Swiss Company to Release $100K Crypto Wallet Watch

The cost can reach $150K depending on the material used
14 January 2019   624

The Swiss manufacturer of luxury watches A. Favre & Fils, whose history dates back to the first half of the 18th century, is developing a new model of mechanical watches with a built-in crypto wallet. This is reported by Coindesk.

Last week, the company announced that the watch will be equipped with a cryptocurrency “cold wallet” and an “advanced security mechanism” based on blockchain technology.

We have developed this first timepiece with the idea of offering something useful for the crypto-community, not simply something to spend their money on. You have to keep adding relevant features that advance the design. It’s a bit like figuring out the future of steam engines in the age of electric trains. 
 

Laurent Favre

CEO, A. Favre & Fils

The cost of watch will range from $ 100,000 to $ 150,000, depending on the material used. The company "guarantees total data and privacy protection" and intends to present the first prototype of the new model in the second quarter of 2019.

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.