ECDSA In Bitcoin - coinsnews.com

New to Bitcoin? Confused? Need help? You've come to the right place.

Bitcoin is an internet based decentralised currency. Similarly to Bittorrent, but Bitcoin uses a public ledger called the blockchain to record who has sent and received money. It's very new, and for many very confusing. BitcoinHelp aims to rectify this. Whether it be explaining how it works, how to use it, how to buy Bitcoins, how to integrate Bitcoins into your business. Sharing your successes as well as failures in order to help others is also gladly received. Ask away!
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Researchers from Princeton and Stanford Announce New ECDSA Threshold Signature Scheme That Is Particularly Well-Suited for Securing Bitcoin Wallets

Researchers from Princeton and Stanford Announce New ECDSA Threshold Signature Scheme That Is Particularly Well-Suited for Securing Bitcoin Wallets submitted by desantis to Bitcoin [link] [comments]

The bitcoin blockchain and ECDSA Nonce Reuse Private Key recovery attacks made easy. (old attack, new tool)

The bitcoin blockchain and ECDSA Nonce Reuse Private Key recovery attacks made easy. (old attack, new tool) submitted by nibbl0r to Bitcoin [link] [comments]

The bitcoin blockchain and ECDSA Nonce Reuse Private Key recovery attacks made easy. (old attack, new tool)

The bitcoin blockchain and ECDSA Nonce Reuse Private Key recovery attacks made easy. (old attack, new tool) submitted by BitcoinAllBot to BitcoinAll [link] [comments]

New Powerful Attacks On ECDSA In Bitcoin Systems

New Powerful Attacks On ECDSA In Bitcoin Systems submitted by btcdrak to Bitcoin [link] [comments]

Bitcoin mentioned around Reddit: A new lattice attack on DSA/ECDSA /r/i2p

Bitcoin mentioned around Reddit: A new lattice attack on DSA/ECDSA /i2p submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Researchers from Princeton and Stanford Announce New ECDSA Threshold Signature Scheme That Is Particularly Well-Suited for Securing Bitcoin Wallets

Researchers from Princeton and Stanford Announce New ECDSA Threshold Signature Scheme That Is Particularly Well-Suited for Securing Bitcoin Wallets submitted by moon_drone to BetterBitcoin [link] [comments]

[CCS Results] Monero Atomic Swaps research

Hi Monero community!
Two months ago I posted a CCS for continuing my research on Monero Atomic Swaps. That research is now complete and I'm happy to present my results.
This post will be a summary of my research, but you can also find the whitepaper that describes the full protocol and all the details here.

Shiny BTC/XMR Atomic Swap Protocol!

We found it! With the help of the MRL, my colleagues, and the community, we created the first (to our knowledge) protocol to atomically swap bitcoin and monero. And this resulting protocol is implementable today - no more obscure crypto!

Why now? What changed?

When I started studying Monero for a Bitcoin/Monero atomic swap three and a half years ago, most of the swap protocols where based on 'Hash Time Locked Contract' (HTLC), something that we all know as non-existent on Monero. So the goal at the beginning of the project was to create an atomic swap where all the logic (timeouts, possible sequences of operation, secret disclosures, etc) is managed on the other chain: the Bitcoin chain.
The second difficulty with Monero and Bitcoin is their respective underlying cryptographic parameters: they don't share the same elliptic curve, they don't share the same signing algorithm; they have nothing in common! This makes the pair a bad candidate for other types of atomic swap that don't (solely) rely on HTLC.
In November 2018 we came up with a draft protocol that respects the above constraints. Thus, the protocol requires a specific type of zero-knowledge proof to be trustless: a hash pre-image zero-knowledge proof. This type of zkp is not wildly used in practice, if at all. Thus the protocol works in theory, but with some obscure crypto, making the protocol a bad candidate for an implementation.
In early 2020, after presenting the draft protocol at 36C3 in December 2019, I discovered, by reference from Sarang Noether (MRL), Andrew Poelstra's idea of doing a discrete logarithm equality across group zero-knowledge proof of knowledge (MRL-0010), meaning that we can prove some relations between elements in two different groups (two curves to simplify) and the paper by LLoyd Fournier on One-Time Verifiably Encrypted Signatures allowing secret disclosure with ECDSA.
With these two new (to me) cryptographic primitives, we were able to replace the previous zero-knowledge proof with a combination of the latter, making the protocol complete and practically feasible.

How it works

As a broad overview (and simplified) the protocol work as follow:
If the swap succeeds, A reveals to B, and if the swap is cancelled, B reveals to A. (We have a third scenario explained in the paper to force reaction and avoid deadlock.)

Next steps

The obvious next step would be to have a working implementation on mainnet, but a ready-to-use implementation that is also robust and safe-to-use requires a lot of engineering work. Furthermore, even though the cryptography is not too obscure, most of it still also lacks an implementation.
I'll post soon, if the community wants it, a CCS proposal to get my team and I to work on implementing this protocol, step by step, with the end goal of creating a working client/daemon for swapping Bitcoin and Monero. It would be very exciting to build that!

Conclusion

Thanks to the MRL and its researchers for their help, the CCS team, and the community for its support!
I hope I fulfilled the community's expectations for my my first CCS - all feedback is appreciated.
submitted by h4sh3d to Monero [link] [comments]

Why is Bitcoin secure? Answer: it has very little to do with decentralization.

ECDSA can be broken, with enough computational power applied to the problem over time, for a single keypair.
If you use a new keypair for each transaction, it makes this attack exponentially hard for an attacker. Knowing the details of the RNG, makes it even easier.
In reality, there is no such thing as a true random number generator. That is the main flaw in elliptic curve cryptography. You can make it really hard, but you can never make it computationally impossible.
The security mechanism of bitcoin, is that it constantly moves, taking the goalpoasts with it. So all the work you might have done to break a single kepair, is immediately invalidated, by the utxo model, when those coins now are controlled by a new keypair. The attacker has to start over, from the beginning.
Velocity is important, in this security model. Which is why those who think an account based model on this system are ultimately doomed.
Cryptographic functions create a difficult, but not impossible problem.
Constant creation of new problems makes this a hard problem for attackers.
Store of value bullshit. Where you store bitcoin for years, and consolidate all your bitcoin into a single UTXO. If you are not using your bitcoin, you are opening yourself up to attack.
submitted by m_murfy to bitcoincashSV [link] [comments]

Technical: Confidential Transactions and Their Implementation Tradeoffs

As requested by estradata here: https://old.reddit.com/Bitcoin/comments/iylou9/what_are_some_of_the_latest_innovations_in_the/g6heez1/
It is a general issue that crops up at the extremes of cryptography, with quantum breaks being just one of the extremes of (classical) cryptography.

Computational vs Information-Theoretic

The dichotomy is between computationally infeasible vs informationally-theoretic infeasible. Basically:
Quantum breaks represent a possible reduction in computational infeasibility of certain things, but not information-theoretic infeasibility.
For example, suppose you want to know what 256-bit preimages map to 256-bit hashes. In theory, you just need to build a table with 2256 entries and start from 0x0000000000000000000000000000000000000000000000000000000000000000 and so on. This is computationally infeasible, but not information-theoretic infeasible.
However, suppose you want to know what preimages, of any size, map to 256-bit hashes. Since the preimages can be of any size, after finishing with 256-bit preimages, you have to proceed to 257-bit preimages. And so on. And there is no size limit, so you will literally never finish. Even if you lived forever, you would not complete it. This is information-theoretic infeasible.

Commitments

How does this relate to confidential transactions? Basically, every confidential transaction simply hides the value behind a homomorphic commitment. What is a homomorphic commitment? Okay, let's start with commitments. A commitment is something which lets you hide something, and later reveal what you hid. Until you reveal it, even if somebody has access to the commitment, they cannot reverse it to find out what you hid. This is called the "hiding property" of commitments. However, when you do reveal it (or "open the commitment"), then you cannot replace what you hid with some other thing. This is called the "binding property" of commitments.
For example, a hash of a preimage is a commitment. Suppose I want to commit to something. For example, I want to show that I can predict the future using the energy of a spare galaxy I have in my pocket. I can hide that something by hashing a description of the future. Then I can give the hash to you. You still cannot learn the future, because it's just a hash, and you can't reverse the hash ("hiding"). But suppose the future event occurs. I can reveal that I did, in fact, know the future. So I give you the description, and you hash it and compare it to the hash I gave earlier. Because of preimage resistance, I cannot retroactively change what I hid in the hash, so what I gave must have been known to me at the time that I gave you the commitment i..e. hash ("binding").

Homomorphic Commitments

A homomorphic commitment simply means that if I can do certain operations on preimages of the commitment scheme, there are certain operations on the commitments that would create similar ("homo") changes ("morphic") to the commitments. For example, suppose I have a magical function h() which is a homomorphic commitment scheme. It can hide very large (near 256-bit) numbers. Then if h() is homomorphic, there may be certain operations on numbers behind the h() that have homomorphisms after the h(). For example, I might have an operation <+> that is homomorphic in h() on +, or in other words, if I have two large numbers a and b, then h(a + b) = h(a) <+> h(b). + and <+> are different operations, but they are homomorphic to each other.
For example, elliptic curve scalars and points have homomorphic operations. Scalars (private keys) are "just" very large near-256-bit numbers, while points are a scalar times a standard generator point G. Elliptic curve operations exist where there is a <+> between points that is homomorphic on standard + on scalars, and a <*> between a scalar and a point that is homomorphic on standard * multiplication on scalars.
For example, suppose I have two large scalars a and b. I can use elliptic curve points as a commitment scheme: I can take a <*> G to generate a point A. It is hiding since nobody can learn what a is unless I reveal it (a and A can be used in standard ECDSA private-public key cryptography, with the scalar a as the private key and the point A as the public key, and the a cannot be derived even if somebody else knows A). Thus, it is hiding. At the same time, for a particular point A and standard generator point G, there is only one possible scalar a which when "multiplied" with G yields A. So scalars and elliptic curve points are a commitment scheme, with both hiding and binding properties.
Now, as mentioned there is a <+> operation on points that is homomorphic to the + operation on corresponding scalars. For example, suppose there are two scalars a and b. I can compute (a + b) <*> G to generate a particular point. But even if I don't know scalars a and b, but I do know points A = a <*> G and B = b <*> G, then I can use A <+> B to derive (a + b) <*> G (or equivalently, (a <*> G) <+> (b <*> G) == (a + b) <*> G). This makes points a homomorphic commitment scheme on scalars.

Confidential Transactions: A Sketch

This is useful since we can easily use the near-256-bit scalars in SECP256K1 elliptic curves to easily represent values in a monetary system, and hide those values by using a homomorphic commitment scheme. We can use the hiding property to prevent people from learning the values of the money we are sending and receiving.
Now, in a proper cryptocurrency, a normal, non-coinbase transaction does not create or destroy coins: the values of the input coins are equal to the value of the output coins. We can use a homomorphic commitment scheme. Suppose I have a transaction that consumes an input value a and creates two output values b and c. That is, a = b + c, i.e. the sum of all inputs a equals the sum of all outputs b and c. But remember, with a homomorphic commitment scheme like elliptic curve points, there exists a <+> operation on points that is homomorphic to the ordinary school-arithmetic + addition on large numbers. So, confidential transactions can use points a <*> G as input, and points b <*> G and c <*> G as output, and we can easily prove that a <*> G = (b <*> G) <+> (c <*> G) if a = b + c, without revealing a, b, or c to anyone.

Pedersen Commitments

Actually, we cannot just use a <*> G as a commitment scheme in practice. Remember, Bitcoin has a cap on the number of satoshis ever to be created, and it's less than 253 satoshis, which is fairly trivial. I can easily compute all values of a <*> G for all values of a from 0 to 253 and know which a <*> G corresponds to which actual amount a. So in confidential transactions, we cannot naively use a <*> G commitments, we need Pedersen commitments.
If you know what a "salt" is, then Pedersen commitments are fairly obvious. A "salt" is something you add to e.g. a password so that the hash of the password is much harder to attack. Humans are idiots and when asked to generate passwords, will output a password that takes less than 230 possibilities, which is fairly easy to grind. So what you do is that you "salt" a password by prepending a random string to it. You then hash the random string + password, and store the random string --- the salt --- together with the hash in your database. Then when somebody logs in, you take the password, prepend the salt, hash, and check if the hash matches with the in-database hash, and you let them log in. Now, with a hash, even if somebody copies your password database, the can't get the password. They're hashed. But with a salt, even techniques like rainbow tables make a hacker's life even harder. They can't hash a possible password and check every hash in your db for something that matches. Instead, if they get a possible password, they have to prepend each salt, hash, then compare. That greatly increases the computational needs of a hacker, which is why salts are good.
What a Pedersen commitment is, is a point a <*> H, where a is the actual value you commit to, plus <+> another point r <*> G. H here is a second standard generator point, different from G. The r is the salt in the Pedersen commitment. It makes it so that even if you show (a <*> H) <+> (r <*> G) to somebody, they can't grind all possible values of a and try to match it with your point --- they also have to grind r (just as with the password-salt example above). And r is much larger, it can be a true near-256-bit number that is the range of scalars in SECP256K1, whereas a is constrained to "reasonable" numbers of satoshi, which cannot exceed 21 million Bitcoins.
Now, in order to validate a transaction with input a and outputs b and c, you only have to prove a = b + c. Suppose we are hiding those amounts using Pedersen commitments. You have an input of amount a, and you know a and r. The blockchain has an amount (a <*> H) <+> (r <*> G). In order to create the two outputs b and c, you just have to create two new r scalars such that r = r[0] + r[1]. This is trivial, you just select a new random r[0] and then compute r[1] = r - r[0], it's just basic algebra.
Then you create a transaction consuming the input (a <*> H) <+> (r <*> G) and outputs (b <*> H) <+> (r[0] <*> G) and (c <*> H) <+> (r[1] <*> G). You know that a = b + c, and r = r[0] + r[1], while fullnodes around the world, who don't know any of the amounts or scalars involved, can just take the points (a <*> H) <+> (r <*> G) and see if it equals (b <*> H) <+> (r[0] <*> G) <+> (c <*> H) <+> (r[1] <*> G). That is all that fullnodes have to validate, they just need to perform <+> operations on points and comparison on points, and from there they validate transactions, all without knowing the actual values involved.

Computational Binding, Information-Theoretic Hiding

Like all commitments, Pedersen Commitments are binding and hiding.
However, there are really two kinds of commitments:
What does this mean? It's just a measure of how "impossible" binding vs hiding is. Pedersen commitments are computationally binding, meaning that in theory, a user of this commitment with arbitrary time and space and energy can, in theory, replace the amount with something else. However, it is information-theoretic hiding, meaning an attacker with arbitrary time and space and energy cannot figure out exactly what got hidden behind the commitment.
But why?
Now, we have been using a and a <*> G as private keys and public keys in ECDSA and Schnorr. There is an operation <*> on a scalar and a point that generates another point, but we cannot "revrese" this operation. For example, even if I know A, and know that A = a <*> G, but do not know a, I cannot derive a --- there is no operation between A G that lets me know a.
Actually there is: I "just" need to have so much time, space, and energy that I just start counting a from 0 to 2256 and find which a results in A = a <*> G. This is a computational limit: I don't have a spare universe in my back pocket I can use to do all those computations.
Now, replace a with h and A with H. Remember that Pedersen commitments use a "second" standard generator point. The generator points G and H are "not really special" --- they are just random points on the curve that we selected and standardized. There is no operation H G such that I can learn h where H = h <*> G, though if I happen to have a spare universe in my back pocket I can "just" brute force it.
Suppose I do have a spare universe in my back pocket, and learn h = H G such that H = h <*> G. What can I do in Pedersen commitments?
Well, I have an amount a that is committed to by (a <*> H) <+> (r <*> G). But I happen to know h! Suppose I want to double my money a without involving Elon Musk. Then:
That is what we mean by computationally binding: if I can compute h such that H = h <*> G, then I can find another number which opens the same commitment. And of course I'd make sure that number is much larger than what I originally had in that address!
Now, the reason why it is "only" computationally binding is that it is information-theoretically hiding. Suppose somebody knows h, but has no money in the cryptocurrency. All they see are points. They can try to find what the original amounts are, but because any amount can be mapped to "the same" point with knowledge of h (e.g. in the above, a and 2 * a got mapped to the same point by "just" replacing the salt r with r - a * h; this can be done for 3 * a, 4 * a etc.), they cannot learn historical amounts --- the a in historical amounts could be anything.
The drawback, though, is that --- as seen above --- arbitrary inflation is now introduced once somebody knows h. They can multiply their money by any arbitrary factor with knowledge of h.
It is impossible to have both perfect hiding (i.e. historical amounts remain hidden even after a computational break) and perfect binding (i.e. you can't later open the commitment to a different, much larger, amount).
Pedersen commitments just happen to have perfect hiding, but only computationally-infeasible binding. This means they allow hiding historical values, but in case of anything that allows better computational power --- including but not limited to quantum breaks --- they allow arbitrary inflation.

Changing The Tradeoffs with ElGamal Commitments

An ElGamal commitment is just a Pedersen commitment, but with the point r <*> G also stored in a separate section of the transaction.
This commits the r, and fixes it to a specific value. This prevents me from opening my (a <*> H) <+> (r <*> G) as ((2 * a) <*> H) <+> ((r - a * h) <*> G), because the (r - a * h) would not match the r <*> G sitting in a separate section of the transaction. This forces me to be bound to that specific value, and no amount of computation power will let me escape --- it is information-theoretically binding i.e. perfectly binding.
But that is now computationally hiding. An evil surveillor with arbitrary time and space can focus on the r <*> G sitting in a separate section of the transaction, and grind r from 0 to 2256 to determine what r matches that point. Then from there, they can negate r to get (-r) <*> G and add it to the (a <*> H) <+> (r <*> G) to get a <*> H, and then grind that to determine the value a. With massive increases in computational ability --- including but not limited to quantum breaks --- an evil surveillor can see all the historical amounts of confidential transactions.

Conclusion

This is the source of the tradeoff: either you design confidential transactions so in case of a quantum break, historical transactions continue to hide their amounts, but inflation of the money is now unavoidable, OR you make the money supply sacrosanct, but you potentially sacrifice amount hiding in case of some break, including but not limited to quantum breaks.
submitted by almkglor to Bitcoin [link] [comments]

[ANN] RustCrypto: `k256` and `p256` v0.2.0: pure Rust secp256k1 and NIST P-256 ECDH and ECDSA (no_std/embedded-friendly)

Announcing v0.4.0 releases of these RustCrypto elliptic curve crates:
(see also ecdsa v0.7 and p384 v0.3)
The major notable new features in these releases are:

Elliptic Curve Diffie-Hellman

Key exchange protocol which establishes a shared secret between two parties.

Elliptic Curve Digital Signature Algorithm

Pervasively used public-key scheme for authenticating messages.

Notes on this release

These crates contain experimental pure Rust implementations of scalafield arithmetic for the respective elliptic curves (secp256k1, NIST P-256). These implementations are new, unaudited, and haven't received much public scrutiny. We have explicitly labeled them as being at a "USE AT YOUR OWN RISK" level of maturity.
That said, these implementations utilize the best modern practices for this class of elliptic curves (complete projective formulas providing constant time scalar multiplication).
In particular:
This release has been a cross-functional effort, with contributions from some of the best Rust elliptic curve cryptography experts. I'd like to thank everyone who's contributed, and hope that these crates are useful, especially for embedded cryptography and cryptocurrency use cases.
EDIT: the version in the title is incorrect. The correct version is v0.4.0, unfortunately the title cannot be edited.
submitted by bascule to rust [link] [comments]

Ceterum censeo: In some yet undefined future - the halving must be removed. The question is not: if, but when (and how)

Bitcoin's mining ecosystem is saturated. Period.
The ASIC race has weakened as it has moved closer to the technological limits - achieving some kind of fragile balance. The best proof of this is Bitmain's search for new areas (vide: AI research)
After more than a decade, we are smarter than Satoshi at least in one area - we have the knowledge acquired over these more than ten years ...
"Bitcoin should have had a 0.1% or 1% monetary inflation tax to pay for security." (Peter Todd): https://www.google.com/search?q=peter+todd+inflation
If someone cannot accept the inevitability of this right now - let him think if he would change his mind while he sees the consecutive halvings - after which the network hashrate drops half by half - and does not return to the previous level, ever... (I suppose we can see that process in 4 years already...)
And the trigger could be like this (of course after general consensus):
That would be an "organoleptic" determination of the optimal inflation rate for the Bitcoin network - and there is simply no better way to determine it. Just don't belive such simplification, when is hard to find an optimum for something - the ultimate solution is zero. It's not.
Remember, that Bitcoin is not an entity detached from the reality. There are various limitations, e.g. nanometer-based technological processes limitations, there is a finite amount of cheap energy that can be obtained on a global scale, etc.) Bitcoin functions in certain realities - whether we like it or not.
Sooner or later the situation described above will get us. It is worth to be prepared mentally for it - and not to start another war, but rather discuss it calmly. If, for example, 90% of the community considers that something is necessary for the development of bitcoin - such a change will take place.
For example, the theoretical exchange of ECDSA due to the threat of quantum computers - acceptance would take place at an express rate. It will be similar in this matter. Just it shouldn't be too late for corrective action.
The small inflation rate, decreasing continuosly and slowly but never to zero, and last but not least: determined by reality - seems to be the most proper measure in this case.
Ceterum censeo...
EDIT: If:
a) tx fees are able to keep miners mining - perfect
b) miners are pushed out by consecutive halvings - not perfect
What I proposed is unbiased way for checking that (bitcoin ecosystem overall health):
if(current_network_hashrate < network_hashrate_4_years_ago) {
do_something();
}
else do_nothing();
submitted by jk_14r to Bitcoin [link] [comments]

Thanks to all who submitted questions for Shiv Malik in the GAINS AMA yesterday, it was great to see so much interest in Data Unions! You can read the full transcript here:

Thanks to all who submitted questions for Shiv Malik in the GAINS AMA yesterday, it was great to see so much interest in Data Unions! You can read the full transcript here:

Gains x Streamr AMA Recap

https://preview.redd.it/o74jlxia8im51.png?width=1236&format=png&auto=webp&s=93eb37a3c9ed31dc3bf31c91295c6ee32e1582be
Thanks to everyone in our community who attended the GAINS AMA yesterday with, Shiv Malik. We were excited to see that so many people attended and gladly overwhelmed by the amount of questions we got from you on Twitter and Telegram. We decided to do a little recap of the session for anyone who missed it, and to archive some points we haven’t previously discussed with our community. Happy reading and thanks to Alexandre and Henry for having us on their channel!
What is the project about in a few simple sentences?
At Streamr we are building a real-time network for tomorrow’s data economy. It’s a decentralized, peer-to-peer network which we are hoping will one day replace centralized message brokers like Amazon’s AWS services. On top of that one of the things I’m most excited about are Data Unions. With Data Unions anyone can join the data economy and start monetizing the data they already produce. Streamr’s Data Union framework provides a really easy way for devs to start building their own data unions and can also be easily integrated into any existing apps.
Okay, sounds interesting. Do you have a concrete example you could give us to make it easier to understand?
The best example of a Data Union is the first one that has been built out of our stack. It's called Swash and it's a browser plugin.
You can download it here: http://swashapp.io/
And basically it helps you monetize the data you already generate (day in day out) as you browse the web. It's the sort of data that Google already knows about you. But this way, with Swash, you can actually monetize it yourself. The more people that join the union, the more powerful it becomes and the greater the rewards are for everyone as the data product sells to potential buyers.
Very interesting. What stage is the project/product at? It's live, right?
Yes. It's live. And the Data Union framework is in public beta. The Network is on course to be fully decentralized at some point next year.
How much can a regular person browsing the Internet expect to make for example?
So that's a great question. The answer is no one quite knows yet. We do know that this sort of data (consumer insights) is worth hundreds of millions and really isn't available in high quality. So With a union of a few million people, everyone could be getting 20-50 dollars a year. But it'll take a few years at least to realise that growth. Of course Swash is just one data union amongst many possible others (which are now starting to get built out on our platform!)
With Swash, I believe they now have 3,000 members. They need to get to 50,000 before they become really viable but they are yet to do any marketing. So all that is organic growth.
I assume the data is anonymized btw?
Yes. And there in fact a few privacy protecting tools Swash supplys to its users.
How does Swash compare to Brave?
So Brave really is about consent for people's attention and getting paid for that. They don't sell your data as such.
Swash can of course be a plugin with Brave and therefore you can make passive income browsing the internet. Whilst also then consenting to advertising if you so want to earn BAT.
Of course it's Streamr that is powering Swash. And we're looking at powering other DUs - say for example mobile applications.
The holy grail might be having already existing apps and platforms out there, integrating DU tech into their apps so people can consent (or not) to having their data sold - and then getting a cut of that revenue when it does sell.
The other thing to recognise is that the big tech companies monopolise data on a vast scale - data that we of course produce for them. That is stifling innovation.
Take for example a competitor map app. To effectively compete with Google maps or Waze, they need millions of users feeding real time data into it.
Without that - it's like Google maps used to be - static and a bit useless.
Right, so how do you convince these big tech companies that are producing these big apps to integrate with Streamr? Does it mean they wouldn't be able to monetize data as well on their end if it becomes more available through an aggregation of individuals?
If a map application does manage to scale to that level then inevitably Google buys them out - that's what happened with Waze.
But if you have a data union which bundles together the raw location data of millions of people then any application builder can come along and license that data for their app. This encourages all sorts of innovation and breaks the monopoly.
We're currently having conversations with Mobile Network operators to see if they want to pilot this new approach to data monetization. And that's what even more exciting. Just be explicit with users - do you want to sell your data? Okay, if yes, then which data point do you want to sell.
Then the mobile network operator (like T-mobile for example) then organises the sale of the data of those who consent and everyone gets a cut.
Streamr - in this example provides the backend to port and bundle the data, and also the token and payment rail for the payments.
So for big companies (mobile operators in this case), it's less logistics, handing over the implementation to you, and simply taking a cut?
It's a vision that we'll be able to talk more about more concretely in a few weeks time 😁
Compared to having to make sense of that data themselves (in the past) and selling it themselves
Sort of.
We provide the backened to port the data and the template smart contracts to distribute the payments.
They get to focus on finding buyers for the data and ensuring that the data that is being collected from the app is the kind of data that is valuable and useful to the world.
(Through our sister company TX, we also help build out the applications for them and ensure a smooth integration).
The other thing to add is that the reason why this vision is working, is that the current data economy is under attack. Not just from privacy laws such as GDPR, but also from Google shutting down cookies, bidstream data being investigated by the FTC (for example) and Apple making changes to IoS14 to make third party data sharing more explicit for users.
All this means that the only real places for thousands of multinationals to buy the sort of consumer insights they need to ensure good business decisions will be owned by Google/FB etc, or from SDKs or through this method - from overt, rich, consent from the consumer in return for a cut of the earnings.
A couple of questions to get a better feel about Streamr as a whole now and where it came from. How many people are in the team? For how long have you been working on Streamr?
We are around 35 people with one office in Zug, Switzerland and another one in Helsinki. But there are team members all over the globe, we’ve people in the US, Spain, the UK, Germany, Poland, Australia and Singapore. I joined Streamr back in 2017 during the ICO craze (but not for that reason!)
And did you raise funds so far? If so, how did you handle them? Are you planning to do any future raises?
We did an ICO back in Sept/Oct 2017 in which we raised around 30 Millions CHF. The funds give us enough runway for around five/six years to finalize our roadmap. We’ve also simultaneously opened up a sister company consultancy business, TX which helps enterprise clients implementing the Streamr stack. We've got no more plans to raise more!
What is the token use case? How did you make sure it captures the value of the ecosystem you're building
The token is used for payments on the Marketplace (such as for Data Union products for example) also for the broker nodes in the Network. ( we haven't talked much about the P2P network but it's our project's secret sauce).
The broker nodes will be paid in DATAcoin for providing bandwidth. We are currently working together with Blockscience on our tokeneconomics. We’ve just started the second phase in their consultancy process and will be soon able to share more on the Streamr Network’s tokeneconoimcs.
But if you want to summate the Network in a sentence or two - imagine the Bittorrent network being run by nodes who get paid to do so. Except that instead of passing around static files, it's realtime data streams.
That of course means it's really well suited for the IoT economy.
Well, let's continue with questions from Twitter and this one comes at the perfect time. Can Streamr Network be used to transfer data from IOT devices? Is the network bandwidth sufficient? How is it possible to monetize the received data from a huge number of IOT devices? From u/ EgorCypto
Yes, IoT devices are a perfect use case for the Network. When it comes to the network’s bandwidth and speed - the Streamr team just recently did extensive research to find out how well the network scales.
The result was that it is on par with centralized solutions. We ran experiments with network sizes between 32 to 2048 nodes and in the largest network of 2048 nodes, 99% of deliveries happened within 362 ms globally.
To put these results in context, PubNub, a centralized message brokering service, promises to deliver messages within 250 ms — and that’s a centralized service! So we're super happy with those results.
Here's a link to the paper:
https://medium.com/streamrblog/streamr-network-performance-and-scalability-whitepaper-adb461edd002
While we're on the technical side, second question from Twitter: Can you be sure that valuable data is safe and not shared with service providers? Are you using any encryption methods? From u/ CryptoMatvey
Yes, the messages in the Network are encrypted. Currently all nodes are still run by the Streamr team. This will change in the Brubeck release - our last milestone on the roadmap - when end-to-end encryption is added. This release adds end-to-end encryption and automatic key exchange mechanisms, ensuring that node operators can not access any confidential data.
If BTW - you want to get very technical the encryption algorithms we are using are: AES (AES-256-CTR) for encryption of data payloads, RSA (PKCS #1) for securely exchanging the AES keys and ECDSA (secp256k1) for data signing (same as Bitcoin and Ethereum).
Last question from Twitter, less technical now :) In their AMA ad, they say that Streamr has three unions, Swash, Tracey and MyDiem. Why does Tracey help fisherfolk in the Philippines monetize their catch data? Do they only work with this country or do they plan to expand? From u/ alej_pacedo
So yes, Tracey is one of the first Data Unions on top of the Streamr stack. Currently we are working together with the WWF-Philippines and the UnionBank of the Philippines on doing a first pilot with local fishing communities in the Philippines.
WWF is interested in the catch data to protect wildlife and make sure that no overfishing happens. And at the same time the fisherfolk are incentivized to record their catch data by being able to access micro loans from banks, which in turn helps them make their business more profitable.
So far, we have lots of interest from other places in South East Asia which would like to use Tracey, too. In fact TX have already had explicit interest in building out the use cases in other countries and not just for sea-food tracking, but also for many other agricultural products.
(I think they had a call this week about a use case involving cows 😂)
I recall late last year, that the Streamr Data Union framework was launched into private beta, now public beta was recently released. What are the differences? Any added new features? By u/ Idee02
The main difference will be that the DU 2.0 release will be more reliable and also more transparent since the sidechain we are using for micropayments is also now based on blockchain consensus (PoA).
Are there plans in the pipeline for Streamr to focus on the consumer-facing products themselves or will the emphasis be on the further development of the underlying engine?by u/ Andromedamin
We're all about what's under the hood. We want third party devs to take on the challenge of building the consumer facing apps. We know it would be foolish to try and do it all!
As a project how do you consider the progress of the project to fully developed (in % of progress plz) by u/ Hash2T
We're about 60% through I reckon!
What tools does Streamr offer developers so that they can create their own DApps and monetize data?What is Streamr Architecture? How do the Ethereum blockchain and the Streamr network and Streamr Core applications interact? By u/ CryptoDurden
We'll be releasing the Data UNion framework in a few weeks from now and I think DApp builders will be impressed with what they find.
We all know that Blockchain has many disadvantages as well,
So why did Streamr choose blockchain as a combination for its technology?
What's your plan to merge Blockchain with your technologies to make it safer and more convenient for your users? By u/ noonecanstopme
So we're not a blockchain ourselves - that's important to note. The P2P network only uses BC tech for the payments. Why on earth for example would you want to store every single piece of info on a blockchain. You should only store what you want to store. And that should probably happen off chain.
So we think we got the mix right there.
What were the requirements needed for node setup ? by u/ John097
Good q - we're still working on that but those specs will be out in the next release.
How does the STREAMR team ensure good data is entered into the blockchain by participants? By u/ kartika84
Another great Q there! From the product buying end, this will be done by reputation. But ensuring the quality of the data as it passes through the network - if that is what you also mean - is all about getting the architecture right. In a decentralised network, that's not easy as data points in streams have to arrive in the right order. It's one of the biggest challenges but we think we're solving it in a really decentralised way.
What are the requirements for integrating applications with Data Union? What role does the DATA token play in this case? By u/ JP_Morgan_Chase
There are no specific requirements as such, just that your application needs to generate some kind of real-time data. Data Union members and administrators are both paid in DATA by data buyers coming from the Streamr marketplace.
Regarding security and legality, how does STREAMR guarantee that the data uploaded by a given user belongs to him and he can monetize and capitalize on it? By u/ kherrera22
So that's a sort of million dollar question for anyone involved in a digital industry. Within our system there are ways of ensuring that but in the end the negotiation of data licensing will still, in many ways be done human to human and via legal licenses rather than smart contracts. at least when it comes to sizeable data products. There are more answers to this but it's a long one!
Okay thank you all for all of those!
The AMA took place in the GAINS Telegram group 10/09/20. Answers by Shiv Malik.
submitted by thamilton5 to streamr [link] [comments]

08-13 21:45 - 'Building the Infrastructure for the Future Decentralized Financial Market, Coinbase Included HBTC.Com Debut DeFi Project - Nest Protocol' (self.Bitcoin) by /u/Nest_Fan removed from /r/Bitcoin within 24-34min

'''
As the world’s leading regulatory compliant digital asset exchange, Coinbase sets one of the most stringent requirements for digital asset listing which includes technical evaluation of projects, legal and risk analysis, market supply and demand analysis, and crypto-economics. Coinbase holds a strong reputation in the digital asset industry, and thus the “Coinbase Standard” is considered as the industry benchmark for other digital asset projects, and the market has even seen the “Coinbase effect”.
On July 25 2020, Coinbase quietly launched the pricing chart of a decentralized oracle project, NEST Protocol (NEST), into its portal. Although Coinbase has yet to announce the inclusion of the project in its evaluation list, it represents a keen interest in the DeFi sector, and particularly in the DeFi price oracle projects.
NEST Protocol is the rising star in the decentralized price oracle sector
Decentralized financial services offered by the current mainstream DeFi platforms such as MakerDAO, Compound, dYdX, etc. rely heavily on the market data provided by the oracle projects. Oracle projects act as reliable information sources to feed these price data to other DeFi Projects, connecting the price data from the centralized world to the DeFi space. As such, the price oracle is an integral part of the decentralized financial services infrastructure.
Traditionally, the price oracle collects data from different platforms and feeds these data points to the DeFi space to create data reference points to enable them to function properly. However, many problems currently exist in the DeFi space, for example, blockchain network congestion, malicious attacks, wild market fluctuations, and other factors that may cause the data given by the price oracle to deviate from the true market data. These ultimately cause users to trade on wrong information in the DeFi space and increases such transaction costs.
Decentralized finance requires a fast, secure, and reliable price oracle. The birth of the decentralized price oracle is the embodiment of the blockchain industry’s thinking, and the current market projects offering decentralized price oracle services which includes NEST Protocol, Chainlink, Band Protocol, Tellor, Witness, Oraclize, and many others.
The innovation of NEST-Price is that every data point has been agreed upon by market validators, in line with the blockchain consensus mechanism. NEST-Price synchronizes the off-chain price in a highly decentralized manner, creating real and valid price data on-chain. This is the unique differentiator between NEST-Price and other price oracles.
Compared with other price oracle projects, NEST also has other features and advantages, such as the proposed peer-to-peer quotation matching as well as its unique verifier verification structure, making NEST more resilient to malicious attacks, resulting in a more decentralized network, and it’s on-chain prices closer to the fair market price. All of this has resulted in the NEST Protocol becoming a rising star in the DeFi price oracle sector. HBTC.com selects high-quality projects to list and partnering with NEST to promote the development of DeFi ecosystem
During the selection of quality assets, exchanges like [HBTC.com]1 and Coinbase adhere to the principle of a rigorous selection of assets from different projects to enable a proper range of digital assets. At the same time, in order to solve existing pain points in the digital asset industry, which currently lacks a market-making management solution, HBTC.com also has launched its own “coin listing crowdsourcing [liquidity initiative]2 “, redefining the exchange market making model.
HBTC.com, through its coin listing strategy, effectively reduces the problem of low liquidity in the early stages of high-quality projects, ensuring the smoothness of the user experience, and achieves a win-win situation for traders, the community, and the respective trading platform. These initiatives, coupled with reliable user protection and a responsible attitude, have earned a positive reputation among users.
Since its inception, the HBTC.com exchange has been committed to the discovery of both quality and promising digital asset projects. At a time when DeFi is growing rapidly, HBTC.com has a unique perspective for the decentralized price oracle sector and has prioritized NEST as a premium partner to debut the project alongside with its global branding upgrade. In addition, HBTC.com has [100% proof of reserves]3 for traders to validate the existence of assets via the Merkle tree, which brings transparency to the extreme.
In May 2020, NEST token delivered a 883.29% of return, at its peak, after its global debut on HBTC.com. At present, HBTC Exchange addresses holding NEST token accounts in a total of 141 million, ranked first in the overall network. At the same time, the HBTC Exchange network exclusively releases NEST staking mining and data show that NEST 24-hour turnover has reached $20.4 million.
Post-listing of the NEST token, HBTC.com has also listed DeFi projects such as DF, OKS, NEST, SWTH, JST, NVT, and other DeFi projects with market potential; some projects have achieved astonishing performance in the secondary market.
HBTC.com’s path to DeFi: developing public chains to prepare for the future ecosystem breakout.
In terms of the DeFi product and ecosystem infrastructure, HBTC has deployed HBTC Chain since launched in 2018, an infrastructure designed for decentralized finance and DeFi business with patented Bluehelix decentralized cross-chain clearing and custody technology.
The HBTC Chain is the DeFi ecosystem infrastructure that the team has spent a significant amount of effort to build. It is based on decentralization and community consensus and integrates cryptography and blockchain technologies to support decentralized association-based governance capabilities at the technical level. Based on decentralized key management, combining various cryptography tools including ECDSA, commitment, zero-knowledge proof, and multi-party computation, It implements the distributed private key generation and signature for cross-chain assets among all validators. On top of that, this technology can realize light-weight and non-intrusive cross-chain asset custody. On the clearing layer, HBTC Chain employs BHPOS consensus and horizontal sharding mechanisms to achieve high-performing transaction clearing, and implementation of OpenDex protocol to help the development of the DeFi ecosystem.
In addition, with the success experience of Bluehelix Cloud SaaS and white label solutions and the HBTC Brokerage system, HBTC’s public chain also innovatively supports CEX+DEX mixed matchmaking model and OpenDex protocol and proposes the three-tier node system which consists of standard node + consensus node + core node. This structure provides HBTC public chain certain advantages in terms of performance and cross-chain transactions. Users can easily establish a DEX with OpenDex protocol at nearly zero cost, and all DEX will share the liquidity and support customized user interface and trading parameters. The trading experience can be completely comparable to centralized spot exchanges.
With the launch of its test network, it is now possible to develop various DeFi applications on the HBTC public chain, such as decentralized swap, so that private keys are not controlled by any party; no KYC, which can prevent personal information leakage; and asset security through the setting of invalidation, cancellation of transactions and other functions, cross-chain asset mappings, such as the ability to issue cross-chain cBTC or other chain tokens, fully decentralized asset mapping contracts, and 100% reserves.
Conclusion
In the past few months, the DeFi market has been extremely active, the price of DeFi tokens has been rising, and a new round of competition with the centralized exchanges has started. HBTC Chain relies on the powerful technology of Bluehelix and [HBTC.com]1 , giving all public chains the ability to interconnect, and put into both DeFi and SaaS levels. Undoubtedly, as one of the first exchanges to build the DeFi ecosystem, HBTC is leading the breakout in the current DeFi craze and has now become the first choice of users to engage with quality DeFi projects.

From BITCOIN news([[link]6 )
'''
Building the Infrastructure for the Future Decentralized Financial Market, Coinbase Included HBTC.Com Debut DeFi Project - Nest Protocol
Go1dfish undelete link
unreddit undelete link
Author: Nest_Fan
1: *btc*com/ 2: m*diu**com/hbt***ficia*/hbt*-launches-ba**liquidi*y***owd*unding-li*ti*g-plan-redefine-t*e*exch*nge-*i*tin**m*d*l***6*58f*f1d* 3: hbtc.ze**e*k*co*/hc/*n-us/a**icles/3***46287754-HBT*-10*-*ro***of*Reserve 4: hb*c.co*/ 5: n*ws.bitcoin.c*m*bu*ld*ng-t**-infr***ructur*-f*r-the*fut*re*decen**ali**d-*inanc*a*-market-coi**as*-*ncluded-h*t*-*o*-*ebut-de**-p*oject-n*st-**otocol* 6: n**s.bit*oin*com/building-th*-infrast*u*ture*for-t*e-fut****decen**a**zed**inancia*-m*rket-coinbase-**c*uded-*b*c-c***deb***defi-**oject-*est**r**ocol/]^^5
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

ECDSA In Bitcoin

Digital signatures are considered the foundation of online sovereignty. The advent of public-key cryptography in 1976 paved the way for the creation of a global communications tool – the Internet, and a completely new form of money – Bitcoin. Although the fundamental properties of public-key cryptography have not changed much since then, dozens of different open-source digital signature schemes are now available to cryptographers.

How ECDSA was incorporated into Bitcoin

When Satoshi Nakamoto, a mystical founder of the first crypto, started working on Bitcoin, one of the key points was to select the signature schemes for an open and public financial system. The requirements were clear. An algorithm should have been widely used, understandable, safe enough, easy, and, what is more important, open-sourced.
Of all the options available at that time, he chose the one that met these criteria: Elliptic Curve Digital Signature Algorithm, or ECDSA.
At that time, native support for ECDSA was provided in OpenSSL, an open set of encryption tools developed by experienced cipher banks in order to increase the confidentiality of online communications. Compared to other popular schemes, ECDSA had such advantages as:
These are extremely useful features for digital money. At the same time, it provides a proportional level of security: for example, a 256-bit ECDSA key has the same level of security as a 3072-bit RSA key (Rivest, Shamir и Adleman) with a significantly smaller key size.

Basic principles of ECDSA

ECDSA is a process that uses elliptic curves and finite fields to “sign” data in such a way that third parties can easily verify the authenticity of the signature, but the signer himself reserves the exclusive opportunity to create signatures. In the case of Bitcoin, the “data” that is signed is a transaction that transfers ownership of bitcoins.
ECDSA has two separate procedures for signing and verifying. Each procedure is an algorithm consisting of several arithmetic operations. The signature algorithm uses the private key, and the verification algorithm uses only the public key.
To use ECDSA, such protocol as Bitcoin must fix a set of parameters for the elliptic curve and its finite field, so that all users of the protocol know and apply these parameters. Otherwise, everyone will solve their own equations, which will not converge with each other, and they will never agree on anything.
For all these parameters, Bitcoin uses very, very large (well, awesomely incredibly huge) numbers. It is important. In fact, all practical applications of ECDSA use huge numbers. After all, the security of this algorithm relies on the fact that these values are too large to pick up a key with a simple brute force. The 384-bit ECDSA key is considered safe enough for the NSA's most secretive government service (USA).

Replacement of ECDSA

Thanks to the hard work done by Peter Wuille (a famous cryptography specialist) and his colleagues on an improved elliptical curve called secp256k1, Bitcoin's ECDSA has become even faster and more efficient. However, ECDSA still has some shortcomings, which can serve as a sufficient basis for its complete replacement. After several years of research and experimentation, a new signature scheme was established to increase the confidentiality and efficiency of Bitcoin transactions: Schnorr's digital signature scheme.
Schnorr's signature takes the process of using “keys” to a new level. It takes only 64 bytes when it gets into the block, which reduces the space occupied by transactions by 4%. Since transactions with the Schnorr signature are the same size, this makes it possible to pre-calculate the total size of the part of the block that contains such signatures. A preliminary calculation of the block size is the key to its safe increase in the future.
Keep up with the news of the crypto world at CoinJoy.io Follow us on Twitter and Medium. Subscribe to our YouTube channel. Join our Telegram channel. For any inquiries mail us at [[email protected]](mailto:[email protected]).
submitted by CoinjoyAssistant to btc [link] [comments]

ABCMint is a quantum resistant cryptocurrency with the Rainbow Multivariable Polynomial Signature Scheme.

Good day, the price is going up to 0.3USDT.

ABCMint Second Foundation

ABCMint has been a first third-party organization that focuses on post-quantum cryptography research and technology and aims to help improve the ecology of ABCMint technology since 2018.


https://abcmintsf.com

https://abcmintsf.com/exchange


What is ABCMint?

ABCMint is a quantum resistant cryptocurrency with the Rainbow Multivariable Polynomial Signature Scheme.

Cryptocurrencies and blockchain technology have attracted a significant amount of attention since 2009. While some cryptocurrencies, including Bitcoin, are used extensively in the world, these cryptocurrencies will eventually become obsolete and be replaced when the quantum computers avail. For instance, Bitcoin uses the elliptic curved signature (ECDSA). If a bitcoin user?s public key is exposed to the public chain, the quantum computers will be able to quickly reverse-engineer the private key in a short period of time. It means that should an attacker decide to use a quantum computer to decrypt ECDSA, he/she will be able to use the bitcoin in the wallet.

The ABCMint Foundation has improved the structure of the special coin core to resist quantum computers, using the Rainbow Multivariable Polynomial Signature Scheme, which is quantum resisitant, as the core. This is a fundamental solution to the major threat to digital money posed by future quantum computers. In addition, the ABCMint Foundation has implemented a new form of proof of arithmetic (mining) "ABCardO" which is different from Bitcoin?s arbitrary mining. This algorithm is believed to be beneficial to the development of the mathematical field of multivariate.


Rainbow Signature - the quantum resistant signature based on Multivariable Polynomial Signature Scheme

Unbalanced Oil and Vinegar (UOV) is a multi-disciplinary team of experts in the field of oil and vinegar. One of the oldest and most well researched signature schemes in the field of variable cryptography. It was designed by J. Patarin in 1997 and has withstood more than two decades of cryptanalysis. The UOV scheme is a very simple, smalls and fast signature. However, the main drawback of UOV is the large public key, which will not be conducive to the development of block practice technology.

The rainbow signature is an improvement on the oil and vinegar signature which increased the efficiency of unbalanced oil and vinegar. The basic concept is a multi-layered structure and generalization of oil and vinegar.


PQC - Post Quantum Cryptography

The public key cryptosystem was a breakthrough in modern cryptography in the late 1970s. It has become an increasingly important part of our cryptography communications network over The Internet and other communication systems rely heavily on the Diffie-Hellman key exchange, RSA encryption, and the use of the DSA, ECDSA or related algorithms for numerical signatures. The security of these cryptosystems depends on the difficulty level of number theory problems such as integer decomposition and discrete logarithm problems. In 1994, Peter Shor demonstrated that quantum computers can solve all these problems in polynomial time, which made this security issue related to the cryptosystems theory irrelevant. This development is known as the "post-quantum cryptography" (PQC)

In August 2015, the U.S. National Security Agency (NSA) released an announcement regarding its plans to transition to quantum-resistant algorithms. In December 2016, the National Institute of Standards and Technology (NIST) announced a call for proposals for quantum-resistant algorithms. The deadline was November 30, 2017, which also included the rainbow signatures used for ABCMint.
submitted by WrapBeautiful to ABCMint [link] [comments]

ECDSA In Bitcoin

Digital signatures are considered the foundation of online sovereignty. The advent of public-key cryptography in 1976 paved the way for the creation of a global communications tool – the Internet, and a completely new form of money – Bitcoin. Although the fundamental properties of public-key cryptography have not changed much since then, dozens of different open-source digital signature schemes are now available to cryptographers.

How ECDSA was incorporated into Bitcoin

When Satoshi Nakamoto, a mystical founder of the first crypto, started working on Bitcoin, one of the key points was to select the signature schemes for an open and public financial system. The requirements were clear. An algorithm should have been widely used, understandable, safe enough, easy, and, what is more important, open-sourced.
Of all the options available at that time, he chose the one that met these criteria: Elliptic Curve Digital Signature Algorithm, or ECDSA.
At that time, native support for ECDSA was provided in OpenSSL, an open set of encryption tools developed by experienced cipher banks in order to increase the confidentiality of online communications. Compared to other popular schemes, ECDSA had such advantages as:
These are extremely useful features for digital money. At the same time, it provides a proportional level of security: for example, a 256-bit ECDSA key has the same level of security as a 3072-bit RSA key (Rivest, Shamir и Adleman) with a significantly smaller key size.

Basic principles of ECDSA

ECDSA is a process that uses elliptic curves and finite fields to “sign” data in such a way that third parties can easily verify the authenticity of the signature, but the signer himself reserves the exclusive opportunity to create signatures. In the case of Bitcoin, the “data” that is signed is a transaction that transfers ownership of bitcoins.
ECDSA has two separate procedures for signing and verifying. Each procedure is an algorithm consisting of several arithmetic operations. The signature algorithm uses the private key, and the verification algorithm uses only the public key.
To use ECDSA, such protocol as Bitcoin must fix a set of parameters for the elliptic curve and its finite field, so that all users of the protocol know and apply these parameters. Otherwise, everyone will solve their own equations, which will not converge with each other, and they will never agree on anything.
For all these parameters, Bitcoin uses very, very large (well, awesomely incredibly huge) numbers. It is important. In fact, all practical applications of ECDSA use huge numbers. After all, the security of this algorithm relies on the fact that these values are too large to pick up a key with a simple brute force. The 384-bit ECDSA key is considered safe enough for the NSA's most secretive government service (USA).

Replacement of ECDSA

Thanks to the hard work done by Peter Wuille (a famous cryptography specialist) and his colleagues on an improved elliptical curve called secp256k1, Bitcoin's ECDSA has become even faster and more efficient. However, ECDSA still has some shortcomings, which can serve as a sufficient basis for its complete replacement. After several years of research and experimentation, a new signature scheme was established to increase the confidentiality and efficiency of Bitcoin transactions: Schnorr's digital signature scheme.
Schnorr's signature takes the process of using “keys” to a new level. It takes only 64 bytes when it gets into the block, which reduces the space occupied by transactions by 4%. Since transactions with the Schnorr signature are the same size, this makes it possible to pre-calculate the total size of the part of the block that contains such signatures. A preliminary calculation of the block size is the key to its safe increase in the future.
Keep up with the news of the crypto world at CoinJoy.io Follow us on Twitter and Medium. Subscribe to our YouTube channel. Join our Telegram channel. For any inquiries mail us at [[email protected]](mailto:[email protected]).
submitted by CoinjoyAssistant to Bitcoin [link] [comments]

After power outage cannot unlock LND wallet... TLS certs?

Hey y'all I can't figure this one out. I'm running a raspibolt node that followed Stadicus tutorial since February 2019. I keep it up to date often, currently running LND 10.0 , I last checked it a week ago after a power outage and all was well.
there was ANOTHER power outage last night (stormy season) and I had to restart everything. The bitcoin node is up and running, caught up on the chain. But now I can't unlock my LND wallet or access it through ZAP desktop. I get the error when unlocking and inputting my wallet pwd:
[lncli] rpc error: code = Unavailable desc = all SubConns are in TransientFailure, latest connection error: connection error: desc = "transport: authentication handshake failed: x509: certificate signed by unknown authority (possibly because of \"x509: ECDSA verification failure\" while trying to verify candidate authority certificate 
That led me to some threads about the TLS certs possibly having expired after some ~14 months. So I removed them, it created new ones after a restart. As you can see in the LND directory:
drwxr-xr-x 4 bitcoin bitcoin 4096 Jun 23 19:51 . drwxr-xr-x 5 bitcoin bitcoin 4096 Mar 20 13:17 .. drwx------ 4 bitcoin bitcoin 4096 Feb 7 2019 data -rw-r--r-- 1 bitcoin bitcoin 490 May 27 2019 lnd.conf drwx------ 3 bitcoin bitcoin 4096 Feb 7 2019 logs -rw-r--r-- 1 bitcoin bitcoin 0 Feb 8 2019 test -rw-r--r-- 1 bitcoin bitcoin 778 Jun 23 19:51 tls.cert -rw------- 1 bitcoin bitcoin 227 Jun 23 19:51 tls.key 
They mentioned they solved it by copying the new TLS certs to a "different location" but do not specify where they copied them to. Stadicus guide has a few lines about pointing the admin acct to the TLS certs but nothing happens. troubleshooting shows the symbolic links are working fine. And, of course they were working for 16 months before today.
Any ideas or thoughts?
submitted by mabezard to lightningnetwork [link] [comments]

[Tenant - NY] Qualifying for rent based on Bitcoin assets

I was an early adopter of Bitcoin and my small initial investment has luckily appreciated to the point where I no longer need to work. I'm trying to move to a high-end rental property owned by a mom & pop landlord with a few properties around town.
Of course because of the price tag, especially during the current environment, they're very strict about making sure potential tenants are able to afford the rent. No problem there. My crypto holdings could easily cover the lease for several decades. Normally I suppose it's quite rare for rental tenants to have large asset holdings. So, already this is kind of an unusual situation, as they're more geared for verifying income.
But the good news is they do have a procedure for qualifying tenants based on assets. I'm not sure if they've used it before... But anyway it requires that tenants have 40 times the monthly rent in liquid assets. No problem, I've got *way* more than that. They say all they require is seeing three months of financial statements.
Uhh... The whole point of Bitcoin is that it isn't centralized inside a financial institution. I tried to explain, over the phone to the nice older lady landlord, how the blockchain works, and the basics of public-private encryption. I explained how it's actually very easy to prove ownership of my Bitcoin holdings. All I have to do is give her the address of my holdings, and prove ownership by signing a message with the corresponding ECDSA private keys. At that point all she has to do is check the latest mined block to verify that it contains enough BTC to satisfy her requirements.
I don't see what the problem is here. Unlike sending copies of bank statements, which could easily be forged, this method is *far* more reliable and is literally cryptographically secure. She's acting like I'm some sort of lunatic, when she implicitly trusts the same crypto algorithms 100 times a day in her online banking, shopping and messages.
Anyway, has anyone else been in this position? Either from the tenant or landlord side? I understand cryptocurrency is new technology, but by now surely people must realize Bitcoin isn't some made up fairy dust. I could just move on to a different property, but feel like I'd end up hitting the same wall. Any suggestions for proving to landlords that I'm quite far from a financial risk?
submitted by throwawayTenant2021 to Landlord [link] [comments]

No, your Bitcoin is not at risk from quantum computing. You got played.

The claim: Quantum computers can hack bitcoin and its right around the corner.
Reality:
There is no known way that quantum computers can break SHA256 (only the signing elliptic curve/ECDSA). So cold wallets will always be safe (this means you have not made an outgoing transaction in that wallet)
This also means you will always be safe in actively making transactions as long as wallet providers provide the functionality to constantly move your funds to a new address on each transaction (this already exists in several wallets).
There is a larger discussion on upgrading bitcoin, the fact that quantum computers are not even close to being able to crack ECDSA, etc. But I'm just going to leave it at what I said above. Your Bitcoin is not at risk from quantum computing.
 
The fud campaigns on quantum computing has been organized by traders half a dozen times over the past 5 years at the end of consolidation triangles, which is exactly what happened this time.
submitted by Trident1000 to CryptoCurrency [link] [comments]

RiB Newsletter #12 – ZK-Rustups

This month, what strikes us most is the proliferation of Rust cryptography, and especially zero-knowledge proof, projects. Even blockchains that aren’t primarily implemented in Rust are increasingly looking to Rust for their crypto. So many of these are springing up that we’ve lost track, so we spent some time doing a survey of the world of Rust crypto and zero-knowledge proofs, and what we found kind of blew us away! For Rust blockchain developers there are an overwhelming number of choices for their crypto building blocks. Here are some of them.
By a rough counting, 13 of the top 50 blockchains by market cap are using Rust in some way, whether primary implementations, alternate or unofficial implementanions, libraries, support code, or research projects. Those projects are: Bitcoin, Ethereum, Bitcoin Cash, Cardano, Stellar, Crypto.com, Ethereum Classic, IOTA, Zcash, Ontology, 0x, Algorand, Qtum. While reviewing these it’s notable that while an increasing number of blockchain projects are using Rust, few of the top projects are primarily implemented in Rust (the exception being Crypto.com). Yet, of course.
This month Rust-behemoth Polkadot launched their mainnet. Congrats to Parity and Polkadot contributors.


https://rustinblockchain.org/newsletters/2020-06-03-zk-rustups/
submitted by Aimeedeer to rust [link] [comments]

Google and NASA have reached quantum supremacy in a year collaboration. What does it mean for future blockchain security?

As can be read in this article. Although quantum supremacy simply means that at least 1 specific problem has been proven to be solved by a quantum computer that can't be solved (in a realistic timeframe) by any existing classical computer, it is a very important milestone. Many have been skeptical on crossing this milestone at all.
Supremacy does not mean that current cryptography is at risk tomorrow. It does however prove quantum computing is real, and has advantage over classical computers in certain tasks as has always been thought. For blockchain this means that in the future, Shor's algorithm could be used to break ECDSA, the signature scheme that is used in most blockchain. This signature scheme can be upgraded to a quantum resistant signature scheme. It does come with specific challenges though. As opposed to banks, websites, government systems, email services etc, blockchain is decentralized. That makes the following challenges exclusive blockchain challenges:
Consider the full analysis on this subject here
Blockchains that implement quantum resistance from the very beginning, from genesis block, will not face these challenges. See for example QRL which has launched over a year ago.
submitted by QRCollector to CryptoCurrency [link] [comments]

Bitcoin (BTC)A Peer-to-Peer Electronic Cash System.

Bitcoin (BTC)A Peer-to-Peer Electronic Cash System.
  • Bitcoin (BTC) is a peer-to-peer cryptocurrency that aims to function as a means of exchange that is independent of any central authority. BTC can be transferred electronically in a secure, verifiable, and immutable way.
  • Launched in 2009, BTC is the first virtual currency to solve the double-spending issue by timestamping transactions before broadcasting them to all of the nodes in the Bitcoin network. The Bitcoin Protocol offered a solution to the Byzantine Generals’ Problem with a blockchain network structure, a notion first created by Stuart Haber and W. Scott Stornetta in 1991.
  • Bitcoin’s whitepaper was published pseudonymously in 2008 by an individual, or a group, with the pseudonym “Satoshi Nakamoto”, whose underlying identity has still not been verified.
  • The Bitcoin protocol uses an SHA-256d-based Proof-of-Work (PoW) algorithm to reach network consensus. Its network has a target block time of 10 minutes and a maximum supply of 21 million tokens, with a decaying token emission rate. To prevent fluctuation of the block time, the network’s block difficulty is re-adjusted through an algorithm based on the past 2016 block times.
  • With a block size limit capped at 1 megabyte, the Bitcoin Protocol has supported both the Lightning Network, a second-layer infrastructure for payment channels, and Segregated Witness, a soft-fork to increase the number of transactions on a block, as solutions to network scalability.

https://preview.redd.it/s2gmpmeze3151.png?width=256&format=png&auto=webp&s=9759910dd3c4a15b83f55b827d1899fb2fdd3de1

1. What is Bitcoin (BTC)?

  • Bitcoin is a peer-to-peer cryptocurrency that aims to function as a means of exchange and is independent of any central authority. Bitcoins are transferred electronically in a secure, verifiable, and immutable way.
  • Network validators, whom are often referred to as miners, participate in the SHA-256d-based Proof-of-Work consensus mechanism to determine the next global state of the blockchain.
  • The Bitcoin protocol has a target block time of 10 minutes, and a maximum supply of 21 million tokens. The only way new bitcoins can be produced is when a block producer generates a new valid block.
  • The protocol has a token emission rate that halves every 210,000 blocks, or approximately every 4 years.
  • Unlike public blockchain infrastructures supporting the development of decentralized applications (Ethereum), the Bitcoin protocol is primarily used only for payments, and has only very limited support for smart contract-like functionalities (Bitcoin “Script” is mostly used to create certain conditions before bitcoins are used to be spent).

2. Bitcoin’s core features

For a more beginner’s introduction to Bitcoin, please visit Binance Academy’s guide to Bitcoin.

Unspent Transaction Output (UTXO) model

A UTXO transaction works like cash payment between two parties: Alice gives money to Bob and receives change (i.e., unspent amount). In comparison, blockchains like Ethereum rely on the account model.
https://preview.redd.it/t1j6anf8f3151.png?width=1601&format=png&auto=webp&s=33bd141d8f2136a6f32739c8cdc7aae2e04cbc47

Nakamoto consensus

In the Bitcoin network, anyone can join the network and become a bookkeeping service provider i.e., a validator. All validators are allowed in the race to become the block producer for the next block, yet only the first to complete a computationally heavy task will win. This feature is called Proof of Work (PoW).
The probability of any single validator to finish the task first is equal to the percentage of the total network computation power, or hash power, the validator has. For instance, a validator with 5% of the total network computation power will have a 5% chance of completing the task first, and therefore becoming the next block producer.
Since anyone can join the race, competition is prone to increase. In the early days, Bitcoin mining was mostly done by personal computer CPUs.
As of today, Bitcoin validators, or miners, have opted for dedicated and more powerful devices such as machines based on Application-Specific Integrated Circuit (“ASIC”).
Proof of Work secures the network as block producers must have spent resources external to the network (i.e., money to pay electricity), and can provide proof to other participants that they did so.
With various miners competing for block rewards, it becomes difficult for one single malicious party to gain network majority (defined as more than 51% of the network’s hash power in the Nakamoto consensus mechanism). The ability to rearrange transactions via 51% attacks indicates another feature of the Nakamoto consensus: the finality of transactions is only probabilistic.
Once a block is produced, it is then propagated by the block producer to all other validators to check on the validity of all transactions in that block. The block producer will receive rewards in the network’s native currency (i.e., bitcoin) as all validators approve the block and update their ledgers.

The blockchain

Block production

The Bitcoin protocol utilizes the Merkle tree data structure in order to organize hashes of numerous individual transactions into each block. This concept is named after Ralph Merkle, who patented it in 1979.
With the use of a Merkle tree, though each block might contain thousands of transactions, it will have the ability to combine all of their hashes and condense them into one, allowing efficient and secure verification of this group of transactions. This single hash called is a Merkle root, which is stored in the Block Header of a block. The Block Header also stores other meta information of a block, such as a hash of the previous Block Header, which enables blocks to be associated in a chain-like structure (hence the name “blockchain”).
An illustration of block production in the Bitcoin Protocol is demonstrated below.

https://preview.redd.it/m6texxicf3151.png?width=1591&format=png&auto=webp&s=f4253304912ed8370948b9c524e08fef28f1c78d

Block time and mining difficulty

Block time is the period required to create the next block in a network. As mentioned above, the node who solves the computationally intensive task will be allowed to produce the next block. Therefore, block time is directly correlated to the amount of time it takes for a node to find a solution to the task. The Bitcoin protocol sets a target block time of 10 minutes, and attempts to achieve this by introducing a variable named mining difficulty.
Mining difficulty refers to how difficult it is for the node to solve the computationally intensive task. If the network sets a high difficulty for the task, while miners have low computational power, which is often referred to as “hashrate”, it would statistically take longer for the nodes to get an answer for the task. If the difficulty is low, but miners have rather strong computational power, statistically, some nodes will be able to solve the task quickly.
Therefore, the 10 minute target block time is achieved by constantly and automatically adjusting the mining difficulty according to how much computational power there is amongst the nodes. The average block time of the network is evaluated after a certain number of blocks, and if it is greater than the expected block time, the difficulty level will decrease; if it is less than the expected block time, the difficulty level will increase.

What are orphan blocks?

In a PoW blockchain network, if the block time is too low, it would increase the likelihood of nodes producingorphan blocks, for which they would receive no reward. Orphan blocks are produced by nodes who solved the task but did not broadcast their results to the whole network the quickest due to network latency.
It takes time for a message to travel through a network, and it is entirely possible for 2 nodes to complete the task and start to broadcast their results to the network at roughly the same time, while one’s messages are received by all other nodes earlier as the node has low latency.
Imagine there is a network latency of 1 minute and a target block time of 2 minutes. A node could solve the task in around 1 minute but his message would take 1 minute to reach the rest of the nodes that are still working on the solution. While his message travels through the network, all the work done by all other nodes during that 1 minute, even if these nodes also complete the task, would go to waste. In this case, 50% of the computational power contributed to the network is wasted.
The percentage of wasted computational power would proportionally decrease if the mining difficulty were higher, as it would statistically take longer for miners to complete the task. In other words, if the mining difficulty, and therefore targeted block time is low, miners with powerful and often centralized mining facilities would get a higher chance of becoming the block producer, while the participation of weaker miners would become in vain. This introduces possible centralization and weakens the overall security of the network.
However, given a limited amount of transactions that can be stored in a block, making the block time too longwould decrease the number of transactions the network can process per second, negatively affecting network scalability.

3. Bitcoin’s additional features

Segregated Witness (SegWit)

Segregated Witness, often abbreviated as SegWit, is a protocol upgrade proposal that went live in August 2017.
SegWit separates witness signatures from transaction-related data. Witness signatures in legacy Bitcoin blocks often take more than 50% of the block size. By removing witness signatures from the transaction block, this protocol upgrade effectively increases the number of transactions that can be stored in a single block, enabling the network to handle more transactions per second. As a result, SegWit increases the scalability of Nakamoto consensus-based blockchain networks like Bitcoin and Litecoin.
SegWit also makes transactions cheaper. Since transaction fees are derived from how much data is being processed by the block producer, the more transactions that can be stored in a 1MB block, the cheaper individual transactions become.
https://preview.redd.it/depya70mf3151.png?width=1601&format=png&auto=webp&s=a6499aa2131fbf347f8ffd812930b2f7d66be48e
The legacy Bitcoin block has a block size limit of 1 megabyte, and any change on the block size would require a network hard-fork. On August 1st 2017, the first hard-fork occurred, leading to the creation of Bitcoin Cash (“BCH”), which introduced an 8 megabyte block size limit.
Conversely, Segregated Witness was a soft-fork: it never changed the transaction block size limit of the network. Instead, it added an extended block with an upper limit of 3 megabytes, which contains solely witness signatures, to the 1 megabyte block that contains only transaction data. This new block type can be processed even by nodes that have not completed the SegWit protocol upgrade.
Furthermore, the separation of witness signatures from transaction data solves the malleability issue with the original Bitcoin protocol. Without Segregated Witness, these signatures could be altered before the block is validated by miners. Indeed, alterations can be done in such a way that if the system does a mathematical check, the signature would still be valid. However, since the values in the signature are changed, the two signatures would create vastly different hash values.
For instance, if a witness signature states “6,” it has a mathematical value of 6, and would create a hash value of 12345. However, if the witness signature were changed to “06”, it would maintain a mathematical value of 6 while creating a (faulty) hash value of 67890.
Since the mathematical values are the same, the altered signature remains a valid signature. This would create a bookkeeping issue, as transactions in Nakamoto consensus-based blockchain networks are documented with these hash values, or transaction IDs. Effectively, one can alter a transaction ID to a new one, and the new ID can still be valid.
This can create many issues, as illustrated in the below example:
  1. Alice sends Bob 1 BTC, and Bob sends Merchant Carol this 1 BTC for some goods.
  2. Bob sends Carols this 1 BTC, while the transaction from Alice to Bob is not yet validated. Carol sees this incoming transaction of 1 BTC to him, and immediately ships goods to B.
  3. At the moment, the transaction from Alice to Bob is still not confirmed by the network, and Bob can change the witness signature, therefore changing this transaction ID from 12345 to 67890.
  4. Now Carol will not receive his 1 BTC, as the network looks for transaction 12345 to ensure that Bob’s wallet balance is valid.
  5. As this particular transaction ID changed from 12345 to 67890, the transaction from Bob to Carol will fail, and Bob will get his goods while still holding his BTC.
With the Segregated Witness upgrade, such instances can not happen again. This is because the witness signatures are moved outside of the transaction block into an extended block, and altering the witness signature won’t affect the transaction ID.
Since the transaction malleability issue is fixed, Segregated Witness also enables the proper functioning of second-layer scalability solutions on the Bitcoin protocol, such as the Lightning Network.

Lightning Network

Lightning Network is a second-layer micropayment solution for scalability.
Specifically, Lightning Network aims to enable near-instant and low-cost payments between merchants and customers that wish to use bitcoins.
Lightning Network was conceptualized in a whitepaper by Joseph Poon and Thaddeus Dryja in 2015. Since then, it has been implemented by multiple companies. The most prominent of them include Blockstream, Lightning Labs, and ACINQ.
A list of curated resources relevant to Lightning Network can be found here.
In the Lightning Network, if a customer wishes to transact with a merchant, both of them need to open a payment channel, which operates off the Bitcoin blockchain (i.e., off-chain vs. on-chain). None of the transaction details from this payment channel are recorded on the blockchain, and only when the channel is closed will the end result of both party’s wallet balances be updated to the blockchain. The blockchain only serves as a settlement layer for Lightning transactions.
Since all transactions done via the payment channel are conducted independently of the Nakamoto consensus, both parties involved in transactions do not need to wait for network confirmation on transactions. Instead, transacting parties would pay transaction fees to Bitcoin miners only when they decide to close the channel.
https://preview.redd.it/cy56icarf3151.png?width=1601&format=png&auto=webp&s=b239a63c6a87ec6cc1b18ce2cbd0355f8831c3a8
One limitation to the Lightning Network is that it requires a person to be online to receive transactions attributing towards him. Another limitation in user experience could be that one needs to lock up some funds every time he wishes to open a payment channel, and is only able to use that fund within the channel.
However, this does not mean he needs to create new channels every time he wishes to transact with a different person on the Lightning Network. If Alice wants to send money to Carol, but they do not have a payment channel open, they can ask Bob, who has payment channels open to both Alice and Carol, to help make that transaction. Alice will be able to send funds to Bob, and Bob to Carol. Hence, the number of “payment hubs” (i.e., Bob in the previous example) correlates with both the convenience and the usability of the Lightning Network for real-world applications.

Schnorr Signature upgrade proposal

Elliptic Curve Digital Signature Algorithm (“ECDSA”) signatures are used to sign transactions on the Bitcoin blockchain.
https://preview.redd.it/hjeqe4l7g3151.png?width=1601&format=png&auto=webp&s=8014fb08fe62ac4d91645499bc0c7e1c04c5d7c4
However, many developers now advocate for replacing ECDSA with Schnorr Signature. Once Schnorr Signatures are implemented, multiple parties can collaborate in producing a signature that is valid for the sum of their public keys.
This would primarily be beneficial for network scalability. When multiple addresses were to conduct transactions to a single address, each transaction would require their own signature. With Schnorr Signature, all these signatures would be combined into one. As a result, the network would be able to store more transactions in a single block.
https://preview.redd.it/axg3wayag3151.png?width=1601&format=png&auto=webp&s=93d958fa6b0e623caa82ca71fe457b4daa88c71e
The reduced size in signatures implies a reduced cost on transaction fees. The group of senders can split the transaction fees for that one group signature, instead of paying for one personal signature individually.
Schnorr Signature also improves network privacy and token fungibility. A third-party observer will not be able to detect if a user is sending a multi-signature transaction, since the signature will be in the same format as a single-signature transaction.

4. Economics and supply distribution

The Bitcoin protocol utilizes the Nakamoto consensus, and nodes validate blocks via Proof-of-Work mining. The bitcoin token was not pre-mined, and has a maximum supply of 21 million. The initial reward for a block was 50 BTC per block. Block mining rewards halve every 210,000 blocks. Since the average time for block production on the blockchain is 10 minutes, it implies that the block reward halving events will approximately take place every 4 years.
As of May 12th 2020, the block mining rewards are 6.25 BTC per block. Transaction fees also represent a minor revenue stream for miners.
submitted by D-platform to u/D-platform [link] [comments]

Dev++ 01-01-EN  Foundational Math, ECDSA and Transactions - Jimy Song Unencrypted RPC & Multiparty ECDSA ~ Bitcoin op Tech #18 Hack Non spendable Bitcoin Today Breaking ECDSA (Elliptic Curve Cryptography) - rhme2 ... 2014 02 14 - Elliptic Curve Digital Signature Algorithm in the SageMathCloud

Digital signatures are considered the foundation of online sovereignty. The advent of public-key cryptography in 1976 paved the way for the creation of a global communications tool – the Internet, and a completely new form of money – Bitcoin. Although the fundamental properties of public-key cryptography have not changed... What is the task of ECDSA? Bitcoin-based technology reinterprets the concept of property rights. In the traditional sense, owning something - a house, a sum of money, etc. - means either storing (physically / legally) this object in person, or transferring it to a trusted structure (for example, a bank) for safekeeping. In the case of bitcoin, everything is different. Bitcoins themselves are ... The security world has fallen head over heals for Elliptic Curve Cryptography (ECC) methods, and ECDSA (Elliptic Curve Digital Signature Algorithm) is News Breaking Bitcoin News Die Abkürzung steht für “Elliptic Curve Digital Signature Algorithm”. Er wird verwendet, um sicherzustellen, dass Eigentum nur von seinem rechtmäßigen Besitzer verwendet werden kann. Im Falle von Bitcoin wird mit Hilfe des ECDSA-Algorithmus ein Public / Private Key Pair berechnet. How ECDSA was incorporated into Bitcoin. When Satoshi Nakamoto, a mystical founder of the first crypto, started working on Bitcoin, one of the key points was to select the signature schemes for an open and public financial system. The requirements were clear. An algorithm should have been widely used, understandable, safe enough, easy, and ...

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Dev++ 01-01-EN Foundational Math, ECDSA and Transactions - Jimy Song

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