• Latest
  • Trending
  • All
  • LATEST NEWS
  • SPONSORED POSTS
  • BANKING
  • Cryptocurrency
  • Job Past Questions
  • PRICE WATCH
  • VIEW POINT
  • ECONOMY
  • Careers
  • Press Release
  • Breaking News
  • education news
  • Personal Finance
  • Networth
Ethereum Price smashes 2600 Ahead of the London upgrade

Telos Team uncovers critical bug in recent Ethereum Virtual Machine audit

August 25, 2021
nlc protest

Federal Government Urges NLC and TUC to Reconsider Nationwide Strike

September 29, 2023
U.S. President Joe Biden signs an executive order, in Washington

President Biden Appoints Two Nigerian-American Experts as Special Advisers

September 28, 2023
Meta AI Chatbot

Mark Zuckerberg Unveils Meta AI Chatbot, a Rival to OpenAI’s ChatGPT

September 28, 2023
Food Prices

Food Prices Soar by 31% in Nigeria with Ebonyi and Abia States Leading, Reports NBS

September 28, 2023
binance announcement

Binance Directs European Users to Convert Euros to USDT Following Paysafe’s Termination of Services

September 28, 2023
Arbitrum Ethereum Layer 2 Scaling Solution to Launch This Month

US Set to Welcome Ethereum Futures ETFs Trading Next Week, Bloomberg Analyst Predicts

September 28, 2023
Bitget study shows that 46% of millennials in the world's largest economies own crypto

Analyst Predicts Bitcoin Price Hike to $30K in October as Currency Sees 2% Uptick

September 28, 2023
Cooking Gas Prices in Nigeria: Skyrocketing to New Heights?

Rising Cooking Gas Prices Spark Concern: NALPGAM Calls for Federal Intervention

September 28, 2023
KPMG Nigeria sees significant growth in mobile banking

E-Banking Fees Surge to N154 Billion in First Half of 2023 Amid Growing Adoption

September 28, 2023
Okeodo Market

Lagos State Government Closes Okeodo Market Due to Environmental Violations

September 28, 2023
Nigerian Stock Trades Tumble to Four-Month Low Amid Market Uncertainties

Nigerian Stock Trades Tumble to Four-Month Low Amid Market Uncertainties

September 28, 2023
Nigeria Secures $1.95bn in World Bank Loans Amidst Rising Debt Concerns

Nigeria Secures $1.95bn in World Bank Loans Amidst Rising Debt Concerns

September 28, 2023
  • About
  • Privacy Policy
  • Terms of Use
  • Feedback
  • Advertise
Saturday, September 30, 2023
  • Login
Financial Watch
  • HOME
  • Banking
  • ECONOMY
  • VIEW POINT
  • PRICE WATCH
  • CRYPTO WATCH
No Result
View All Result
  • HOME
  • Banking
  • ECONOMY
  • VIEW POINT
  • PRICE WATCH
  • CRYPTO WATCH
No Result
View All Result
Financial Watch
No Result
View All Result
Home Cryptocurrency

Telos Team uncovers critical bug in recent Ethereum Virtual Machine audit

The audit was so thorough that they identified an exploit no one ever detected before

by Tosan Olajide
August 25, 2021
in Cryptocurrency
0
Ethereum Price smashes 2600 Ahead of the London upgrade

Ethereum Price smashes 2600 Ahead of the London upgrade

491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Telos Team uncovers critical bug in recent Ethereum Virtual Machine audit – The team at Telos (TLOS), a high-performance blockchain network processing a large number of transactions in an energy-efficient manner, has revealed that a potentially critical bug was identified during Telos’ recent Ethereum Virtual Machine (EVM) audit.

The vulnerability was reportedly detected by software security expert Guido Vranken (@guidovranken), who’s currently working for Sentnl. As confirmed in the announcement, the bug was discovered as part of a planned security audit for the Telos EVM.

The Sentnl audit team confirmed that they found a critical vulnerability in Ethereum’s (ETH) codebase while auditing their EVM. The team claims that millions of dollars could have been at risk of being compromised. However, their timely audit should now ensure that these issues won’t happen again. In good practice, the Sentnl audit team immediately informed the Ethereum developers about their findings.

Thoroughly Auditing Codebase to Ensure Maximum Security

PSA: On Tuesday Aug 24th, Geth will issue a hotfix to a high severity security issue. Please make any necessary preparations to upgrade to the upcoming release (v.1.10.8). #ethereum #geth

— Go Ethereum (@go_ethereum) August 18, 2021

It’s worth noting that these types of critical bugs are not uncovered very often.

As noted by the Telos team, they had decided to go the extra mile by having their codebase thoroughly audited before launching the Telos EVM. The team had realized that this was not the typical “cookie-cutter” auditor who will simply run a series of test codes.

The Telos developers further explained that these test codes are readily available online. They also noted that the team had written a library of their own custom test codes. After performing these tasks internally, they wanted to put their EVM under a real high-powered, third-party inspection.

The Telos team mentioned that they wanted a team of skilled white hat programmers to carefully go through every line of code. As a result, they extensively vetted and decided to work with Sentnl.

To vindicate this decision, the Sentnl team helped tighten the Telos code and to everyone’s surprise, they discovered a serious flaw in Ethereum while comparing Ethereum EVM code to the Telos EVM code.

According to the code testing experts, this should speak volumes about Sentnl and Telos EVM because Ethereum EVM has reportedly been vigorously audited. It’s continuously undergoing audits. So uncovering this bug was like finding a needle in a haystack.

The Ethereum developers have announced that a high severity security issue was detected.

PSA: On Tuesday Aug 24th, Geth will issue a hotfix to a high severity security issue. Please make any necessary preparations to upgrade to the upcoming release (v.1.10.8). #ethereum #geth

— Go Ethereum (@go_ethereum) August 18, 2021

Ethereum development teams also confirmed the bug and have given credit to Guido for finding the vulnerability.

Yes, confirmed, this one is a finding by @GuidoVranken https://t.co/JUA3dl08RX

— Go Ethereum (@go_ethereum) August 18, 2021

Telos Focuses on Ensuring High Level of Security

This latest auditing exercise indicates that Telos cares about security and hired a qualified and competent group to check their code. It’s very important to write code by observing best programming practices. It’s also vital to have that source code audited by an experienced third party so that they can identify any potential issues before publishing the codebase for use in a production environment.

As mentioned in the update from Telos, the audit was so thorough that they identified an exploit no one ever detected before. This incident confirms that we can put a high value on the level of code security of the Telos EVM.

As a global crypto community, they’re also a key part of the larger EVM and DeFi landscape, and the Telos team genuinely cares about the security and success of this emerging space.

Douglas Horn, Chief Architect at Telos, stated:

We were diligent in our selection process in picking Sentnl to audit the Telos EVM code. We wanted the best around and it’s gratifying to see such a clear demonstration that we made the right choice. Telos EVM intends to make a major contribution to the EVM space and we’re glad that our project is already leading to meaningful improvements to the Ethereum and DeFi worlds. People should also feel very confident that the most thorough standard of code review has gone into Telos EVM, thanks to Sentnl.

Guido Vranken from Sentnl Auditors said:

In order to find vulnerabilities in the Telos EVM, I engaged in deep and rigorous fuzzing, and verified that its behavior matched that of go-ethereum exactly. Despite go-ethereum having an outstanding track record when it comes to security, the procedure was so effective that it wasn’t just instrumental in asserting the correctness of the Telos EVM, but also found a high severity issue in go-ethereum.

Tags: altcoinsEthereum
Share196Tweet123
Previous Post

Cardano Foundation Implementing AML Analytics for Compliance

Next Post

Philippine Axie Infinity (AXS) players to pay tax on income from the game

Tosan Olajide

Tosan Olajide

Next Post
Philippine Axie Infinity AXS players to pay tax on income from the game

Philippine Axie Infinity (AXS) players to pay tax on income from the game

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
FRSC recruitment

Federal Road Safety Corps Salary Structure – See How FRSC Pay Workers

September 22, 2021
FRSC insists it has statutory powers to arrest traffic offenders impound vehicles

FRSC News 2021 – See Today’s Recruitment 10 latest Updates

September 11, 2021
The Nigerian Army DSSC SSC Recruitment Portal

Current Salary of Nigerian Army Officers: See Full Details (2021)

September 11, 2021
CBN AGSMEIS Loan Form 2020/2021: How To Apply Without Collateral

CBN Loan application Form 2021: How To Apply for Collateral free loan

August 17, 2021
Regulatory preasure forces Binance to suspend Euro deposits

Binance Makes Its Way into Dollar Indexes as BNB price Drops 10% in One Week

July 20, 2021
How buy 2019 JAMB 2019 UTME form/ registration PIN online

UTME result: How to Check JAMB Result 2022 – Jamb Result Checker

1333
JAMB Result checker 2020 out | www jamb org ng result checker

Utme 2021: Check JAMB Results Using JAMB Registration Number

1146
List of JAMB Approved CBT Centres In Abia State 2020/2021 | Abia State Jamb Cbt Centres

Jamb Portal 2021: How to check Jamb Results – jamb.org.ng/efacility

523
P Yes registration

www.p-yes.gov.ng – Register For P-YES Progeamme Portal – Apply Now

436
Breaking: JAMB releases more 15,490 UTME results

JAMB Results 2021 Online Checking Steps | www.jamb.org.ng Result

316
nlc protest

Federal Government Urges NLC and TUC to Reconsider Nationwide Strike

September 29, 2023
U.S. President Joe Biden signs an executive order, in Washington

President Biden Appoints Two Nigerian-American Experts as Special Advisers

September 28, 2023
Meta AI Chatbot

Mark Zuckerberg Unveils Meta AI Chatbot, a Rival to OpenAI’s ChatGPT

September 28, 2023
Food Prices

Food Prices Soar by 31% in Nigeria with Ebonyi and Abia States Leading, Reports NBS

September 28, 2023
binance announcement

Binance Directs European Users to Convert Euros to USDT Following Paysafe’s Termination of Services

September 28, 2023
Financial Watch

Copyright © 2023 Financial Watch.

Navigate Site

  • About
  • Privacy Policy
  • Terms of Use
  • Feedback
  • Advertise

Follow Us

No Result
View All Result
  • HOME
  • Banking
  • ECONOMY
  • VIEW POINT
  • PRICE WATCH
  • CRYPTO WATCH

Copyright © 2023 Financial Watch.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In