Twitter to Study Blockchain to Counter Fraud

Let's see what Jack Dorsey told about fraud countering at the hearings in Congress
06 September 2018   1238

Head of Twitter and payment start-up Square Jack Dorsey at the hearings in Congress on Wednesday, September 5, said his company is exploring the possibilities of using blockchain technology to fight fraudsters. This is reported by CoinDesk.

You previously expressed interest in the broad applications of blockchain technology, including potentially in an effort to verify identity to fight misinformation and scams. What potential applications do you see for blockchain?
 

Doris Matsui
California Representative

Mister Dorsey noted that the blockchain is great for establishing trusted relationships in the digital world. This is especially important in the light of cryptoscam related accounts.

First and foremost we need to start with the problems that we're trying to solve and the problems we're solving for our customers and look at all available technology in order to understand if it could help us accelerate or make those outcomes much better. Blockchain is one that I think has a lot of untapped potential, specifically around distributed trust and distributed enforcement potentially. We haven't gone as deep as we'd like just yet in understanding how we might apply this technology to the problems we're facing at Twitter, but we do have people within the company thinking about it today.
 

Jack Dorsey

Head, Twitter

Earlier Mr. Dorsey stated that the Internet needs its own native cryptocurrency, which may turn out to be bitcoin. 

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   1018

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.