Connect with us

Blogs

Fujitsu Develops New Technology that Identifies Ethereum Smart Contract Bugs

Published

on

Fujitsu

On 7th March 2018, Fujitsu revealed in its Press Release section that its research and development center has come up with algorithms that will detect bug infected transaction sequences on the Ethereum blockchain.

Smart contracts are basically computer codes that can be used as a platform for exchanging shares, money, property etc. The platform of Ethereum smart contracts can also be used to build various apps. The codes and algorithm of smart contracts are supported on a decentralized open source network. The transaction process through a smart contract requires the sender to “drop” a crypto coin into the decentralized ledger. Smart contracts are described by the white paper of Ethereum as autonomous agents.

How Can Bugs Affect Ethereum Smart Contracts

The Ethereum platform allows the developers to build their own smart contracts. The smart contracts can be copied to more than one location and are then run in a distributed way. It is difficult to stop a contract after its execution. Moreover, the contract cannot be revised even when it has been infected by bugs. As Fujitsu says in the press release, in one such incident a flaw had caused havoc in a transaction of a considerable sum.

The Ethereum smart contract risks can be categorized into six groups and the technologies prior to the one developed by Fujitsu Laboratories and Fujitsu Research and Development Center failed to detect all these types of risks in advance.

  1. Reentrancy
  2. Authentication of the source of the transaction call
  3. Call stack restrictions
  4. Divide by zero
  5. Transaction order dependency
  6. Transaction uncertainty due to reliance on the timestamp

(Source: Fujitsu website)

Details Regarding the Technology Developed by Fujitsu

The major break made by Fujitsu is that the technology can pinpoint the pertinent addresses in the source code. The screenshot below shows how the newly developed technology will detect the risks.

  • Use of symbolic execution technology: The bugs in the source code may have the capability to abuse the language specifications of Ethereum that will help in creating a fake origin of the transaction call. The solution developed will detect these risks by using symbolic execution technology. It will virtually perform the transactions under different situations and as per the source code that is based on the order of improper processing. The proposed technology, according to the researchers, promises to be an accurate method of detecting the risks of the Ethereum smart contracts.
  • Spotting on the affected area of the source code: The technology developed by Fujitsu Laboratory and Fujitsu Research and Development Center to recognize the part of the source code that will be affected by the newly discovered risk. Symbolic execution is possible because the newly developed technology scrubs out idle commands from a debugging execution file, affixed with source-code data that corresponds with the Ethereum execution files. This facilitates the technology developed by Fujitsu to spot out the source code locations that concur with the risks detected in the execution file. This is done by analyzing the relationship between the debugging execution file and the execution file by utilizing information like the sequence and type of the virtually running the processing commands.

Concluding Thoughts

According to the labs and research center of Fujitsu, this technology has the potential of 100% detection of bugs compared to the prior technologies that were only 67% efficient. During the experimentation phase, it is said to have been 88% precise. The discussed technology is expected to solve the risks issue of Ethereum smart contracts and will pave the way for future developments of the smart contract technology. Apart from this the technology will effectively reduce the labor given for tasks like code evaluation and amend the code.

We will be updating our subscribers as soon as we know more. For the latest on ETH, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pierre Metivier via Flickr

Blogs

How Can Foreigners Get Loans in Singapore

Published

on

loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

Continue Reading

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

Published

on

Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

Continue Reading

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

Published

on

CoinFlip

As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies like Bitcoin and Dash, to help protect their assets and hard-earned…

Continue Reading

Press Release