Major Security Flaws Threaten Deployment of EOS Mainnet

By RICHARD MALONE An Introduction to EOS EOS is a blockchain platform for the development of decentralized applications (dapps),  similar to Ethereum in function. It makes dapp development easy by providing an  operating-system-like set of services and functions that dapps can make use of. The idea behind EOS is to bring together the best features and promises of the various  smart contract technologies out there (e.g. security of Bitcoin, computing support of  Ethereum) in one simple to use, massively scalable dapp platform for the everyday user  to empower the impending blockchain economy. The EOS vision is to build a blockchain dapp platform that can securely and smoothly  scale to thousands of transactions per second, all while providing an accessible experience to app developers, entrepreneurs, and users. They aim to provide a complete  operating system for decentralized applications focused on the web by providing  services like user authentication, cloud storage, and server hosting. Now with just  days before the anticipated release of the EOS mainnet, major security  flaws are threatening the hype around the widely-hailed smart contract platform. Chinese cybersecurity firm Qihoo360 released a report this morning outlining their  discovery of “epic vulnerabilities” in the EOS code base. These vulnerabilities would  enable bad actors to create and distribute malicious smart contracts to the entire EOS  network. The severity of the security flaw cannot be understated, as a quote from a blog post by the company reads: “The attacker can steal the private key of super nodes or control content of new blocks. What’s more, attackers can pack the malicious contract into a new block and publish it.  As a result, all the full nodes in the entire network will be controlled by the attacker.” If this statement is accurate, nodes of wallets and exchanges would be susceptible to  manipulation and theft. Now the question is: will today’s news force EOS to delay the deployment of its mainnet? Although EOS hasn’t released an official statement on the matter, it seems the company  is taking swift action to correct the issue. A published correspondence in Qihoo360’s blog post between EOS lead developer Daniel Larimer and the Chinese agency indicates that  the problem has been resolved. However, Larimer announced a bounty program on  Twitter that awards $10,000 to any party successful in finding more vulnerabilities. Although the bounty program is proactive in its attempt to resolve potential future  issues, it also epitomizes the troubling nature of the findings. EOS is the fifth-largest cryptocurrency in the world and it intends to compete with Ethereum as the  dominant decentralized application (DApp) platform in the space. With the launch only  days away, it is natural that concerns about the security and efficacy of the platform  would arise. Perhaps in response to the unsavory news, EOS is the noticeable laggard in an otherwise green market. The price of EOS dipped to an inter-day low of $10.93 before ultimately recovering to roughly $12 at the time of this writing with $1.9 billion in 24/hr trading volume. You can stay up-to-date on the evolving situation here This article first appeared on http://www.coincentral.com

Nigeria 2-0 Iceland: What went down!

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Senegal beats Poland 2-1, 1st African win at World Cup

Senegal became the first African team to win at this year’s World Cup, defeating Poland 2-1 Tuesday on a first-half own-goal and a controversial second-half strike by Mbaye Niang. Senegal, back in the tournament for the first time since 2002, went ahead in the 37th minute when Thiago Cionek’s attempted block of Idrissa Gueye’s shot…