SmartState blog

February 24, 2023

Blockchain consensus algorithms

A consensus algorithm is a mechanism which allows the participants (users or machines) to cooperate in a distributed setting. It is necessary to ensure that all agents within the system agree on the same single source of truth even if some of them fail. A consensus protocol makes it possible to verify and validate any transaction and reach a common agreement. Consensus algorithms help to establish trust between peers and make sure any new ...

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February 22, 2023

Multi-party computation (MPC) and its role in secure transactions

Multi-party computation (MPC) is a cryptographic tool which allows multiple parties making calculations by means of using their combined data, without revealing their individual input or any sensitive information. It was invented by Andrew Yao from China. It may be used to replace individual private keys for transaction signatures. The method uses a complex encryption to distribute the computations process and contributes to the signing ...

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February 20, 2023

hTMM threat modeling method

The Hybrid Threat Modeling Method (hTMM) was developed by the Software Engineering Institute (SEI). As the name suggests, it is a combination of several methods: SQUARE (Security Quality Requirements Engineering), designed to elicit, categorize and prioritize security requirements, Security Cards, STRIDE and PnG (Persona non Grata), which focuses on uncovering ways a system can be attacked. This combination helps to cover a wider range of ...

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February 19, 2023

Zero-knowledge proof in blockchain technology

Zero-knowledge proof (ZKP) is a type of math-based cryptography protocol or mechanism which allows to exchange data between parties without using passwords or any other contributory information. It is used by one of the parties involved in the transaction to verify the information is legit information without revealing anything else. Zero knowledge proof is considered one of the best and advanced solutions for achieving confidentiality ...

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February 17, 2023

NFT. Pros and Cons

Like any project, NFTs and their usage have their advantages and disadvantages. For example, loyalty programs and rewards are very important, attracting new purchasers and rising member acquisition. On the other hand, NFTs are quite ‘young’ and still have vulnerabilities, which, being ignored or overlooked, can lead to huge losses. Understanding pros and cons can help to make a correct choice.NFT BenefitsThere are several most ...

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February 17, 2023

Block Explorer: Etherscan

Etherscan (a.k.a. ‘Ethplorer’) is a block explorer and analytics platform that allows you to access details on any pending or confirmed Ethereum blockchain transactions. It is one of the most reliable and confident tools to navigate the public Ethereum data, including smart contracts and transaction records. It is self-contained and it is not controlled by the Ethereum Foundation (although the platform is centralized). The ...

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February 16, 2023

NFT basics

NFTs (Non-fungible tokens) continue their triumphant global march. They begin to take part in almost all spheres of life, not only art (music, graphic samples, even books and short stories can be wrapped into a token), fashion industry (brands and logo pieces) and web (including icons in social networks, memes, etc.) but also business and casual items (such as foodstuff or tissues). It's like the world itself is transforming into a large ...

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February 14, 2023

Security Cards Threat Modeling Method

The Security cards method uses a 'deck' of 42 cards to identify unusual and complex attacks. It is based on brainstorming and creativity, unlike other threat modeling approaches, and was developed to help security teams with studying specific attacks and increasing their knowledge about threats and threat modeling. Cards help to find answers to the questions about future attacks, presumable attackers, their motivation, target systems and ...

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February 13, 2023

Tools for blockchain security checkup

Blockchains promise a great future and a wide range of opportunities, and all of the participants, users as well as developers, are looking for secure solutions to safeguard their data and assets. Apart from risk assessment testing, blockchain testing help to ensure the quality of products being tested, increasing testing coverage and zeroing risks associated with inadequate knowledge. There are a number of tools used to ensure blockchain ...

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February 8, 2023

NFT Security. How to protect?

NFT is not a completely secure technology and is vulnerable to malicious activities. Thus, users are searching for ways to protect their property. Phishing attacks and fake NFT makers appear all the time, hackers try to break in and steal improperly stored NFTs, and when the safety rules are ignored, these attempts often end up successful. What actions should be taken to reach a sufficient level of security?Ways of protectionThere is a list ...

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