| | NOVEMBER 14th, 2016
“When you want to know how things really work, study them when they're coming apart.” – William Gibson
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Is complete security possible in the cryptocurrency world?
In spite of a ‘ceremony’ right after the inception of Zcash (involving a blowtorch), some in the cryptocurrency community still harbour doubts about its efficacy.
For us to believe that it is now impossible to replicate the initial public key (which would enable mining of fake Zcash coins), we need to trust the six initiators who were in charge of destroying their part of it. In a system designed to eliminate the need for trust, this creates some discomfort.
Given the high cost, the likelihood of compromise is slight, although it could still be an appealing objective for state players. And however small the risk, some argue that it’s too high. (Read the full story.)
We are excited to announce the launch of a new event series: monthly fireside chats with leaders and innovators from the cryptocurrency and blockchain sectors, at our headquarters in New York.
The series kicks off on November 22nd at 6:30pm with a conversation between bitcoin pioneer Charlie Shrem and digital currency lawyer Marco Santori. Get your tickets on Eventbrite.
Wait, there's more:
· Big bank tests blockchain. Singapore’s OCBC Bank has tested a blockchain-based payments service, successfully sending funds between its operations in Singapore and Malaysia. Read more.
· The hackathon ecosystem. Apart from a fertile breeding ground for creative ideas, hackathons are increasingly becoming an efficient way to network, connecting legacy companies with blockchain entrepreneurs and developers. Read more.
· Opinion piece. Trump’s policies could bring about a collapse in the current global monetary system. Bitcoin is well positioned to step in as a substitute reserve currency. Read more.
· How safe is safe? We offer a deep dive into bitcoin’s security model. The discussion includes incentives, misunderstandings, hardware, SPV clients and the balance of power. Read more.
· Sidechains patents. Blockstream has applied for a patent for a system to transfer data from a parent chain to a sidechain. The patent, if granted, would be open source under the copyleft Defensive Patent License. Read more.
· Segwit advances. One in four bitcoin nodes are running the latest Core software, which includes code for SegWit. This update could, if implemented, expand block capacity without increasing its size. Read more.
· KYC on DLT. Financial blockchain consortium R3 has completed a 3-month test of blockchain identity with 10 member banks. Read more.
BTC: $700.16 -2.5%
ETH: $9.98 -4.7% at 10:00am EST more details
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