LONDON, Aug. 24, 2021 (GLOBE NEWSWIRE) — (via Blockchain Wire)  Telos (http://telos.net), one of the most active, highest-capacity blockchain networks, today announced that an audit of Telos EVM, its new Ethereum Virtual Machine, performed by the code auditing firm Sentnl has resulted in the discovery of a high severity security issue in Ethereum’s core code that demanded an emergency hot patch of the Go Ethereum code, which was released today, August 24th at 10 AM Central Europe Time. 

The Telos Core Developers selected Sentnl as the outside auditor for Telos EVM runtime and RPC server code because of Sentnl’s excellent reputation and innovative testing methods such as “fuzzing” which have resulted in discovering numerous previous exploits including several in the eos.io protocol. In the process of testing the code, a flaw in the Telos EVM code was ultimately traced back to go-ethereum code and acknowledged by their team.

“In order to find vulnerabilities in the Telos EVM, I engaged in deep and rigorous fuzzing, and verified that its behavior matched that of go-ethereum exactly,” said Guido Vranken, crypto-fuzzing-expert and Sentnl’s auditor who found the code flaw. “Despite go-ethereum having an outstanding track record when it comes to security, the procedure was so effective that it wasn’t just instrumental in asserting the correctness of the Telos EVM, but also found a high severity issue in go-ethereum.”

Telos is known for its robust, third-generation blockchain governance system which includes advanced governance features and smart contracts. Telos EVM is the first ever EVM with Ethereum feature parity and the ability to run Solidity based smart contracts that is not a fork of the go-ethereum code base, but instead a smart contract emulating Ethereum within a Telos smart contract. As such, Telos EVM presents a completely separate decentralized Layer 1 environment that offers a new option for DeFi and other dapps seeking significantly lower cost, faster performance, higher capacity and the elimination of front-running or MEV compared to existing EVMs.

“We were diligent in our selection process in picking Sentnl to audit the Telos EVM code. We wanted the best around and it’s gratifying to see such a clear demonstration that we made the right choice,” said Telos Chief Architect Douglas Horn. “Telos intends to make a major contribution to the EVM space and we’re glad that our project is already leading to meaningful improvements to the Ethereum and DeFi worlds. Users and developers should also feel confident that the most thorough standard of code review has gone into Telos EVM, thanks to Sentnl and Guido.”

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ABOUT TELOS
Telos is a high-capacity network and one of the most active blockchain platforms in the world according to Blocktivity. Telos features a robust, third-generation blockchain governance system including advanced voting features and smart contracts that can be fully configured to meet the needs of any developer. Created by developers, for developers as a global grassroots project, Telos is one of the most decentralized blockchain platforms in existence. Telos Decide™ extends the chain’s state-of-the-art blockchain and governance features to all DApps on its platform, delivering the best user experience in the marketplace. Telos also supports the blockchain ecosystem by serving as an incubator and accelerator for decentralized applications through community voted development grants. For more information, please visit telos.net. 

All product and company names herein may be trademarks of their registered owners.

(Excerpt) Read more Here | 2021-08-24 09:00:00
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