GuardianCoin Inc. uses GuardianCoin Network Overwatch to assist EOSIO Block Producers Identify and Overcome Security Vulnerabilities from Testnet to MainNet
GEORGE TOWN, GRAND CAYMAN, CAYMAN ISLANDS, July 10, 2018 /EINPresswire.com/ — Guardian Coin Inc. (www.guardiancoin.io) which, later this year will launch a hard fork of EOS that is encrypted and anonymous with government-grade security, today announced that it has been working closely with Block One's EOSIO and the Block Producers to identify security vulnerabilities on the EOS MainNet.
GCI utilized a beta version of its GuardianCoin Network Overwatch, a continuous assessment capability for blockchain and network vulnerabilities, to assess the EOS TestNets, Block Producers, and the MainNet for over 155,000 potential threats. GuardianCoin Network Overwatch tested these assets against 14 international security standards, including PCI-DSS (Payment Card Industry – Data Security Standard).
GCI identified 220 security vulnerabilities on the EOS Dawn 4.0 TestNet. For each vulnerability, GCI provided the mitigation methodology or remediation fix. As a result, 162 vulnerabilities were eliminated by the launch of EOS MainNet, 51 additional vulnerabilities were subsequently eliminated, and the remaining seven vulnerabilities are in the process of final remediation.
"The efficiency of hunting the network vulnerabilities and the simplicity of the remediation steps allowed the community to reduce operational risk fast. The capability and team at GuardianCoin are very impressive," said Tim Lewis of LibertyBlock and Ikigai Fund.
"Without claiming bug bounties, the GuardianCoin team helped make the EOS Mainnet much more secure than the community may realize," said David Moss, formerly Senior Vice President, Tech Operations at Block.One.
Christo Boshoff, Co-Head of GuardianCoin Network Overwatch said: "The community should not confuse vulnerabilities with inevitable bugs working their way through the code, as bugs can often affect the operational performance of a blockchain but may not equate to a security risk. Conversely, bug-free code can still contain serious security vulnerabilities."
Blockchain is still in the early stages of development and can often lack the rigorous security testing associated with more mature markets. GuardianCoin's assessment goes beyond best-in-class commercial to testing expected in the most sensitive areas of government.
This press release is not intended to be and shall not be construed as the offer or sale of securities by GCI, including the offer or sale of securities within the United States. GCI may not offer or sell securities within the United States absent registration under U.S. Securities Act of 1933, as amended, or an applicable exemption from the registration requirements. Any public offering by GCI of securities within the United States will be by means of a prospectus that may be obtained by GCI that will contain detailed information about GCI and management, as well as financial statements.
About Guardian Coin Inc.
GCI is a technology company that provides leading-edge solutions for security and privacy. In 2018, GCI will launch the GuardianCoin Network, the world's first genuinely secure and scalable 3rd Generation Blockchain ensuring the privacy of transactions, the security of holdings and the anonymity of payments and messages at scale.
GCI intends for its network to become the first truly secure 3rd Generation blockchain alternative to Bitcoin, Ethereum, EOS and other digital tokens, through the fusion of four critical capabilities: A scalable, secure and decentralized 3rd Generation blockchain architecture; Military-grade encryption for transactions; Cryptographic anonymity for payments and messages; and An environment supporting the creation of dApps with security and privacy at their core.
GCI will deliver critically needed solutions to the enterprise and government markets, which are massive, under-served, and urgently require an advanced, security-first blockchain solution.
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Source: EIN Presswire