More

    Kudelski Security Announces New Insecure Blockchain ‘FumbleChain' to Teach Hackers About DLT

    It is a pretty commonplace idea to think that blockchain technology means protection. Unfortunately, this idea could not be further apart from the truth. Despite the supposition of security, blockchains with exploits can be dangerous for everyone involved.

    This is why Kudelski Security has recently announced that it will launch a new blockchain without deliberate flaws. The new project is set to be launched during the Black Hat USA infosec, according to The Next Web’s Hard Fork.

    The convention, which is set to happen in Las Vegas, will see the launch of FumbleChain. The whole idea is that the network will be easy to exploit so that hackers can play and try to destroy it.

    FumbleChain will have its own “e-commerce” app, FumbleStore, which will serve as a “capture the flag” game. These are games in which hackers compete to try to break into something.

    Don’t mistake this idea for actual support for criminals, though. The idea is to educate the “good hackers” on how to exploit decentralized systems in order to find flaws in an easier way and fix them quickly before the “bad hackers” get at it and steal people’s money or information.

    According to Nathan Hamiel, the head of cybersecurity at the company, there is a common error in which people think that blockchains are inherently safe when they are not. The technology, in his opinion, is very nuanced and complex, and it is quite easy to create breaches if you are not careful. Because of this, you simply can’t blindly trust it.

    While it may seem strange to non-hackers, this kind of approach is actually very common. Many broken apps are released in competitions so that people can try out their skills.

    The blockchain will be created using Python as the programming language, mostly because it is considered very easy to manipulate and this will make it easier for the participants to break in and modify the source code of the blockchain.

    As soon as some of the hacking challenges proposed by the company are done, more will be added. This will keep the blockchain live for some time while people are trying out their skills.

    Kudelski Security has affirmed that the app will also be available as a code repository on GitHub in case someone wants to download and check out the code.

    There is only warning, though. According to Kudelski, if you run the program, you might end up putting your own computer at risk. This happens because the software is notoriously broken, so you really should know what you are doing if you want to be a part of this initiative.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Avatar
    Gabriel Machadohttps://bitcoinexchangeguide.com/
    Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,353FansLike
    2,773FollowersFollow
    4,130FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Crypto Community Sentiment Still Bullish Despite BTC Trading 40% Lower Than Yearly High

    Bitcoin proponents had a lot of expectations from 2020, given the impending Block Reward Halving and the expected bull run. The year started as...

    Modern Monetary Theory (MMT) vs BTC to be the Main Event of 2020

    The biggest global emergency of the century, COVID-19 pandemic has the Treasury officials trying to decide on how much they can spend to fight...

    This Crisis Is A ‘Perfect Storm' For Bitcoin But We Could Be In For A ‘Prolonged Bear Market'

    Bitcoin is back in the green, recording the gains of 3.14% in the past 24 hours while volume on the top ten exchanges with...

    Banking Giant Santander to Bring One Pay FX Payment System to Mexico Utilizing RippleNet

    In 2020, the major Spain-based bank Santander is planning to roll out the One Pay FX program, its Ripple powered system for international payments,...

    Bitcoin Bull Market Won’t be Happening Immediately After the Halving: Bitmain CEO

    Bitcoin is currently trading above $6,300, still down over 14% on a year-to-date basis but up more than 60% from the 2020 low of...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.