Tokyo to create blockchain startup accelerator

Tokyo, Japan, is organizing a new blockchain-focused startup which is to officially start in January
26 October 2017   1595

The Tokyo Metropolitan Government (TMG) is to hold the "Blockchain Business Camp Tokyo" accelerator program for foreign companies that possess advanced blockchain technology in such areas as transactions, securities, IoT, supply chains and the sharing economy. As reported, the TMG aims at this intensive three-month program to generate groundbreaking innovation.

    In general, the development is a great milestone for Japan as this spring, lawmakers finalized and passed a law recognizing Bitcoin as a kind of payment method, setting the stage for a number of companies in the country to trial accepting it in stores. In addition, last month, regulators issued licenses to 11 Bitcoin exchanges.

    As detailed, the application period for the accelerator will last until November 24. Five companies are expected to join, and those selected will be notified in December ahead of the program's commencement the following month.

    The technologies and services of the foreign companies participating in the program (about five companies) will be advertised for an extended period using digital signage located around Shinjuku and Tokyo stations in the heart of Tokyo, and support will be extended to foreign companies that decide to establish their business in Tokyo.

    Tokyo Metropolitan Government

    The accelerator will last until March, according to statements.

    • October 20, 2017: Begin accepting applications
    • November 24, 2017: Application deadline
    • December 2017: Announcement of companies selected for the program (about five companies)
    • January 2018: Introductory seminar
    • January - March 2018: Blockchain Business Camp Tokyo (mentoring, creating a business plan, networking event(s), connecting with businesses in Tokyo)
    • March 2018: Presentation of business plans (open to the public)

    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.