The level of security provided by SMS pales in comparison to authenticators or physical security keys, CertiK's Jesse Leclere says in an interview.
Blockchain and cryptocurrency security is essential. After all, an autonomous monetary system can only go so far if it can be easily exploited by hackers, rendered inoperable through a mere software bug, or shut down by the powers that be.
Bitcoin’s unique security model is possible through a clever alignment of incentives between the network’s stakeholders — miners, developers, merchants and users. Any attempt to capture the network or reorganize the chain would result in the value of the currency plummeting and thus render any intended benefit completely worthless. The cost of being a bad actor significantly outweighs any possible reward.
Thus, it is in every participant’s best interest to simply play by the rules and collectively work toward the maturation and adoption of the Bitcoin (BTC) ecosystem.
Since its launch in January 2009, the Bitcoin network has never been compromised at the base layer and has had virtually 0% downtime, making it one of the most secure computer systems on the planet.
Cryptocurrency wallets, applications and exchanges that build products and services atop Bitcoin and other crypto networks, however, have frequently been the target of hacks and scams, highlighting the ongoing need to establish best practices around cybersecurity and operational security.
Multi-party computation, or MPC, is a subset of cryptography that distributes computation across multiple parties.749
The news comes a couple of weeks after research firm Delphi Labs announced it would shift the focus of its research and development efforts toward the Cosmos ecosystem.4442
The state Department of Financial Protection & Innovation says the crypto-interest account is an unqualified security; Nexo has limited the accounts since the BlockFi settlement with the SEC.1706
Large financial institutions are getting involved in digital assets by investing capital, time and effort into custody technology solutions.2552
The creator of the Nakamoto Terminal will help the government and businesses understand the interaction of traditional and digital financial systems and track money into and out of blockchains.1704
XRP attracts buyers after the hope of a positive court ruling triggers a 25% rally above a key longer term resistance level.51591
The AvengerDAO was developed in association with some of the leading blockchain security analy firms and top DeFi projects in the crypto ecosystem.2669
Trust Wallet CEO says the current bear market could provide an opportunity for the Web3 industry to address consumer concerns before the next bull market.4853
Ripple argued that XRP profits came from “market forces of supply and demand” rather than any contract between Ripple and XRP tokenholders.28320
Though he did not specify any particular crypto, SEC chair Gary Gensler said proof-of-stake cryptocurrencies could be subject to securities laws.12718
The crypto spokespeople testified before the Senate Agriculture Committee on Thursday with analyses of the bill’s strengths and recommendations for its weaknesses.1194
Iran has decided to legalize the use of crypto in cross-border payments, which could impact how some countries view crypto.4310
The security researcher said that while PoS isn’t “theoretically” as secure as PoW, he admits it still has “sufficient practical security.”7977
The Metaverse is fraught with risks. Implementing effective safeguards — both physical and virtual — will be critical to entrepreneurs seeking to do business there.2710