Michigan Bill May Make It Illegal to Fake Blockchain Data

This is the first attempt by the state of Michigan authorities to introduce regulations on the cryptoindustry
14 June 2018   838

The state of Michigan is considering two draft laws that classify changes in the data in the blockchain as a crime. This is reported by CoinDesk.

As reported, first of two bills presented earlier this month by state representative Curt WanderWall tweaks the state's penal code pertaining to those who "makes, alters, forges or counterfeits a public record." Under the proposed legislation, this would be extended to "a person that accomplishes a violation...by altering a record made utilizing distributed ledger technology."

The second document includes changes to the current criminal code of Michigan. In particular, lawmakers suggest defining the terms "cryptocurrency" and "distributed ledger technology".

Both bills have already been submitted to the US Justice and Justice Committee.

Note, this is the first attempt by the state of Michigan authorities to introduce regulations on the cryptoindustry. In 2015, the management of the Michigan Department of the Treasury issued a paper, which explained that the purchase of a cryptocurrency is not taxed.

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   982

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.