OKEx and Huobi-Pro P2P trade launch

While Huobi issues a farewell to Bitcoin industry, rumors about p2p Bitcoin trading with support for fiat currencies (and the yuan) are spreading confidently
30 October 2017   3049

Chinese Bitcoin exchange Huobi issues a farewell to the industry as its shut down is planned for this Tuesday.

According to the exchange, Huobi China will "exercise full cessation of all digital assets against the yuan's trading business from 24:00, GMT+8" on October 31. Leon Li, the Founder of Huobi, claims that it would reimagine itself as an “integrated information and research service provider in the vertical field of Blockchain” dedicated to the Chinese market.

I believe that this is not only a milestone for Huobi but also a watershed in the history of Chinese digital assets and even a memorable day in the development of global digital assets.
 

Leon Li
Founder of Huobi

Still, there's a glimmer of hope.

According to local news feed on Twitter, the two umbrella exchanges, OKEx and Huobi-Pro, are “soon to launch” p2p Bitcoin trading with support for fiat currencies including the yuan.

While both OKEx and Huobi-Pro are international non-China based operations not subject to the domestic ban, the source speculates that through undisclosed mechanisms both could ultimately give access to Chinese traders.

In fact, OKEx itself somehow implies that "a New Era" is coming while announcing its future plans after the October 31 shutdown deadline.

We have nothing more to do but to wait, while the Chinese market situation is becoming more and more interesting. We'll keep you updated! 

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   965

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.