Thailand to Issue Central Bank Digital Currency

Solution called 'Project Inthanon' will be based on the Corda blockchain technology
23 August 2018   1000

The Bank of Thailand (BoT) announced the launch of Project Inthanon, an initiative aimed at creating its own digital currency, CCN reports.

According to the report BoT, the financial regulator of this Asian country has joined forces with 8 partner banks and proceeds to create prototype solutions, which will be based on a Corda Technologies blockchain, created by a consortium of R3.

The project envisages the creation of tokens, through which money transfers across the country can be carried out using the interbank system.

Representatives of BoT noted that similar initiatives are also being implemented by the central banks of Canada, Hong Kong and Singapore.

Earlier this week, the head of the Bank of Thailand, Viratay Santiprabhob noted that crypto can not be directly associated with fraudulent projects.

Also this month, representatives of the BoT said that the country's financial institutions can buy and sell cryptocurrency after obtaining permission from the local Commission on the Securities and Exchange Commission (SEC).

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   1011

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.