Reserve Bank of India to Study Blockchain

As reported, by September the Supreme Court of India will issue a set of bills regulating the cryptocurrency industry
27 August 2018   1764

The Reserve Bank of India (RBI) has formed a unit to study new technologies, including blockchain, cryptocurrency and artificial intelligence. This is reported by The Economic Times with reference to a source familiar with the plans of the regulator.

As the newspaper notes,  the newly created group will probably be engaged in developing technology-related bills and will monitor the introduction of innovations in the country in the future. Official commentsfrom RBI have not yet been received.

By September the Supreme Court of India will issue a set of bills regulating the cryptocurrency industry. An official from the Ministry of Finance said that future regulations will not include a direct ban on crypto-currencies.

Despite the uncertainty of the cryptocurrency regulation in India, in July the Huobi exchange announced the launch of the P2P platform for trading digital assets in a pair with the rupee.

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   1026

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.