Obike FavourThe Ethereum Foundation is currently making plans to develop a security team that is made up of different individuals who are very skilled in crypto-economic modeling, fuzzing, and many more.
According to a recent tweet by Justin Drake, a researcher at Ethereum Foundation, the security system will be solely dedicated to the much-awaited Ethereum 2.0. The Foundation has beckoned on the general public to send in their various areas of specialization.
The security team would consist of people skilled in bounty hunting, applied cryptanalysis, crypto-economic modeling, pager duties, fuzzing, formal verification, and many other security-related skills.
Just a few weeks ago, the Ethereum Foundation had publicly challenged hackers to launch attacks on some proposed Ethereum 2.0 networks. The bounty program was launched to provide the security researchers with an environment where they can disable the Ethereum 2.0 networks by exploiting certain security issues.
See Also: What Will Ethereum 2.0 Mean for DeFi?
The networks to be used for the security tests were allegedly real. However, they had deployed just but four nodes with 128 validators. Additionally, deposits were not enabled in the networks.
The goal of the attackers would be to render the Ethereum 2.0 network vulnerable for at least 1 hour and 42 minutes. The ETH Foundation had promised to give individual hackers and some groups a reward of $5,000 if they are able to break into the security system of the Ethereum 2.0.
By running these open attacks on the system, the researchers at Ethereum Foundation will be in a better position to discover some other security issues that can make the network vulnerable, which may not be found if it undergoes just simple testing.
The progress that has been made on the Ethereum 2.0 network has been accelerating at a much higher pace as the much-anticipated launch date for the network draws ever nearer. The final preparations are being made to ensure that there are no lags when the network is finally launched.
The development of an internal security team by the company is also one of the preparations. A few months ago, the Ethereum developers unveiled a testnet for the ETH 2.0 dubbed “Schlesi.”
Your crypto deserves the best security. Get a Ledger hardware wallet for just $79!
Information found on this website is those of the writers quoted. It does not represent the opinions of Coinfomania on whether to buy, sell, or hold any investments. Readers must conduct their own research before making any investment decisions. Use the provided information at your own risk.