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Security firm reports a vulnerability in EOS Smart Contracts

Rohnak
Rohnak

According to information published by CryptoCoinSpy, the security firm Chengu LiaAn Technology Co. They claim to have found a “critical vulnerability” in the EOS smart contracts.

The error detected by the security agency is very similar to “barchOverflow“. This had compromised the security of a significant number of ERC20 tokens. As it caused the temporary suspension of transactions and withdrawals last week.

The “batchOverflow” bug allows hackers to create an unlimited number of tokens. The hackers make small changes to the values set in the smart contract code.

Errors not associated with platform security

In response to the information published. EOS technology director, Dan Larimer, Congratulated the security agency.

“The problem is not a security vulnerability,” but “The result of poor coding practices.” Dan Larimer said.

With these statements, Larimer ensures that the EOS structure works perfectly. The responsibility for such a security breach is borne by the programmers who create the smart contracts. They must take the necessary precautions to avoid these gaps that allow the production of new assets outside the workspace.

This type of event is those that usually impact future of programmers who are interested in blockchain to design smart contracts. At the moment it is unknown if the EOS platform has the potential to compete seriously with the Blockchain of Ethereum at the operational level.

EOS prices

In relation to the cryptocurrency, its prices saw a considerable increase in April. From the least price of $ 6 USD to registering a value higher than  $ 22.4 USD. This is representing an increase of more than 260% in less of one month.

This increase was supported by an increase in the volume of operations of important markets that support the digital currency, recording the largest capitalization of $ 18,350 million USD for April 29.

The Price of EOS, at this moment when it is 2:15 PM. in New York, EOS price in is $ 18.59 USD per unit. The EOS has a volume of operations in the last 24 hours exceeding USD $ 2.6 billion. EOS is the third Cryptocurrency with the most transactions, after Bitcoin and Tether.

EOSethsecurity

Rohnak

I have been following blockchain and crypto technology since its emergence.