Quantstamp Discovers Two Big Flaws in Bancor’s Smart Contract

Bancor Protocol is a standard for Smart Tokens, and can allow anyone to create smart coins....that can hold and trade other cryptocurrenccies.
Bancor Coin (BNT) is the Genesis smart coin that will be used to establish the BANCOR network and function as a native currency.
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Quantstamp Discovers Two Big Flaws in Bancor’s Smart Contract

Post by GameOfCoins » Sat Apr 07, 2018 12:46 pm

"To put everything into its proper perspective, the Bancor smart contract is not under immediate threat as of right now. Most of the code is well-written and does not warrant any changes whatsoever. However, Quantstamp did identify two vulnerabilities which the team will need to look into sooner rather than later. For the five contracts being audited, only a few aspects triggered an official warning.

Quantstamp is doing the entire blockchain industry a favor by properly analyzing all of these smart contracts. The last thing anyone needs is another repeat of The DAO, with millions of dollars worth of funds being lost or stolen and necessitating another Ethereum hard fork. For Bancor, it seems addressing these issues will not be much of a problem, assuming they take this feedback to heart.

The two vulnerabilities discovered by Quantstamp are well worth taking notice of, though. The first flaw occurs when the BancorConverter contract executes the state of another contract. According to Quantstamp, this can create a problem, as it takes “little skill to exploit” the reentrancy flaw. The company even highlighted the line of code which is at risk, and it will be interesting to see whether or not Bancor addresses this problem soon."

https://themerkle.com/quantstamp-discov ... -contract/

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