The world’s first 1GB block mined

The world's first 1.0001GB block has been mined on the Bitcoin Unlimited test network
17 October 2017   2525

Bitcoin Unlimited chief scientist, Peter Rizun, reveales that the first 1.0001GB block was mined on a Gigablock testnet. It goes without saying, that the event marks a significant milestone for the big block project backed by the University of British Colombia, Nchain, and the Bitcoin Unlimited development team.

Thus, the current initiative puts scalability to the test by experimenting with much larger blocks to improve blockchain transaction congestion. For instance, both BU and Nchain have been testing larger blocks already in two separate projects: Nchain has been testing 32MB blocks, while BU’s “nolnet” network built by Andrew Stone has experimented with 64MB blocks.      

The development teams believes that increasing the block size limit from 1MB to much larger blocks will significantly reduce high fees and transaction bottleneck. The Gigablock testnet project has very ambitious goals as it aims to create a network that can handle Visa-level transaction throughput (3,000 TPS).

Noteworthy, after testing the Gigablock trial’s findings will be published within the Bitcoin community, the technology may be applied to the Bitcoin Cash network in the future.

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   142

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.