Malta authorities propose rules for blockchain gaming

Malta Gaming Authority has presented a list of recommended guidelines for the blockchain gaming operators, plans to open test environment for optimization
30 March 2018   502

Blockchain has been rapidly invading all the aspects of our everyday live and gaming companies haven't been left outside of the trend. Now the companies would have to contend with the new, as of now, “proposed guidelines” to make their games with distributed ledger technology available in Malta.

Right now the regulations presented by Malta Gaming Authority are just a series of recommended guidelines for the game developers to follow. The authorities are open for feedback regarding their new proposals and they established “sandbox” environment for testing out the impact of new regulations on the industry. Ultimately, this sandbox will become not only a testing stage but the foundation for the new set of regulations for the Malta's remote gaming ecosystem.

Right now, the proposed rules for utilizing the blockchain for gaming is quite lax. The developers have to satisfy the specific range of conditions for them to be receiving cryptocurrency. In particular, they would have to provide the certain financial and technological value in return for the said funds and the services or goods they provide in return have to be freely tradeable on exchanges with “competitive market capitalization”. Also, the cryptocurrency must be integral to the company's use case.

As part of the current “sandbox mode” all the games hosted should “maintain the transparency and prove the fairness of these games” through utilizing accessible distributed ledger.

The proposed guidelines cover this and other points, including the risks involved in usage of cryptocurrencies or custom tokens as a funding method.

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.