August ICON Development Update 2020

Revision 10 Update, Preparation of an Upcoming Release, and Contribution Proposal System

Greetings ICONists,

August was another eventful month for the ICON project. We continued to make progress on an upcoming release that we’re very excited about and we hope to share details on soon. We successfully stopped a malicious attacker, progressed on the contribution proposal system and selected a team to work on its build-out. Furthermore, we are examining the testing and development processes going forward and will be making significant changes which we hope to share in short order. In the meantime, please find the main highlights for the month of August below.

1. Revision 10 Update

At UTC 2020–08–22, the ICON network experienced an attack by a malicious individual exploiting a vulnerability in the Multiple Unstaking Requests feature. This issue was completely resolved using the Revision 10 Proposal.

The Revision 10 update fixed the vulnerability in the feature (noted above) and blacklisted the attacker accounts.

To prevent this kind of issue from ever occurring again, our team is considering a number of ways, such as community bug bounty programs and some new additional features on the blockchain to account for errors, etc. These are still being reviewed and will be shared with the community very soon.

More details on the above events can be found in these links:

Network Update: Revision 10

Release Note

2. News on Contribution Proposal System Development

The Contribution Proposal System is a community-driven fund to incentivize ecosystem projects that will be driving the growth of our network.

Since announcing the development of this system, we have been fine-tuning the final features with the community’s feedback. And recently, we recruited community members to develop this system. Note, this is the first community-driven core system development and another step towards our open source ethos.

The Foundation put out an RFP (Request for Proposal) to develop the Contribution Proposal System as outlined in the most recent paper and the scope of work will involve smart contract development, back-end development, and front-end development. Please see the RFP.

We are excited to announce to the community that iBriz will be leading this effort. iBriz is a talented group of developers and has significant experience developing for the ICON blockchain, particularly with SCORE. We look forward to working alongside this talented group and making the contribution proposal system a key component of our network for many years to come.

Thank you,

ICON Foundation

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