. As the property transactions are automated, the appropriate fees are decreased; and so the homeowners can prove their property rights.

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   974

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.