VeChainThor Undergoes Rigorous Security Checks June 2, 2018 June 4, 2018 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
NewsJune 2, 2018 by Kelly Cromley

VeChainThor Undergoes Rigorous Security Checks

To secure VeChainThor Platform from attacks, the team has put the blockchain network to rigorous third-party tests. The platform has been undergoing security tests, code audits, alpha testing, and mobile wallet security testing during last month. VeChainThor team has stated that the tests would be ongoing until the release of mainnet. The team has also revealed that there were no major concerns brought to light so far by the testing process.

VeChain team, which believes true security is possible only with external collaboration, has partnered with several firms to conduct mainnet testing. A synopsis on those companies are given below:

Secureware – a blockchain security firm which supports secure software development lifecycle and security assessments. The company employs a broad network of skilled software and security experts from industry, venture capital, and academia to assist with clients’ time-sensitive delivery and technical requirements.

Hosho – a leader in blockchain security, with specialization in enterprise-grade security services for Fortune 500 companies. The company is totally focused on the blockchain industry. Furthermore, it sets the standard for blockchain security by providing world class smart contract auditing and penetration testing services.

SlowMist – is another company focused on blockchain ecosystem security. The founding members of the company have the expertise of working in the field of security for multinational companies such as Google, Microsoft, Tencent, Baidu, Alibaba, and W3C. The founders also have experience in working for government bodies such as the China Ministry of Public Security. The company’s capabilities include deploying defensive systems, security auditing, and underground hacker tracking and prevention.

Notably, the Slow Mist security team identified an automated piracy attack recently. The hacker used an authentication flaw in Ethereum nodes’s Geth/Parity RPC API to steal ETH tokens via eth_zend transaction. The team found that the attack went on for two years and nearly $20 million worth Ethereum has been stolen in total. Furthermore, the hacker has stolen 164 different cryptocurrencies in the same manner and total amount swindled is difficult to establish. The event is now being referred as ETH BLACK Valentine’s Day.

HackenProof – is a crowd sourced vulnerability rewarding platform and a division of the Hacken Ecosystem. The platform enables businesses to join hands with bug spotters and security researchers to identify vulnerabilities and prevent cyber attacks.

The above discussed security firms are actively involved in monitoring VeChainThor blockchain. Presently, two sections of the network is under going rigorous testing.

1. VeChainThor mainnet source code review

A thorough testing of the VeChainThor mainnet source code, node consensus algorithm, node communication security audit, and virtual machine security audit is being conducted.

2. VeChainThor mobile wallet security testing

The following kind of tests are performed to verify the security of mobile wallet.

    • App security audit
    • Intelligence gathering
    • Server security configuration audit
    • Identity management audit
    • Certification and authorization audit
    • Session management audit
    • Input security audit
    • Business logic audit
    • Cryptographic security audit

VeChainThor has also utilized HackenProof to draw 100 developers to perform a similar analysis. Additionally, the platform’s strategic partners and dApps projects are also actively involved in alpha testing. The strategic partners are eager to run their applications soon after the mainnet launch.

VechainThor has also authorized SlowMist to set up the Authority Masternode security standard. This would include recommended masternode hosting architecture, Masternode configuration audit, RPC security, security log, DDoS protection, network security, and other related services.

VeChainThor team intends to assist Authority Master Nodes set up a secure environment and negate risks of tampering “while reviewing the inner workings of viewing, creating and verifying blocks.”

As VeChainThor blockchain platform is expected to be ued for performing trillions worth transactions, the team is leaving no stone unturned when it comes to security. VeChainThor believes that it will be the most used blockchain as companies come on board after the launch of mainnet.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.