Korean Telecom Giant KT to Create Its Own Blockchain

The company claims that by the end of the year it expects to reach 10,000 transactions per second thru its blockchain, and in 2019 - 100,000
24 July 2018   1089

One of the two largest telecommunication company in South Korea, KT Corporation has launched its own blockchain, intending to use it in various services, including digital identification, data roaming and energy trading.

According to CoinDesk, the company announced the creation of KT Network Blockchain, reported about a throughput of 2,500 transactions per second, achieved through integration into an existing high-speed commercial network.

The company claims that by the end of the year it expects to reach 10,000 transactions per second, and in 2019 - 100,000.

KT said that after launching its new platform, it intends to use the blockchain to authenticate users' IDs, which may be useful for improving international roaming services. The platform will also allow secure transmission of user data to global partners of KT via a distributed network.

At the first stage of the project, it intends to cooperate with China Mobile and Japanese mobile operator NTT DoCoMo, transferring international data roaming to a distributed network.

The company also expects that KT Network Blockchain will begin to play a role in energy trading in the second half of the year and will be used by corporations wishing to exchange unused energy quotas through a distributed network.

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.