In October 2014, the British Library's seminar on the future of Bitcoin enabled the creation of the underlying technology block chain of Bitcoin, prompting attention and facilitating entrepreneurship in related fields. Just two years, the block chain's market share has reached 210.1 million US dollars.
Technically, the block chain is the integration of P2P networking (peer-to-peer network), asymmetric encryption, distributed database technology integration solutions. As a result of the advantages of a variety of technology, the block chain with a weak center, to the intermediary, a high degree of autonomy, not tampering and other characteristics, value of the Internet era of value transactions more convenient.
From the business application point of view, the block chain is a distributed shared account system. Unlike traditional centralized accounting systems, such as the central clearing house, the block chain creates trust and develops credit through distributed ownership management, collective autonomy, openness, transparency, irreversibility and traceability, allowing the value exchange process In the friction coefficient to achieve zero marginal cost. According to McKinsey and Oliver Consulting estimates, the block chain room infrastructure construction costs are only 1% of the current centralized data center, operating costs of only 3% -5%. The use of block-chain technology for cross-border payment and settlement, not only can shorten the settlement cycle, and annual savings of $ 10 billion -200 billion in costs.
In addition, the use of peer-to-peer networking, asymmetric encryption, and the Mikel tree (which can break down each chunk into chunks of data in a tree structure) makes it possible to spread, distribute and motivate block-chain networks Mechanisms are different from the information Internet. In the process of network transmission of information, information can be replicated numerous times. However, the uniqueness of value exchange requires that bilateral consumption, or even multilateral consumption, does not occur. Therefore, the block chain as an effective supplement to the central book system, and gradually evolved into one of the preferred value-switching network.
At present, financial institutions such as Goldman Sachs, EtherCentre, Reibo, R3CEV are not only committed to the study of digital encryption currency landing, more intelligent contract, record preservation and artificial intelligence architecture and other high-level application development. Governments have also joined the block chain investment and R & D camp. The Korean government recently announced that it will invest 2.6 billion US dollars in research and development of digital currency block chain applications.
Although the market for block chain technology, the degree of love can be seen, but the block chain there are still two shortcomings, need to be dialectical. First, the block chain system encryption algorithm is the product of the late 1990s, based on the US National Security Agency's security hash algorithm, the urgent need to integrate the current zero-knowledge proof, full-state encryption and other leading edge encryption technology.
Second, the performance of the block chain itself is reflected in the contradiction between throughput and storage bandwidth. The processing power of the 3-7 pen-per-second network of Bitcoin chains can not meet the payment and settlement requirements of the entire financial system. Recently, block chain start-up Safe Cash Payment announced that it has achieved 25,000 transactions per second, but the transaction speed upgrade is still dependent on changing the block size to achieve. Therefore, the block chain of rapid popularization and development, the average consumer to participate in the block chain application, you must first download the application service provider to provide the chain chain wallet, and the current 80GB of storage needs is the average consumer can not afford .
Technically, the block chain is the integration of P2P networking (peer-to-peer network), asymmetric encryption, distributed database technology integration solutions. As a result of the advantages of a variety of technology, the block chain with a weak center, to the intermediary, a high degree of autonomy, not tampering and other characteristics, value of the Internet era of value transactions more convenient.
From the business application point of view, the block chain is a distributed shared account system. Unlike traditional centralized accounting systems, such as the central clearing house, the block chain creates trust and develops credit through distributed ownership management, collective autonomy, openness, transparency, irreversibility and traceability, allowing the value exchange process In the friction coefficient to achieve zero marginal cost. According to McKinsey and Oliver Consulting estimates, the block chain room infrastructure construction costs are only 1% of the current centralized data center, operating costs of only 3% -5%. The use of block-chain technology for cross-border payment and settlement, not only can shorten the settlement cycle, and annual savings of $ 10 billion -200 billion in costs.
In addition, the use of peer-to-peer networking, asymmetric encryption, and the Mikel tree (which can break down each chunk into chunks of data in a tree structure) makes it possible to spread, distribute and motivate block-chain networks Mechanisms are different from the information Internet. In the process of network transmission of information, information can be replicated numerous times. However, the uniqueness of value exchange requires that bilateral consumption, or even multilateral consumption, does not occur. Therefore, the block chain as an effective supplement to the central book system, and gradually evolved into one of the preferred value-switching network.
At present, financial institutions such as Goldman Sachs, EtherCentre, Reibo, R3CEV are not only committed to the study of digital encryption currency landing, more intelligent contract, record preservation and artificial intelligence architecture and other high-level application development. Governments have also joined the block chain investment and R & D camp. The Korean government recently announced that it will invest 2.6 billion US dollars in research and development of digital currency block chain applications.
Although the market for block chain technology, the degree of love can be seen, but the block chain there are still two shortcomings, need to be dialectical. First, the block chain system encryption algorithm is the product of the late 1990s, based on the US National Security Agency's security hash algorithm, the urgent need to integrate the current zero-knowledge proof, full-state encryption and other leading edge encryption technology.
Second, the performance of the block chain itself is reflected in the contradiction between throughput and storage bandwidth. The processing power of the 3-7 pen-per-second network of Bitcoin chains can not meet the payment and settlement requirements of the entire financial system. Recently, block chain start-up Safe Cash Payment announced that it has achieved 25,000 transactions per second, but the transaction speed upgrade is still dependent on changing the block size to achieve. Therefore, the block chain of rapid popularization and development, the average consumer to participate in the block chain application, you must first download the application service provider to provide the chain chain wallet, and the current 80GB of storage needs is the average consumer can not afford .
It can be said that the block chain is like the birth of the first generation of information in 1968 the Internet in general, with unlimited possibilities. With the rise of the programmable digital economy, the research on technology application such as data encryption, storage and throughput can be effectively promoted. At the same time, it is necessary to formulate appropriate regulatory laws and technical standards to realize the sustainable development of the block chain in the whole society.
PSA from Kraken on mobile phone 2fa security:
As explained in the blog, your mobile phone number can be easily stolen and used to gain access to your other accounts. In the past month, there have been at least 10 cases of people publicly involved in the cryptocurrency scene being victimized this way.
To help protect yourself against this threat, do the following two things (details in the blog).
Call your mobile phone company and secure your number and account to make it harder for an attacker to steal your phone number. If your mobile company doesn’t offer good tools for securing your number, it’s time to switch to a new company that is better about security.
Separate your phone number from the security functions of all your sensitive accounts. This means your phone can’t be used for account authentication (by voice or SMS). Instead, use Google Authenticator, Yubikey, or a U2F security key whenever possible. It also means that your phone can’t be used for account recovery.
If you have questions or need help with any of this, our support team is always ready to assist: https://support.kraken.com
As explained in the blog, your mobile phone number can be easily stolen and used to gain access to your other accounts. In the past month, there have been at least 10 cases of people publicly involved in the cryptocurrency scene being victimized this way.
To help protect yourself against this threat, do the following two things (details in the blog).
Call your mobile phone company and secure your number and account to make it harder for an attacker to steal your phone number. If your mobile company doesn’t offer good tools for securing your number, it’s time to switch to a new company that is better about security.
Separate your phone number from the security functions of all your sensitive accounts. This means your phone can’t be used for account authentication (by voice or SMS). Instead, use Google Authenticator, Yubikey, or a U2F security key whenever possible. It also means that your phone can’t be used for account recovery.
If you have questions or need help with any of this, our support team is always ready to assist: https://support.kraken.com
Someone hacked Bo Shen from Fenbushi Capital (early supporter of both Augur and Ethereum), stole his ETH and REP, and dumped it on Polo, hence this price drop. The hacker has a list of email addresses that signed up for Augur. The same hacker has also attacked several other people involved with Augur. In every case their MO seems to be the same: they use social engineering of cell-phone carriers to get your phone number, then if you have a "recovery phone number" enabled in your email they use your phone to take over your email. Once they have your email they can use password resets etc. to take over everything else. IF YOU USE CRYPTOS AT ALL, EVER, YOU SHOULD NOT HAVE A RECOVERY PHONE NUMBER ON YOUR EMAIL ACCOUNT. If you follow the steps in this post http://blog.kraken.com/post/153209105847/security-advisory-mobile-phones then you should be secure.
Note that this has no bearing on the security of either Augur or Ethereum. Augur itself was not hacked. Ethereum itself was not hacked. This was purely personal account security and someone exploiting the extreme vulnerability of cell phone carriers to social engineering. The hacker did not directly break any of the cryptography that secures Ethereum/Augur accounts.
Note that this has no bearing on the security of either Augur or Ethereum. Augur itself was not hacked. Ethereum itself was not hacked. This was purely personal account security and someone exploiting the extreme vulnerability of cell phone carriers to social engineering. The hacker did not directly break any of the cryptography that secures Ethereum/Augur accounts.
Kraken Blog
Security Advisory: Mobile Phones
Heed this or perish. Let’s begin with the assumption that within 24 hours your usual mobile phone number will be hijacked by social engineers. They will use your number to gain access to every account you own that utilizes phone-based authentication and…
Venezuela, mired in an economic crisis and facing the world's highest inflation, will pull its largest bill, worth two U.S. cents on the black market, from circulation this week ahead of introducing new higher-value notes, President Nicolas Maduro said on Sunday.
The surprise move, announced by Maduro during an hours-long speech, is likely to worsen a cash crunch in Venezuela. Maduro said the 100-bolivar bill will be taken out of circulation on Wednesday and Venezuelans will have 10 days after that to exchange those notes at the central bank.
Critics slammed the move, which Maduro said was needed to combat contraband of the bills at the volatile Colombia-Venezuela border, as economically nonsensical, adding there would be no way to swap all the 100-bolivar bills in circulation in the time the president has allotted.
Central bank data showed that in November, there were more than six billion 100-bolivar bills in circulation, 48 percent of all bills and coins.
reuters.com/article/idUSKBN140115
The surprise move, announced by Maduro during an hours-long speech, is likely to worsen a cash crunch in Venezuela. Maduro said the 100-bolivar bill will be taken out of circulation on Wednesday and Venezuelans will have 10 days after that to exchange those notes at the central bank.
Critics slammed the move, which Maduro said was needed to combat contraband of the bills at the volatile Colombia-Venezuela border, as economically nonsensical, adding there would be no way to swap all the 100-bolivar bills in circulation in the time the president has allotted.
Central bank data showed that in November, there were more than six billion 100-bolivar bills in circulation, 48 percent of all bills and coins.
reuters.com/article/idUSKBN140115
Alert.
Social Engineering attacks are happening in Slack channels and likely other social media.
Tipical username and picture clone with the odd extra letter.
Don't do high trust transactions, unless you get a skype of video or PGP or other highly reliable validation of identity.
Social Engineering attacks are happening in Slack channels and likely other social media.
Tipical username and picture clone with the odd extra letter.
Don't do high trust transactions, unless you get a skype of video or PGP or other highly reliable validation of identity.