South Korea to Double Blockchain Trials Next Year

South Korean government made one step closer to blockchain
05 September 2018   1146

South Korean authorities will allocate twice as much funds to finance blockchain projects in the next year, reports CoinDesk.

Representatives of the Korean Internet and Security Agency(a subdivision of the Ministry of Informatization and Communications) reported plans to significantly increase the number of blockchain projects, most of which are targeted at the public sector.

In the next year, we are considering expanding blockchain pilot projects in the public sector to 12, and plan to support more than three private-led blockchain national project.

Min Kyung-sik

Head of blockchain, KISA

In addition, for such projects, the agency will increase up to 10 billion South Korean won (about $ 9 million) budget for the next year. Also, $ 9 million of the funds of a separate fund will be used, which are planned to be mastered in 2018-2019.

The blockchain projects selected by the Ministry specialize in the management of supply chains in livestock, customs, online voting, real estate, electronic document management and logistics. This year the agency allocated $ 3.76 million for these projects.

The results of the current projects will be known in November. In December, the agency will hold a blockchain hackaton to select ideas for new projects.

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   979

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.