What is a simple example of public-private key cryptography that I can do on paper to better understand cryptography?

I want to understand how public-private key cryptography works, as the "it's easy to encrypt but hard for an attacker to decrypt even if they know the public key" part is confusing to me, and I think being able to do the math myself of a very very simple public-private key encryption method (as in so easy to crack that you can do it with pen and paper) would help me understand better.

Any ideas?

And if this isn't the right sub, would someone be able to point me in the right direction? Thanks. :)

👍︎ 7
💬︎
📅︎ Jan 18 2018
🚨︎ report
Isn't public key cryptography an example of a zero knowledge proof? I can prove I have the private key without revealing it?
👍︎ 6
📰︎ r/zec
💬︎
📅︎ Sep 19 2017
🚨︎ report
What is Public Key Cryptography? (with Python examples!) twilio.com/blog/what-is-p…
👍︎ 3
📰︎ r/Python
💬︎
👤︎ u/kerobinson
📅︎ Sep 23 2018
🚨︎ report
Cryptography: Can somebody give a good example of a very simple/small public key that can only be used to encrypt but not decrypt a message?

I know about basic encryption. But I don't understand how I could encrypt with one key (public key) and won't be able to decrypt with the same key reversed. Very simple example:

  1. A or any other character is encrypted as it's ASCII code, which is 65 for A. (A->65)

  2. Add 5 to the ASCII code. (=70 for A)

If I know this encryption method, then, to decrypt it, I just have to do reverse the process, i.e.

  1. Code Given Minus 5 (70-5)

  2. and the result treated as an ASCII code.(65->A)

I have read around and it seems that this is symmetric key algorithm (am I right?) and the other is asymmetric key algorithm. The question is, can somebody tell me an example as simple as the above one (slightly more complex won't hurt) for asymmetric key algorithm?

I am assuming that there will be a key involved (encode as ascii, add 5) which cannot be reverse-engineered (subtract 5, decode as ascii).

👍︎ 15
💬︎
👤︎ u/snh72
📅︎ Jan 04 2012
🚨︎ report
Public Key Cryptography - Intro Modular Question

I am attempting to work through the basic public key cryptography example listed below:

The Details:

Bob chooses two very large (distinct) prime numbers p and q; n=pq, m= lcm {p−1, q−1} (lcm is the least common multiple ); Bob chooses r, where r>1 and r is coprime with m (i.e. r and m have no factors in common);

Bob then finds the unique s such that rs≡1(mod m)

Bob now tells everyone what n and r are, but does NOT say what p, q or s are.

Alice wants to send the message M (a single number) where M and n are coprime and 0<M<n.

Alice finds Mc, where Mc≡Mr(modn), and sends the message Mc to Bob.

Bob receives the message Mc from Alice and decodes it.

Now Bob knows p,q,m,n,r,s, and he uses these to decode the message Mc from Alice so as to find M. To do this Bob uses the theorem that (Mc)s≡M(modn)

In the following example we use small numbers so that you can work through it using a calculator. In practice the numbers would be very big.

An example

(1) Alice wishes to send the message M to Bob

(2) Bob chooses p=17, q=23; so n=391, m=176, r=3 and s=59.

(3) Bob then tells Alice that n=391 and r=3.

(4) Note: It does not matter how many people have this information, they still won't be able to find s.

(5) Alice computes Mc and finds that Mc=180.

(5) Bob receives the coded message 180 from Alice

(6) Bob now calculates M≡18059(mod391), and finds Alice's secret message M. Can you find it?

In order to find Alice's message you may need some help from the following section.

This example is also listed at the site: https://nrich.maths.org/2200

My problem lies in these two specific lines:

Bob then finds the unique s such that rs≡1(mod m)

(2) Bob chooses p=17, q=23; so n=391, m=176, r=3 and s=59.

As the calculated value of s is given as 59 and r = 3 I believe I am misreading the formula.

Wouldn't "1 mod m" always equal 1 so long as m > 1, as m would divide into 1 zero times, leaving a remainder of 1/m? Thus rs = 1 mod 176, being (3)(s) = 1 mod 176, being 3s = 1, being s = 1/3.

Or is the correct reading of the formula "rs = 1 with a remainder of m"? If this is the case, is " s = (m + 1) / r " not always true for the given formula "rs = 1 (mod m)"?

I appreciate any clarification. *Solved, see comments.

👍︎ 2
💬︎
👤︎ u/jolo1989
📅︎ Feb 13 2018
🚨︎ report
How Ethereum can become a multi-trillion dollar asset: A summary of Bankless Episode #57 Ultra Sound Money

Preface

The following is my written summary of Bankless Episode #57 Ultra Sound Money with Justin Drake.

Please, please do yourself a favor and make some time to listen to the full episode. For brevity's sake, I've skipped over parts of the conversation and greatly condensed others. I've also tried to simplify some of the analogies used - the engine metaphor is far from perfect, but I personally find it more useful than not.

The majority of the content comes from Justin, but I don't directly attribute any of the words to any one person (aside from 2-3 instances). I've also expounded on some of the ideas, substituted in more accurate figures and added external references, when possible. As such, my summary is not intended to directly reflect the opinions of Justin, Ryan or David. Also, you can read Vitalik's reaction to the episode, which includes a few critiques as well as points of support, and you can listen to objections that a bitcoiner had.

I want to express my appreciation to u/davidahoffman, u/ryanseanadams and u/bobthesponge1 for having this conversation and for everything the three of you are doing for Ethereum! I've tried my best to condense a 2.5 hour podcast into a 25 minute read, but nothing will be as good as just listening to the episode yourself :)

&nbsp;

From the stone age to science fiction

From listening to Justin's previous podcast appearance, #49 Moon Math: The Bull Case for Cryptography, we know that we have made huge improvements in cryptography, but have we also made equivalent advancements in the nascent field of crypto economics?

Currently, we still live in the age of gold-driven economics, in both a literal and metaphorical sense. Bitcoin has taken the approach to mimic gold and its economic properties as much as possible. This can be thought of as skeuomorphic economic design - where a digital object copies their physical-world counterparts. Since gold is a scarce natural resource, Satoshi thought it was a good idea to make Bitcoin a scarce digital resource by implementing an arbitrary 21 million bitcoin supply cap.

However, when you take a clean-slate approach, new p

... keep reading on reddit ➡

👍︎ 491
📰︎ r/ethfinance
💬︎
📅︎ Mar 30 2021
🚨︎ report
PASSED SEC+ (My Study Guide + Tips)

As someone who has been reading every single "I Passed!" post on here I'm super excited to finally be making one myself. With that being said I'm going to try to make this post as informational as some of the ones that I read that really motivated me and gave me some kind of assurance about this scary exam. It's gonna be long.. Lets do it:

My Test

  • 80 multiple choice and 5 PBQ
  • I passed with a score of 788 (750 required to pass)
  • I took it at a PearsonVUE Test Center instead of at home because:
    • I read horror stories of rude proctors failing people for stupid reasons
    • My room is probably too cluttered.. I have other systems and pets in here
    • I felt like the environment at a test center would put me "in the zone" or be less distracted (This was so true! Getting ready and physically leaving the house really put me in a good mindset for testing)
  • I skipped the PBQ's like everyone says to
  • I had 20 minutes of time left over to check my answers
  • The survey at the end felt like eternity

So when I woke up on exam day, I had a feeling that I could fail. I was only scoring 70-75 on my practice exams the day before which was really discouraging. I started gaining confidence once I was taking the exam though. Most people say that while they're taking the exam they felt like they were failing, but I was kind of gaining confidence with each question that I felt I knew the correct answer. I'd say there was only like 5 multiple choice questions that I just couldn't figure out and I only felt confident on 4/5 PBQ's (I'm not sure if I'm allowed to share what the simulations were due to the candidate agreement, but I definitely remember all of them and can say I had no idea how to do ONE of them. I definitely failed that one)

My Studies

First I want to say one important thing: Use multiple sources for material (I cant tell you how much content Gibson touched that Messer didn't, or Messer did but Gibson didn't.. if that makes sense.) and multiple methods of ingesting it. For example, I WATCHED hours and hours of videos, I READ from multiple sources, and I LISTENED in the car.

I had to study for quite a long time because I haven't worked in cybersecurity or IT or gone to school for any of this. So I'll have to go pretty far back on my study timeline in the order that I used them.

  • Mike Meyers A+ Udemy Course & Book (yep I said A+)
    • This was my first form of studying about a year ago. I was orig
... keep reading on reddit ➡

👍︎ 190
📰︎ r/CompTIA
💬︎
📅︎ Mar 16 2021
🚨︎ report
CardanoWall - the next, second level of Proof of Existence (PoE)

For the last week, I have been actively working on improving the Proof of Existence idea on which the CardanoWall.com project is built. I also want to thank u/GnuCanoe, who encouraged me to study collision attacks with SHA algorithms in detail. I decided to switch from using the SHA-256 algorithm in the SHA-2 cryptographic hash function set to SHA3-256 in the latest SHA algorithms family. Although at the moment, the creation of collisions for SHA-256 is not feasible; nevertheless, in the future, with the development of technologies and computing power, such a threat may become real. Because there is an SHA-3 family, why not start using the current and best solution right away.

The most important update is adding a public key to the message and the electronic signature of all PoE files signed by a private key. This functionality allows you to create Proof of Existence in its classic form and also anonymously indicate the message's authorship. I set myself a goal - to make the whole process of working with keys, electronic signatures, and encryption - only in the user's browser. This can be verified by reviewing my source code or checking the browser's network activity in the Dev Tools Network tab. No private keys should be sent to the server under any circumstances. The task turned out to be quite tricky; for example, my favorite browser Firefox, for seven years now, has not been able to implement good support for working with ECDSA keys, which has long been implemented in other browsers. I had to look for other ways and make a lot of trial and error to get the result. Besides, I managed to make sure that the formats used are not tied to what browsers use, and the data is converted into popular and generally accepted standards. I love challenging and non-standard tasks the most! Now with CardanoWall, you can safely generate a new private key in PEM (PKCS8) format, save it as a file, or load an existing one. The private key is generated with the maximum security level (EC key with P-521/secp521r1 curve). When you select a file or files from your computer, the browser calculates the SHA3-256 hash for each file. The hash is signed with a private key, and an electronic signature is added in base64 format to each file's meta-data. The public key is included in the message since it allows others to verify the electronic signatures of files and make sure that signatures are valid and created with the same private key.

Suppose you are not very familiar with crypt

... keep reading on reddit ➡

👍︎ 138
📰︎ r/cardano
💬︎
👤︎ u/VicePool
📅︎ Mar 15 2021
🚨︎ report
'ABC: Learn to Count with Dracula'

(THE) WORKING PUBLIC DRAFT ( originally posted at 1:23 am UTC; March 25th, 2021 ) [ 3:23 am local ]


Being a collected summary of the mental leaps one makes - or presumes to make; or is perhaps required or intended to make - while traversing the Web of Wyrd.

This document will grow significantly and change over several days. I will be editing it in place, and adding notes over time. It's form and organization might change drastically, like a mutant strain, since this is tricky material to explain (as the developers of neural networks will tell you - it's difficult to know and describe exactly what the 'mind' is doing as it performs it's work).

Ultimately this page, after a wandering prologue, will contain a list of perspectives on (and some guiding questions as to) gematria, numerology, and lexicon (ie. spellcraft) that I have found to be valuable with regards to interpretation - and which I often find easiest to present in the forms of rhetorical questions.

In other words, an augury toolbox, which you might describe as the list of subjective presumptions, ideas and whimsical notions that comprise the personal biases I apply as I attempt to extract information from the symbolic realm.

As Neo (aka. Jonathan Harker) discovers, one cannot be told what the Matrix (code) is - the One has to see it for Oneself.

However, what Neo is (or is not) told about the Matrix may (or may not) have some bearing upon how successfully he navigates it.


My original Disclaimer to this forum, which may or may not still be valid. WHO knows?


In the cypher that we may dub Agrippa's key...

  • "ABC: Learn to count with Dracula" = 2021 jewish-latin-agrippa

Of course, in this cypher, very intuitively, A=1 and B=2 and C=3 (and so on for the first 10 letters), and thus the above spell is equivalent to...

  • "123: Learn to count with Dracula" = 2021 jewish-latin-agrippa

... .. and also (with shortened descriptor).. ...

  • "Learn to count with Dracula: 1..2..3" = 2021 agrippa
  • "Learn to count with Dracula: A..B..C" = 2021 agrippa

  • "Writings" = 2021 in the square number cypher

... .. .. Counting ABC @ 123 .. .. ...

  • .. ( "Alphabetic Codes" = 123 basic alphabetic cypher )
  • .. ( "Reveal the Code" = 123
... keep reading on reddit ➡

👍︎ 8
💬︎
📅︎ Mar 25 2021
🚨︎ report
Primer on Quantum Computing and a bit on IonQ (DMYI rumor target)

Disclosure: I am long DMYI (2500 shares) and DMYI warrants (1750 warrants), and have been for a little while pre-rumor because they were the only prospectus I could find that targeted QC specifically. I was hoping they would find a credible QC target to marge with, and they have.

Disclaimer: This is not investment advice, and I am making no recommendation for/against DMYI or IonQ. This is just meant to answer some question about QC.

I have followed the QC space in some detail for a few years, and know many of the players at some level of detail. I have my own opinions about the field, but the important thing to remember is that there is a lot of uncertainty (technical, business, use-case), but also a massive potential opportunity.

You can find some decent talks about QC at various levels from the 2020 Q2B conference, now publicly available: https://www.youtube.com/playlist?list=PLh7C25oO7PW0JeX3du76BRNOBjd6q-kOS

**Basics:**There are many resources out there if you want to learn the basics of QC, so I will leave it to you to google them. But I will highlight a few key points.

  1. Quantum computing that is practically impactful is generally seen by the majority of experts in the field as possible theoretically, though challenges remain to making QCs big enough to find practical impact. Most also seem to believe we will get there, though many do not talk with much specificity about the timing.
  2. The near-term future of QC is generally referred to ask the NISQ era (noisy, intermmediate scale quantum). Basically this just means quantum computing before large-scale error correction. This is the paper from Caltech that defined the term by John Preskill and has some good information: https://arxiv.org/abs/1801.00862
  3. The qubits that make up quantum computers are error prone given the fragile nature of the quantum states. Current state of the art systems in ion trap (IonQ, Honeywell,...) and superconducting qubits (IBM, Google, ...) have about a 0.5% chance of an error during a so-called 2-qubit gate operation. This limits the complexity of the calculation you can do in the near term. These intrinsic physical error rates should improve with time, but getting much beyond 0.01% error may be difficult in practical system (this is an open research question).
  4. This is where error correction comes in longer term. People have come up
... keep reading on reddit ➡

👍︎ 74
📰︎ r/SPACs
💬︎
👤︎ u/Artmasterx
📅︎ Feb 24 2021
🚨︎ report
Misconceptions Regarding Dogecoin FAQ V1.3

This is a revised version of my previous article. I am going to try to update frequently.

Version 1.3 has the following changes

  • Shortened some questions, removed others and added others based on feedback from the community
  • Updated some of the spelling errors and minor typos.

This information below is important. I ask that you please take the time to read this entire post before making judgment or commenting. My discord group helped me create this FAQ on the majority of the most asked questioned and misunderstandings regarding Dogecoin, into the following key points. Even if you know the answers to some of these please read the entire post. The information builds upon each other to explain some of the more questions near the end.

  1. Question: What is Dogecoin?

Answer: Dogecoin (/ˈdoʊdʒkɔɪn/ DOHJ-koyn, code: DOGE, symbol: Ð) is a cryptocurrency invented by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system that is instant, fun, and free from traditional banking fees. Dogecoin features the face of the Shiba Inu dog from the popular "Doge" meme as its logo and namesake. It was introduced on December 6, 2013, and quickly developed its own online community reaching a market capitalization of US $5,382,875,000 on January 28, 2021. [Wikipedia, 20210203]

  1. Question: Why Dogecoin?

Answer: For the Lolz. Well, not quite. Initially as a purely meme-driven alternative to the likes of Bitcoin and Litecoin, Dogecoin in-fact boasts very low transaction fees and fast transaction times, very little network congestion, and most importantly, is designed to be used as a daily means of exchange, like your morning cup of coffee. Also, it is really fun, and who doesn't like the Dog ?!

1/2 - second perspective) Question: What Is Dogecoin? And why Dogecoin?

Answer: Back a few years ago, some crazy people banded together in support of a cryptocurrency known as Dogecoin. Similar to other cryptocurrencies, Dogecoin, the people's crypto, finds itself with the support of hundreds if not thousands of individuals pushing for this currency to succeed. But why is that? Unless you have been absent from every social bubble, you may have heard of Bitcoin. For the purpose of this explanation, you will find that Bitcoin is not exactly an easy thing to equate to Dogecoin, but lets think about the criteria of a Cryptocurrency.Bitcoin did not find its foothold overnight. In fact, it took several years. A lot of people fought tooth and nail

... keep reading on reddit ➡

👍︎ 10
📰︎ r/dogecoin
💬︎
📅︎ Mar 10 2021
🚨︎ report
Asymmetric cryptosystem proposal.

This file and referenced files are on the address https://github.com/danielnager/xifrat/

The aim of this cryptosystem is to provide post-quantum asymmetric cryptography with 256-bit sizes.

We will use a substitution 16x16 table, this is one of them:

 7  9 13 10 15  2  0  6  3 12  8  4  1  5 14 11 
 1 15  6  3  9  4 11 13 10  5 14  2  7 12  8  0 
 3  0 12  1 11  8  9  5  7 13  2 14 10  6  4 15 
 4  6 15  8 13  1  5  9 14 11 10  7  2  0  3 12 
 0  3  8 15 10 12  7 14  9  2 13  5 11  4  6  1 
10 11  5  7  0 14 15 12  1  6  4  8  3 13  2  9 
 5 14 10 13  8 11  4  3  6  1 15  0 12  7  9  2 
15  1  4  0  7  6 10  2 11 14  5 13  9  8 12  3 
12  8  3  6 14  0  2 10 13  7  9 11  5  1 15  4 
13  2  7  5  4  9  8  1 12  3  0 15  6 10 11 14 
 6  4  1 12  2 15 14  7  5 10 11  9 13  3  0  8 
 9  7  2 11  1 13  3  4  0  8 12  6 15 14  5 10 
11 10 14  9  3  5  1  8 15  4  6 12  0  2 13  7 
14  5 11  2 12 10  6  0  4 15  1  3  8  9  7 13 
 8 12  0  4  5  3 13 11  2  9  7 10 14 15  1  6 
 2 13  9 14  6  7 12 15  8  0  3  1  4 11 10  5

to define a function c=f(a,b), where c is the element in the a-th row and b-th column.

The following two properties hold:

!= means different from

f(f(a,b),c)!=f(a,f(b,c)) -- non-associativity in general
f(a,b)!=f(b,a) -- non-commutativity in general
f(f(a,b),f(c,d))=f(f(a,c),f(b,d)) -- restricted commutativity

Next we define a list of N numbers in the integer range [0,15] to meet the size required. For 256 bits we need 64. So let's set N=64. This list can be interpreted as a 64 digit base-16 number.

Next we define a mixing procedure of elements of this kind, t and k, N-element lists of numbers in the integer range [0,15].

But before, we define a deterministic sequence obtained by a prng, for example, that returns always the same sequence of numbers in the interval [0,N-1]. frist_seq gets the first element of the sequence and next_seq the next one.

The mixing procedure is:

function m(t,k) returns r

    //one-to-one mixing of k and t
    for i in 0..N-1
        r[i] &lt;- f(t[i],k[i])
    end for
    i &lt;- first_seq
    for M number of applications of f -- 4096 for example
        // accumulative mixing of r with itself
        j &lt;- next_seq
        r[j]&lt;-f(r[j],r[i])
        i &lt;- j
    end for
    //one-to-one mixing of k and r
    for i 
... keep reading on reddit ➡

👍︎ 23
📰︎ r/crypto
💬︎
👤︎ u/DanielNgr
📅︎ Mar 07 2021
🚨︎ report
Blockchain, Crypto Payments Pioneer to Transform eCommerce

I posted this on Monday in a couple other subs but unfortunately I didnt get in - was asked to post it here but it will probably get removed and/or downvoted.

I'm currently watching from the sidelines as it has pulled back pretty good today. I'm keeping an eye for it to either drop back below the 200MA and possibly fizzle out or get back above the 50MA and hold. Its OTC which has been getting hammered as of late so definitely proceed with caution.

$RKFL

Source: Here

COMPANY SNAPSHOT

RocketFuel Blockchain, Inc. is global payments processing company offering highly efficient 1-click check-out solutions to eCommerce merchants and their customers. RocketFuel’s solution focuses on enhanced customer privacy protection eliminating the risk of data breach while improving speed, security and ease of use. RocketFuel users are able to enjoy seamless check-out using their favorite cryptocurrencies or direct bank transfers and forget the clunky cart and card paradigm of the past. RocketFuel merchants are able to implement new impulse buying schemes and generate new sales channels unavailable in current eCommerce solutions.

INVESTMENT HIGHLIGHTS

RKFL is an early mover as a global provider of one-click online payment options using Bitcoin and 40+ other cryptocurrencies. Moreover, RKFL is the first cryptocurrency payment service to provide a seamless one-click checkout experience.

The market is huge and growing at an enviable rate. According to Markets and Markets, the blockchain technology market is expected to reach the $39.7B mark in 2025, up from $3B in 2020.

Current eCommerce methods are outdated, problematic, and costly, while the Company’s platform is designed to improve the merchant and customer experience. Implementation should lead to lower merchant costs, potential recurring business and may foster customer loyalty.

Management has a proven track record of developing new technologies, bringing them to market, and generating value for the investors. The CEO has exited 5 other companies. Thus, we envision RKFL emerging as a takeover candidate.

Our forecasts suggest sales will jump from $1.8M to $40M in 3 years, with meaningful EPS. Stocks tend to generate their greatest gains when the transition from early adoption to mass m

... keep reading on reddit ➡

👍︎ 5
💬︎
👤︎ u/bigdigdoug
📅︎ Apr 08 2021
🚨︎ report
The r/Cryptopack Getting Started Series 1: ETH vs BTC

Hey, so I wanted to make a getting started on crypto guide so those who are curious can get in and get a better view of the crypto landscape. I'm still pretty new to this stuff but I'm looking to share my knowledge and hopefully learn more with everyone else. Not sure how many threads I'll make but I'm hoping to start from square one and then cover topics such as decentralized finance, yield farming and staking, stablecoins, competing smart chains, non-fungible tokens and others. This thread is going to be mega intro: what is crypto? What is the difference between Ethereum and Bitcoin? What utility do these coins have in terms of real world applications?

Bitcoin

Overview

Bitcoin is the original cryptocurrency, created in 2008 by a person or group of people known as "Satoshi Nakamoto". Bitcoin is a decentralized digital currency, there is no central bank or authority controlling it. Bitcoin is able to achieve decentralized verification of transfers and payments via cryptography and a trustless, public distributed ledger known as blockchain. In the years since, blockchain has been used in numerous real world applications including facilitating faster and cheaper bank transfers, tracking shipments and manufactured goods at different stages in the assembly process, digital IDs and voting, and medical recordkeeping. Blockchain technology will become more and more valuable in the future as novel uses continue to be innovated. Here at the cryptopack, we want everyone to have some exposure to this in their portfolio.

Mining Bitcoin and Bitcoin Supply

Bitcoin's blockchain is kept secure by "miners". These are people and companies that run advanced algorithms on increasingly fast computers to verify transactions. The key to keeping a blockchain secure is preventing the "double spend" problem. This is when a holder of a crypto token can create a copy of that token, pay someone with it, and retain the original. If holders of a coin can successfully double spend, it can ruin trust in the entire blockchain and take down the coin.

Miners complete 1 MB of transaction verifications (called a block) and then will have the chance at being rewarded in Bitcoin for doing so. Only the first miner to arrive at the correct solution will receive a payout, so there is an element of luck involved. Mining is the only way new coins enter circulation, as of November 2020 there were 18.5 million Bitcoins in circulation. Mining becomes progressively harder with fewer coins

... keep reading on reddit ➡

👍︎ 14
📰︎ r/cryptopack
💬︎
👤︎ u/gigantoir
📅︎ Mar 06 2021
🚨︎ report
Major crypto topics explained by NON-CRYPTO YouTubers (and me)

As many of you probably know, it can be hard to find good educational content about crypto on YouTube these days because of the sheer amount of spam and clickbait. And a recent survey found that only 1/6 of crypto investors fully understand the technology behind it! It's not wrong to just want to make money through crypto, but even if that's what you're here for, you should also understand the technology so that you can do your own research into new projects!

So here are some videos from channels that focus mostly on other topics (i.e math, computers, general content), but occasionally delve into crypto from a technical/educational standpoint. I only included videos from channels like this to eliminate as much shilling and bullshit as possible. I also included some of my own summaries and explanations to fill in gaps and tried to make sure everything was mostly coin-agnostic (except for Bitcoin).

The Origins of Bitcoin and Proof of Work (PoW)

This is the most comprehensive video about Bitcoin and Proof of Work that I've seen so far. It is long, but it is a really, really good starting point. It starts off with simple plain-text ledgers that are easy to understand and then builds on that to get to blockchains, mining, and how cryptography fits into it all. Seriously, this is the single best video you could possibly watch on cryptocurrency, and any newbies should do themselves a favour and check it out.

Supplementary video: How secure is 256 bit security? - 3Blue1Brown (5:05)

This is a shorter video from the same channel that illustrates just how big 2^(256) is so that you can understand why it's impractical for anybody to make that many guesses in any reasonable amount of time. It is not really talking about the details of hash functions like SHA-256, more just how large the number 2^(256) is, so this one is completely optional. It is a fun little thought experiment, though!

Encryption and Wallets

3Blue1Brown's video touches briefly on public key cryptography (asymmetric cryptography), and this goes into a little more detail to help flesh out that part of the video. It also explain

... keep reading on reddit ➡

👍︎ 10
💬︎
👤︎ u/cchaser92
📅︎ Mar 13 2021
🚨︎ report
Simos18 Supplier Bootloader (SBOOT) Exploit: Reading Boot Passwords

I have glossed over all of the actual data details here for brevity. For details including exact messages (and code!), please visit https://github.com/bri3d/Simos18_SBOOT

I have been doing a lot of work on Simos18 SBOOT - working blind off of only Ghidra and an SBOOT binary. I am happy to report that I have constructed an exploit mechanism which can dump the Tricore Boot Passwords from Simos18 SBOOT.

A bit of background: All ECUs based on Infineon Tricore MCUs are protected, fundamentally, by a simple mechanism: the Flash memory is inside of the processor module itself, and the processor's Flash controller protects the memory from Read and Write using passwords stored inside of User Configuration Blocks in the CPU.

Tricore CPUs do allow the user to run arbitrary code natively, using a set of hardware pins which configure the CPU to load a Bootstrap Loader (BSL) over the CAN bus. However, an attacker or tuner cannot read or write the Flash memory without either an exploit for the factory flashing process, or access to these passwords, because when the Bootstrap Loader starts, Flash is locked using these passwords. In older Tricore based ECUs, these passwords were fixed or generated algorithmically, but in modern ECUs like Simos18, manufacturers wised up and the passwords are generated randomly and burned into a One Time Programmed area during end-of-line manufacturing. So, there's a chicken-and-egg problem: an attacker needs to read Flash to get the passwords back out, but they can't read Flash without the passwords...

So, the attack that needs to be found is a read primitive for an arbitrary part of Flash memory.

On Simos18 for VW AG, there is a simple exploit for the factory flashing process which allows arbitrary write access to Flash memory and therefore arbitrary code execution, so this password access is not as important for tuning - but, there are still some reasons to want it: the factory flashing process won't work if the ECU's immobilizer is active, including if you bought a junkyard ECU to play with or to repair your own car with. The factory flashing exploit also won't work if you bricked the car using a bad software patch, or shot yourself in the foot by installing software for the wrong vehicle. So, having the passwords is still useful.

Most modern ECUs have what's called SBOOT: a Supplier Bootloader which is provided by the ECU manufacturer (i.e. Continental). This Supplier Bootloader is used to write ECUs during the manufacturing pro

... keep reading on reddit ➡

👍︎ 27
📰︎ r/CarHacking
💬︎
👤︎ u/bri3d
📅︎ Mar 08 2021
🚨︎ report
What is cryptocurrency? Everything you need to know in 2021

What is cryptocurrency? Everything you need to know in 2021

Cryptocurrency, shorthand crypto, refers to digital currencies or tokens that are secured by cryptography. It is akin to digital assets that represent certain rights, such as ownership towards a network, digital collectibles, spendable currency within the system, or even as a proof of ownership of physical items.

What is bitcoin? - The birth of the first cryptocurrency

Bitcoin was first released by Satoshi Nakamoto on 3rd Jan 2009 as a new form of money. It is a novel invention that has given birth to the technology we call blockchain today. Little did people know that it will have an impact wider than just reinventing the antiquated financial system. It has in fact, gone on to inspire a whole generation of developers towards building a decentralized Internet.

What is the blockchain?

Blockchain is the key infrastructure that powers the whole crypto industry. Let’s see what problems blockchain is aiming to solve. Ever wonder why in this modern age we are still relying on paper based documents for important matters? Examples of these documents include physical copies of our passports, identification documents, and certifications.

That's because we have yet to find a good way to make sure that information shown digitally is not tamper-proof, until the advent of blockchain. Blockchains basically ensure that the information depicted is accurate and that the data is not compromised.

Historically, it has been costly to prove ownership to an asset because of all the regulatory red tapes, middlemen, and processes involved in recording who owns what at a specific time. With blockchain, anyone can launch a network and distribute ownership of that network to millions of people globally with a fraction of the cost. This is a bit abstract but imagine owning a part of the Internet where value is accrued to the owners - this would be pretty impressive.

With cryptocurrencies, people can imbue ownership rights in the form of digital tokens that can be easily transferable. As such, multiple projects chose to fundraise globally, distribute tokens as rewards to early adopters, and as a token of commemoration. Thousands of tokens have been released since then. Even though most of them fell into oblivion, some of them managed to capture enough value that they are now worth billions of dollars.

Cryptocurrency prices and market cap

T

... keep reading on reddit ➡

👍︎ 48
💬︎
👤︎ u/Baablo
📅︎ Feb 11 2021
🚨︎ report
HOW TO BUY, STORE, TRANSFER AND MAKE MONEY OUT OF CRYPTO

Well, I have been trying to write this from long but my current job was not allowing this. Luckily I left the job and all the miseries associated with it. Anyway, Just a little background, I am an ex-banker and been in crypto from past few years; Have seen ups and downs, pumps and dumps, all the HODL MOON and rekt, and what not. Lately, I am getting lot of requests from people asking about cryptocurrencies or Bitcoin in general. So, I am writing a fully fledged guide here on how you buy, store, transfer and make money out of cypto; Last part is very subjective though..hahah.

Just to be clear, I will focus more on providing relevant resources to learn rather than bullshitting my own advise.

Why Crypto?

Biggest question is why one should ever buy crypto. why one should spend money on something that they can't even touch or feel.

Well, before answering that, let me tell you that we do not live in an Utopia. We live around mean and selfish people, corrupt politicians, filthy rich people who wants to control and peek into every aspect of our life. And Our current system consists lot of intermediaries which result into extra cost, time and chances of fraud.

Bitcoin just came to get rid of such people. It works on a decentralized mechanism where we cut the middleman or centralized institutions out of the system and transfers the trust from humans to computers(nodes), rendering the chances of error and fraud while offering secure and seamless transactions.

Imagine sending millions of dollars from one country to other in real time with fees as low as few dollars. Not to mention, payment is only one use out of thousands that the underlying technology of crypto-currencies blockchain offers. Besides, in terms of investments, it has outperformed every other asset class imaginable in the last decade.

  • If you want to dig deeper into technological aspect of bitcoin, there is free online course by Princeton University on youtube- Princeton-Bitcoin
  • Also look at the work of Andreas M. Antonopoulos, he is highly sought expert in bitcoin and blockchain technology, known for making complex subjects easy to understand-Aantonop crypto
  • If you're a book person- Books to lean about crypto

How to buy Bitcoin

Now that you know bitcoin and how it works

... keep reading on reddit ➡

👍︎ 45
💬︎
📅︎ Feb 06 2021
🚨︎ report
Frequently Asked Questions and Information Thread

This FAQ and information thread serves to inform both new and existing users about common Bitcoin topics that readers coming to this Bitcoin subreddit may have. This is a living and breathing document, which will change over time. If you have suggestions on how to change it, please comment below or message the mods.


What is /r/btc?

The /r/btc reddit community was originally created as a community to discuss bitcoin. It quickly gained momentum in August 2015 when the bitcoin block size debate heightened. On the legacy /r/bitcoin subreddit it was discovered that moderators were heavily censoring discussions that were not inline with their own opinions.

Once realized, the subreddit subscribers began to openly question the censorship which led to thousands of redditors being banned from the /r/bitcoin subreddit. A large number of redditors switched to other subreddits such as /r/bitcoin_uncensored and /r/btc. For a run-down on the history of censorship, please read A (brief and incomplete) history of censorship in /r/bitcoin by John Blocke and /r/Bitcoin Censorship, Revisted by John Blocke. As yet another example, /r/bitcoin censored 5,683 posts and comments just in the month of September 2017 alone. This shows the sheer magnitude of censorship that is happening, which continues to this day. Read a synopsis of /r/bitcoin to get the full story and a complete understanding of why people are so upset with /r/bitcoin's censorship. Further reading can be found here and here with a giant collection of information regarding these topics.


Why is censorship bad for Bitcoin?

As demonstrated above, censorship has become prevalent in almost all of the major Bitcoin [communication channels](https://www.reddit.com/r/btc/comments/5mxov4/wtf_north_koreas_cgc_t

... keep reading on reddit ➡

👍︎ 224
📰︎ r/btc
💬︎
📅︎ Nov 11 2020
🚨︎ report
What is NuCypher, the token for the protection of personal data.⬇️

NuCypher is the first token that implements a sort of personal data protection on public Blockchains, through end-to-end encryption systems and threshold encryption.

In short, it serves to protect developer data within Ethereum Smart Contracts and possibly other Blockchains.

What is NuCypher? End-to-End encryption, often referred to as E2EE, is a way to ensure that data remains private as it travels from one ledger to another.

E2EE is used today in many messaging apps to prevent data from being intercepted by third parties, including the app itself.

NuCypher is a privacy toolkit that allows applications to deliver E2EE without the need for users to trust the app developers.

Let's see an example reported on the official website of how it could work in a private data exchange between Alice and Bob:

Alice has to send Data to Bob, the data is encrypted by several NuCypher nodes. Each cryptography is independent of the other and Bob is able to reconstruct the original message with his private key "joining the pieces" (ie the individual cryptographs of the individual nodes).

NuCypher brings private data to public blockchains, helping apps provide privacy without the need for user trust and uncensored communications.

In this way, when we register for an application that uses our sensitive data, if we know that it uses the NuCypher network for encryption we can rest assured that our data will be safe, and no Hacker will be able to access it, as has already happened in the past to many large companies, see Facebook with Cambridge Analytica.

How does threshold encryption work? Threshold cryptographic systems protect data by using a network of independent nodes to perform tasks.

Digital services provided in this way cannot be interrupted, corrupted or controlled by a single entity.

NuCypher's E2EE service, for example, leverages a threshold cryptographic system that performs sensitive operations on distributed nodes.

The protocol also supports cryptographic services that enable additional trustless features including data access control, threshold signing and verifications.

What does the NU token have to do with it? Nu is an Ethereum token that powers the NuCypher network by incentivizing nodes to provide cryptographic operations on demand without a central authority.

To become a node in the NuCypher network and receive rewards for running cryptographic services, the NU tokens must be "stored".

Although NuCypher nodes cannot access user data, those tha

... keep reading on reddit ➡

👍︎ 56
📰︎ r/nucypher
💬︎
👤︎ u/paolo_dig
📅︎ Feb 17 2021
🚨︎ report
Pinned Post Candidate: Intro to Zcash

I spent a little bit of time compiling a bunch of useful, beginner information for the community since the top pinned post is 4 years old. Some of it has been updated, but some of it is outdated. So here's what I've compiled. Morph it into whatever you wish, but this is how I view things through my lens. I hope you find this information useful and helpful. If you think I've made an error somewhere, please post your suggestion and we'll discuss/fix! Let's crowdsource this thing if you have more to add!

What is Zcash?

Zcash is a privacy preserving digital currency, or cryptocurrency, similar to Bitcoin. In its current state, it enables optional privacy for those that want it and transparency for those that need it. Zcash leverages a novel technology called Zero-knowledge proofs under the hood to enable privacy. Zero-knowledge proofs allow transactions to be verified without revealing the sender, receiver or transaction amount. Selective disclosure features within Zcash allow a user to share some transaction details, for purposes of compliance or audit.

Zcash works similarly to most other digital currencies in that it uses a digital ledger called a blockchain to record public transactions. Zcash differs from the rest of the crowd by leveraging cutting edge math and anonymous pools of value called shielded pools to enable private transactions. Your average digital currency blockchain (Bitcoin, Ethereum, etc) is completely transparent in nature. This means that not only can you see the sender and receiver of a transaction, but you can see the value that is sent between the two parties, the total value held by both the sending and receiving addresses, AND a list of all of their previously conducted transactions. This is not ideal and is equivalent to sharing your bank statements with the entire grocery store while paying for your groceries with a megaphone. "I'D LIKE TO BUY GROCERIES PLEASE. HERE ARE MY BANK STATEMENTS, MA'AM. I HAVE COPIES FOR EVERYONE. YOU TOO SIR."

Read more about the basics of Zcash here: https://z.cash/the-basics/

How does Zcash enable privacy?

Zcash enables privacy by leveraging shielded pools of value and cutting edge math to anonymize attributes of a transaction. The attributes that are anonymized depend on the type of address sending and receiving the transaction and the transaction type.

The types of addresses found on the Zcash network include:

-Public or transparent addresses that begi

... keep reading on reddit ➡

👍︎ 16
📰︎ r/zec
💬︎
👤︎ u/wobbzz
📅︎ Feb 20 2021
🚨︎ report
Strictly context-binding signatures

Recently filosotille posted about yet another PGP UX failure, namely on the lack of context integrated in signatures and how parsing the signed message does not require first having successfully validated the signature.

The failure in question is that a repository maintainer created a signed message with the response "I approve", with no context attached.

Meaning, that message will validate regardless of where you paste it, so anybody can pretend to have been the maintainer and post it as a response to their own comments. This is also called a "replay attack" in cryptography, and can trick people into accepting your potentially malicious submission.

Link here; https://twitter.com/FiloSottile/status/1359128186257350660

Quote;

> I have a new favorite PGP UX fail.

> Copy paste this anywhere and your message, too, can be approved by the maintainer of this project!

> Only recourse is revoking their PGP key, and hoping the recipient somehow learns of the revocation.

> I would go further and say that any signature should be bound to its context (either by a context-specific key, or by signed metadata), and clearsigned messages should not ever be supported. The message should be deobfuscated upon successful verification.

The other issue besides context, the validation issue, relates to XKCD comic #1181, that you can simply read the plain message and act on it before you know if it's valid. This can be especially problematic when validation is automatic, and where a bug either can cause validation to not be required or cause the message to be incorrectly validated - consider for example software updates, or even Spectre style branch prediction optimizations where unsafe actions are not rolled back correctly.

In response I posted the following idea (rewritten for readability);

RSA has a construction called RSA signatures with message recovery - validating the signature against the public key derives the actual message (limited to one "block").

Since RSA signing is mathematically inverse to RSA encryption, it's possible to embedd the actual message itself in the output from signature validation. Most of the time this is not done for a variety of reasons, typically due to various protocol security issues, and because just embedding a hash of the message is more robust. Thus, RSA signatures with message recovery is effectively the only RSA construction in use where signature validation is actually doing something th

... keep reading on reddit ➡

👍︎ 17
📰︎ r/crypto
💬︎
👤︎ u/Natanael_L
📅︎ Feb 17 2021
🚨︎ report
Review of Rutgers CS - Part 1: My journey and questions

Since there was a lot of interest, here is my experience of being a CS major at Rutgers and what I’ve learned in general. I’ll split this into two posts; one post will be my experience and answering general questions and the second will be geared more towards classes. So, let me start this off with my journey. I started out in Rutgers as a mechanical engineering major and after 2 years, I realized I wasn’t really interested in it. In my attempts to find a new career path, I found this online course called CS50, Harvard’s Intro to CS course. It covered topics ranging from C to data structures to web development to SQL. It was pretty advanced, especially for an intro course, but I really enjoyed it and decided to dive in and pursue CS at Rutgers. Overall, from the first CS course to the last, it took me 4 semesters to complete my CS degree. I ended up doing a BA degree instead of a BS (reason explained later). I’ll breakdown each semester to give you more of an idea on my understanding at each time period and list the CS courses I did that semester. Since I started doing CS off semester (Spring), I had 2 summers to do internships.

Classes I took:

Core:

CS111 (Intro to CS), CS112 (Data Structures), CS205 (Discrete 1), CS206 (Discrete 2), CS211 (Computer Architecture), CS344 (Algorithms)

Electives:

CS214 (Systems Programming), CS336 (Databases), CS416 (Operating Systems), CS419 (Computer Security), ECE 424 (Cryptography)

Semester 1: The jump in

I only took CS111 this semester. Since I had already done a majority of CS50 by this point, this course felt really easy for me. It felt more like a review and I made sure to get more comfortable on concepts that confused me, like recursion. The projects weren’t too bad – at most, it took me about a day to do them. Since I didn’t have much going on this semester, I started to learn data structures by myself. I would typically just google data structures and watch videos about them, i.e. what’s a stack, how’s it used, how it’s implemented. This is the semester I also learned about leetcode.com, a site which gives you coding problems that you’d typically see in interviews. I jumped in and got more comfortable working with various data structures and problem solving. I chose Python as my interviewing language, which is still my most preferred language for interviewing, since it’s easy to write and very easy to implement most standard data structures/algos.

At this point, the only project on my

... keep reading on reddit ➡

👍︎ 79
📰︎ r/rutgers
💬︎
📅︎ Jan 03 2021
🚨︎ report
What is bitcoin? (Beginners guide)

I noticed that many new members have joined our community. Therefore, I share a brief explanation of Bitcoin.

Bitcoin is an invention that, for the first time in history, enabled a group of software users to create and manage a digital money supply outside the control of any government or bank. A revolutionary idea when introduced in 2009, Bitcoin continues to have implications that are just beginning to be understood and explored by technologists and economists today. This means that, depending on who you ask, you might get different answers to questions like “What is Bitcoin? and “Why do bitcoins have value?”

To begin, it helps to think of Bitcoin as a software protocol like those you interact with everyday – think SMTP (which helps route your emails) and HTTP (which ensures the web content you request from your browser is delivered to you by servers). The Bitcoin protocol enables computers running its software to manage a data set (the blockchain) and enforce a set of rules that make this data (bitcoins) scarce and valuable.

As its essential building blocks, the Bitcoin protocol uses:

- Public-key cryptography – Wallet software assigns bitcoin owners both a public key (which is used by the protocol to prove you own bitcoin) and a private key (a kind of password that, if secured well, guarantees your bitcoins can only be accessed by you).

- Peer-to-peer networking – Nodes (computers running the software) review transactions to ensure the software’s rules are being followed. Miners (nodes using special computer chips) then compete for the right to batch these transactions into the blocks periodically added to the blockchain.

- A finite supply – According to the software rules, only 21 million bitcoins can be produced, a limit that gives bitcoins value.

The Bitcoin blockchain is a full record of the network’s history validated by individuals running the Bitcoin software (nodes). This ensures that unlike most digital data, which can be freely copied and modified, bitcoins cannot be. Because bitcoins are scarce, divisible and transferable, bitcoins are used as money.

Who Created Bitcoin?

While Bitcoin can safely claim to have created the world’s first successful cryptocurrency, its technology is built on decades of ideas for how cryptography could help create digital money. This includes such formative projects as:

- B-money – A proposed anonymous, distributed digital cash system

- Bit Gold – An attempt to create a type of scarce onli

... keep reading on reddit ➡

👍︎ 8
📰︎ r/Bitcoin
💬︎
📅︎ Feb 28 2021
🚨︎ report
A brief look into areas for security improvements in the CTemplar web app (Part 1/2)

Hello CTemplar Team!

CTemplar has come a long way in the past few months, and it seems well on it's way to becoming a good encrypted email service. It's clear that everyone in the team has been worked incredibly hard to get it this far. I think one of CTemplar's strong points is how feature-complete it is, even during this early stage of development. I believe in their mission of making encrypted email freely available to people, and I would like to help out.

While using the app, I've noticed a couple of little issues and glitches, which I have outlined below. Please don't take any of this as a criticism towards CTemplar or the developers, I am just trying to help in getting the application to a more polished state. I've tried to document them up as clearly, and where possible, I've given the steps to fix

Some of the below issues relate to security, but just to clarify up-front: none of these issues are critical, and if you are a user of CTemplar - you do not have anything to be immediately worried about in regards to the content below. That being said, they do should still be addressed by the devs, in order to keep things as safe as possible for the users going forward.

I have some additional issues (not included in this list), which I would like to discuss privately with someone from the team. I would appreciate if you could reach out, and I will go through them with you. You can find my public key here.

Please forgive me in advance if I've made any mistakes here- I wrote this late at night

---

User Token not Invalidated After Sign Out

When the user signs in with their credentials the server responds with a token, which is stored in the browsers local storage as user_key. And when they sign out, this key is removed from local storage, as expected (this happens in users.service.ts). However, it is never invalidated, leaving the users account vulnerable to a session hijacking attack. If an attacker were to manually insert this token into their browser, they would have full unrestricted access to the victims account. This can be fixed by calling to the server to destroy the token on logout or session expiry, and then generating a fresh access key next time the user signs in.

---

Error in Compatibility Checking Script

When using a browser that doesn't support window.crypto then the no content is loaded (as expected). However the alert()

... keep reading on reddit ➡

👍︎ 16
📰︎ r/ctemplar
💬︎
👤︎ u/lissy93
📅︎ Jan 10 2021
🚨︎ report
Virulent @ Fairyland

I (again) congratulate the nCoV show-runners on their spectacular trickery.

You kept the world buzzing on one topic for an entire year.

True lie amazing.

However, it will be over soon. And you had better be off to Antarctica double-quick, or the rest of us will be dining upon thee.


Note: this post might be problematic for some - for those that discovered this particular reddit recently (and arrive without sufficient 'context'), or WHO have not been reading closely enough - for I must admit guilt of a sort of hypocrisy - a form of self-censorship - in that while attempting to cast light on occult matters, my own findings and theories about 'what it all means' have led me to increasingly 'sensitive' topics that I have found increasingly difficult to simply state outright in plain words - and thus I have defensively veiled my own findings in metaphor, 'humourism', pop-culture/literary reference, and what might be labelled 'noise' (though not irrelevant or immaterial) - tactics not unlike those of the 'controllers' I wage war upon.

I have, to some degree (like any practicing occultist) rendered my understanding of things in ways that the disinterested layman is unlikely to 'get' via a surface reading, but that will be more obvious to those that pay closer attention - however, this state of affairs cannot continue much longer, because it may be responsible for extending the Covid stage play unnecessarily. Hence, though this document is not the first in which I speak much more plainly - it is the plainest yet.

If you cannot digest what I write below, try not to let it taint your perception of the rest of my material here. "Numbers don't lie" - they say - but the overarching thesis of this forum is that 'true' numbers indeed have been and are being used by government and press to lie every day, as a form of mockery, and spellcasting. For years I have been documenting what I and others believe to be evidence that the international press agenda of 'current affairs' is a military propaganda operation, making use of occult alphanumerical codes (ie.spells) to drive it's thematics (ie. the automation of bread and circus). The codes, at their heart, might not be 'evil' (indeed they appear to contain very useful and practical mnemonics and hidden knowledge), but their application by the press and governments, in my opinion, is simultaneously a mocking act of domination, and an ongoing revelation for those with eyes to see. As the masses of the world are inc

... keep reading on reddit ➡

👍︎ 5
💬︎
📅︎ Jan 26 2021
🚨︎ report
Private vs. Public Blockchain: What to choose?

Link: https://safex.org/private-vs-public-blockchain-what-to-choose/

Some time after its initiation followed by continuous development and adoption, it was clear that blockchain technology will transform the way of industry functioning overall. Literally, everyone introduced in-detail to the possibilities that this technology offers has stated that the use of blockchain-based applications will redefine companies, businesses, economies and, predictably, the state's concept.

Blockchain technology is contributing to a completely digitalized world, where every transaction or contract is an integral part of an immutable ledger, stored in transparent databases that disable any fraud, deletion, tampering or revision. Once an entry in such a ledger is made, the information can either be read by everyone or with permission needed, depending on the type of the blockchain.

https://preview.redd.it/cocq99s4m6k61.jpg?width=1200&format=pjpg&auto=webp&s=6a4822e9db6eb403c57d69e680d145f638f670f9

The continuous adoption of this technology could also lead to a world where algorithms and machines enable easy interaction between individuals and organizations and eliminate the need of intermediaries such as lawyers, brokers and even bankers, the representatives of administrative procedures that run the world. Digital transformation and blockchain technology will not bypass any business. Whether you run an eCommerce store, a small family hotel or a bookshop, you should start thinking about how implementing blockchain technology could improve your business model and welcome the change prepared.

The following article will present you with the key differences, similarities, advantages and disadvantages between a private and public blockchain and help you decide which one to choose according to your business needs.

Private vs. public blockchain

Depending on the operating model, business type and business size, a particular company can choose from the existing variants of blockchain protocols. There are four ways of how a blockchain-based platform can be set up:

  • Public and open (permissionless writing and reading)
  • Public and closed (permissionless writing, permissioned reading)
  • Private and open (permissioned writing, permissionless reading)
  • Private and closed (permissioned writing and reading)

Public blockchain

A public blockchain has got an open netw

... keep reading on reddit ➡

👍︎ 4
📰︎ r/safex
💬︎
📅︎ Feb 28 2021
🚨︎ report
GST on Cryptocurrency

The term cryptocurrency is generally used to describe a digital asset in which encryption techniques are used to regulate the generation of additional units and verify transactions on a blockchain. Cryptocurrency generally operates independently of a central bank, central authority or government.

Virtual currency is an emerging financial medium which may be used to pay for goods or services, or held for investment. These virtual currencies are a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value. In some environments, it operates like “real” currency i.e., the coin and paper money of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance but it does not have legal tender status in any jurisdiction.

Cryptocurrencies like bitcoin are decentralized, digital currencies relying on a peer-to-peer network which operates without the need for a third-party intermediary like the Reserve Bank of India.

Bitcoin is one example of a convertible virtual currency. Bitcoin is a cryptocurrency, a form of payment that uses cryptography to control its creation and management, rather than relying on central authorities.

Unlike usual forms of currency, it is in virtual form and may be used to transact in physical as well as online transactions. Essentially, bitcoin is a snippet of codes based on algorithm first identified in a self-authored paper by Satoshi Nakamoto.

The creation and transfer of bitcoins is based on open source cryptographic protocol managed in a decentralized manner. Bitcoin network shares a public ledger called the “block chain”. The ledger contains details of every transaction processed, thereby, allowing user’s computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses, permitting all users to have full control over sending bitcoins from their own bitcoin addresses.

Anyone can process transactions using the computing power of specialized hardware. This process is called “mining”. However, no centralized authority, governmental or otherwise, controls the digital system.

GST

As the digital currency is widely used and traded all round the globe the consequences of taxation need to be recognized. To tax the Cryptocurrencies in India under GST there is need to determine the Cryptocur

... keep reading on reddit ➡

👍︎ 3
💬︎
📅︎ Feb 17 2021
🚨︎ report
Decoding The Legal Standpoint of Cryptocurrencies in India

Introduction

Cryptocurrency is digi-money which is supported by certain algorithms and math problems. The entry and exit of such currencies are not supervised by any regulatory authority. Emerging from scepticism and rejection worldwide it has attracted a lot of attention in the recent years. In other words, it is an abstract creation which is now experiencing rapid growth as a fundamentally innovative new technology.

There exist a range of Cryptocurrencies, but bitcoins are most hunted in the market, so much so that substituting Cryptocurrencies as bitcoins. It is developed on a peer-to-peer network basis. Trading in bitcoins is facilitated through bitcoin exchange which works in a similar fashion as that of a stock exchange platform. However, the control being decentralized the transactions are synchronized using blockchain mechanism. The bitcoin market shows high volatility since its value is not derived from any underlying asset but simply through the market driven forces i.e., demand and supply. The blockchain technology uses certain cryptographical functions which renders the entire working of Cryptocurrency fraud remote and tamper-proof.

However, this article seeks to walk through the scenario of legal recognition w.r.t bitcoins in India as well as across the globe.

Countries and legal status

Many countries across the globe have welcomed bitcoins recognizing them legally. However, some countries have banned them or their use. The reason behind banning such Cryptocurrencies haven't come out as clear. Some countries like, China Pakistan, Bangladesh etc. have banned Cryptocurrencies. On the other hand, there are some countries like the USA, UK, Europe, Japan, Germany, Hongkong etc who showed a green flag to Cryptocurrencies, rendering them legal. Legalizing them in no manner would mean that the countries have accepted them as legal tender which is to say Cryptocurrencies are yet to replace the paper notes in our wallets or balances in our e-wallets.

History in India

Bitcoins made its debut in India in the year 2012. Soon after its entry in the market RBI in its Financial Stability Report in the year 2013 warned the public against banking on bitcoins as they posed challenge to the economy in the form of regulatory, operational, and legal risks. However, bitcoins paved its way in the Indian market and almost immediately was the talk of the town. In next to no time RBI in its circular dating 6th

... keep reading on reddit ➡

👍︎ 3
💬︎
📅︎ Feb 15 2021
🚨︎ report
Proposal: The Sia Foundation

Vision Statement

A common sentiment is brewing online; a shared desire for the internet that might have been. After decades of corporate encroachment, you don't need to be a power user to realize that something has gone very wrong.

In the early days of the internet, the future was bright. In that future, when you sent an instant message, it traveled directly to the recipient. When you needed to pay a friend, you announced a transfer of value to their public key. When an app was missing a feature you wanted, you opened up the source code and implemented it. When you took a picture on your phone, it was immediately encrypted and backed up to storage that you controlled. In that future, people would laugh at the idea of having to authenticate themselves to some corporation before doing these things.

What did we get instead? Rather than a network of human-sized communities, we have a handful of enormous commons, each controlled by a faceless corporate entity. Hey user, want to send a message? You can, but we'll store a copy of it indefinitely, unencrypted, for our preference-learning algorithms to pore over; how else could we slap targeted ads on every piece of content you see? Want to pay a friend? You can—in our Monopoly money. Want a new feature? Submit a request to our Support Center and we'll totally maybe think about it. Want to backup a photo? You can—inside our walled garden, which only we (and the NSA, of course) can access. Just be careful what you share, because merely locking you out of your account and deleting all your data is far from the worst thing we could do.

You rationalize this: "MEGACORP would never do such a thing; it would be bad for business." But we all know, at some level, that this state of affairs, this inversion of power, is not merely "unfortunate" or "suboptimal" – No. It is degrading. Even if MEGACORP were purely benevolent, it is degrading that we must ask its permission to talk to our friends; that we must rely on it to safeguard our treasured memories; that our digital lives are completely beholden to those who seek only to extract value from us.

At the root of this issue is the centralization of data. MEGACORP can surveil you—because your emails and video chats flow through their servers. And MEGACORP can control you—because they hold your data hostage. But centralization is a solution to a technical problem: How can we make the user's data accessible from anywhere in the world, on any device? For a long time, no

... keep reading on reddit ➡

👍︎ 100
📰︎ r/siacoin
💬︎
📅︎ Sep 08 2020
🚨︎ report
The transcript of *the* lecture. You know which one. (the 2 final paragraphs are in the comments because of stupid reddit character limit)

How many of you here have personally witnessed a total eclipse of the sun? To stand one day in the shadow of the moon is one of my humble goals in life. The closest I ever came was over thirty years ago. On February 26, 1979, a solar eclipse passed directly over the city of Portland. I bought my bus tickets and found a place to stay. But in the end, I couldn’t get the time off work. Well, anyone who lives in Portland can tell you that the chances of catching the sun in February are pretty slim. And sure enough, the skies over the city that day were completely overcast. I wouldn’t have seen a thing. That work I couldn’t get out of was my first job out of college: A sales clerk at an old Radio Shack store in beautiful downtown Worcester, Massachusetts. On my very first day behind the counter, a delivery truck pulled up to the front of the store. They carried in a big carton, upon which was printed the legend TRS-80. It was our floor sample of the world’s first mass-market microcomputer. The TRS-80 Model I had a Z80 processor clocked at 1.7 megahertz, 4,096 bytes of memory, and a 64-character black-and-white text display. The only storage was a cassette recorder. All this could be yours for the low, low price of $599. This store I was working in had seen better days. At one time, it had been near the center of a thriving commercial district. But like so many other New England cities, the advent of shopping malls had, by the early ‘70s, turned it into a ghost town. Worcester’s solution to this problem was decisive, to say the least. The city’s elders apparently decided that if they couldn’t beat them, they would join them. And so several square blocks at the heart of the city were bulldozed into oblivion, destroying dozens of family businesses, including the site of a pharmacy once operated by my great-grandfather. In their place was erected a vast three-level shopping complex, with cinemas and a food court. When the dust settled, only a few forlorn blocks of the old Worcester remained standing. My Radio Shack store was in one of those blocks. Then, to add insult to injury, Radio Shack opened a brand-new location inside the shopping center, less than 500 feet from my store. So now patrons has a choice between a clean, well-lighted establishment with uniformed security and acres of convenient parking, or a shadowy hole in a seedy old office building next to an adult movie theater. Consequently, I had plenty of time to fool around with the new computer. I taught

... keep reading on reddit ➡

👍︎ 17
📰︎ r/TheWitness
💬︎
👤︎ u/Ripuru-kun
📅︎ Dec 26 2020
🚨︎ report
I have trouble with perspective changes.

I recognize that, in principle, switching between multiple plot threads, each with a different perspective character, can be a good storytelling device. In practice, I feel like I'm being made to wait for the one story I care about to resume.

This is one reason I liked The Amber Spyglass much less than The Golden Compass (a.k.a. Northern Lights) and The Subtle Knife: Spyglass is burdened with frequent switches to uninteresting side characters. Likewise I think I would've stuck with American Gods, instead of putting it down 200 pages in, if every other chapter wasn't some random sex scene. I'm reading The Quantum Thief now and its stinginess with exposition (I know what public-key cryptography is because that's a real thing, but "gevulot" were defined only several chapters after they were first mentioned and became important to the plot) is not made any easier to handle by alternating between plots, plus the occasional scene that has no apparent connection to any plot. Only the perspective-switching between Jean le Flambeur and Mieli feels fine, because they're involved in the same plot.

By contrast, consider Nine Princes in Amber, which I read recently. With all those princes and princesses running around, a different author probably would've been tempted to switch perspectives frequently, but the consistent focus on Corwin keeps the story engaging and moving along at a good clip. And this is in a genre, epic fantasy, that's liable to get bogged down. (Unless you consider it not to be epic fantasy for the very reason that it's focused on one person.) An intermediate example would be Consider Phlebas. This book managed to keep me hooked even at an intimidating 170k words. I should've just skipped the occasional Fal 'Ngeestra chapters, in which absolutely nothing happens; we don't even get to learn much more about the setting than we learn from the main plot. On the other hand, I enjoyed the act about the Eaters, which others have rightly criticized as filler, because stuff actually happened in it, and it was well integrated into the story as a whole, featuring the main character and being part of the main quest.

I enjoy sidequests in video games. Maybe that's because, as the player, I get to choose when to resume the main quest and when to do a sidequest. In other media, typically, you're at the author's mercy.

👍︎ 8
📰︎ r/printSF
💬︎
📅︎ Dec 13 2020
🚨︎ report
Blockchain, Crypto Payments Pioneer to Transform eCommerce

$RKFL

Source: Here

COMPANY SNAPSHOT

RocketFuel Blockchain, Inc. is global payments processing company offering highly efficient 1-click check-out solutions to eCommerce merchants and their customers. RocketFuel’s solution focuses on enhanced customer privacy protection eliminating the risk of data breach while improving speed, security and ease of use. RocketFuel users are able to enjoy seamless check-out using their favorite cryptocurrencies or direct bank transfers and forget the clunky cart and card paradigm of the past. RocketFuel merchants are able to implement new impulse buying schemes and generate new sales channels unavailable in current eCommerce solutions.

INVESTMENT HIGHLIGHTS

RKFL is an early mover as a global provider of one-click online payment options using Bitcoin and 40+ other cryptocurrencies. Moreover, RKFL is the first cryptocurrency payment service to provide a seamless one-click checkout experience.

The market is huge and growing at an enviable rate. According to Markets and Markets, the blockchain technology market is expected to reach the $39.7B mark in 2025, up from $3B in 2020.

Current eCommerce methods are outdated, problematic, and costly, while the Company’s platform is designed to improve the merchant and customer experience. Implementation should lead to lower merchant costs, potential recurring business and may foster customer loyalty.

Management has a proven track record of developing new technologies, bringing them to market, and generating value for the investors. The CEO has exited 5 other companies. Thus, we envision RKFL emerging as a takeover candidate.

Our forecasts suggest sales will jump from $1.8M to $40M in 3 years, with meaningful EPS. Stocks tend to generate their greatest gains when the transition from early adoption to mass market appeal begins, which could begin in late 2021.

Our 6-12-month target of $6.15 reflects a reasonable 4x our FY24 sales estimate of $40M and roughly 28x our $0.22 EPS forecast. This target could prove to be conservative if adoption accelerates.

  • Price as of 3/31/21$1.32
  • 52 Wk High - Low$3.25 - $0.50
  • Est. Shares Outstanding24.2M
  • Market Capitalization$31.9M
  • Average Volume17,008
  • Exchange:OTCQB

COMPANY INFORMATION

... keep reading on reddit ➡

👍︎ 2
💬︎
👤︎ u/bigdigdoug
📅︎ Apr 05 2021
🚨︎ report
Blockchain, Crypto Payments Pioneer to Transform eCommerce

$RKFL

Source: Here

COMPANY SNAPSHOT

RocketFuel Blockchain, Inc. is global payments processing company offering highly efficient 1-click check-out solutions to eCommerce merchants and their customers. RocketFuel’s solution focuses on enhanced customer privacy protection eliminating the risk of data breach while improving speed, security and ease of use. RocketFuel users are able to enjoy seamless check-out using their favorite cryptocurrencies or direct bank transfers and forget the clunky cart and card paradigm of the past. RocketFuel merchants are able to implement new impulse buying schemes and generate new sales channels unavailable in current eCommerce solutions.

INVESTMENT HIGHLIGHTS

RKFL is an early mover as a global provider of one-click online payment options using Bitcoin and 40+ other cryptocurrencies. Moreover, RKFL is the first cryptocurrency payment service to provide a seamless one-click checkout experience.

The market is huge and growing at an enviable rate. According to Markets and Markets, the blockchain technology market is expected to reach the $39.7B mark in 2025, up from $3B in 2020.

Current eCommerce methods are outdated, problematic, and costly, while the Company’s platform is designed to improve the merchant and customer experience. Implementation should lead to lower merchant costs, potential recurring business and may foster customer loyalty.

Management has a proven track record of developing new technologies, bringing them to market, and generating value for the investors. The CEO has exited 5 other companies. Thus, we envision RKFL emerging as a takeover candidate.

Our forecasts suggest sales will jump from $1.8M to $40M in 3 years, with meaningful EPS. Stocks tend to generate their greatest gains when the transition from early adoption to mass market appeal begins, which could begin in late 2021.

Our 6-12-month target of $6.15 reflects a reasonable 4x our FY24 sales estimate of $40M and roughly 28x our $0.22 EPS forecast. This target could prove to be conservative if adoption accelerates.

  • Price as of 3/31/21$1.32
  • 52 Wk High - Low$3.25 - $0.50
  • Est. Shares Outstanding24.2M
  • Market Capitalization$31.9M
  • Average Volume17,008
  • Exchange:OTCQB

COMPANY INFORMATION

RocketFuel *

... keep reading on reddit ➡

👍︎ 4
💬︎
👤︎ u/bigdigdoug
📅︎ Apr 07 2021
🚨︎ report
Misconceptions Regarding Dogecoin and Cryptocurrency (REVISED V1.2)

This is a revised version of my previous article. I am going to try to update frequently.

Version 1.2 has the following changes

  • added new questions based on feedback from the community
  • Updated some of the spelling errors and minor typos. I don’t have an English degree 😂. The information is still factual though. If you see something glaringly wrong just comment or message me and I’ll fix it.
  • Updated some of the numbers to reflect current data
  • Rearranged the order of the questions to build upon each other better
  • I had to shorten certain answers to fit the length requirement.

This information below is important. I ask that you please take the time to read this entire post before making judgment or commenting. My discord group of over 100 people have grouped together the majority of the most asked questioned and misunderstandings regarding Dogecoin, into the following 20 key points. Even if you know the answers to some of these please read the entire post. Please read them below.

  1. Question: What is Dogecoin?

Answer: Dogecoin (/ˈdoʊdʒkɔɪn/ DOHJ-koyn, code: DOGE, symbol: Ð) is a cryptocurrency invented by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system that is instant, fun, and free from traditional banking fees. Dogecoin features the face of the Shiba Inu dog from the popular "Doge" meme as its logo and namesake. It was introduced on December 6, 2013, and quickly developed its own online community reaching a market capitalization of US $5,382,875,000 on January 28, 2021. [Wikipedia, 20210203]

  1. Question: Why Dogecoin?

Answer: For the Lolz. Well, not quite. Initially as a purely meme-driven alternative to the likes of Bitcoin and Litecoin, Dogecoin in-fact boasts very low transaction fees and fast transaction times, very little network congestion, and most importantly, is designed to be used as a daily means of exchange, like your morning cup of coffee. Also, it is really fun, and who doesn't like the Dog ?!

1/2 - second perspective) Question: What Is Dogecoin? And why Dogecoin?

Answer: Back a few years ago, some crazy people banded together in support of a cryptocurrency known as Dogecoin. Similar to other cryptocurrencies, Dogecoin, the people's crypto, finds itself with the support of hundreds if not thousands of individuals pushing for this currency to succeed. But why is that? Unless you have been absent from every social bubble, you may have heard of Bitcoin. For the purpose of

... keep reading on reddit ➡

👍︎ 63
📰︎ r/dogecoin
💬︎
📅︎ Feb 12 2021
🚨︎ report
Misconceptions Regarding Dogecoin FAQ

I don’t know if this will provide help for anyone here in this sub Reddit. But it is what I have been using to educate people in R/Dogecoin. If you guys read over it and something is wrong please let me know and I will update it. I’m willing to learn myself.

Thank you guys

Here’s the full post

This information below is important. I ask that you please take the time to read this entire post before making judgment or commenting. My discord group of over 100 people have grouped together the majority of the most asked questioned and misunderstandings regarding Dogecoin, into the following 17 key points. Even if you know the answers to some of these please read the entire post. Please read them below.

  1. Question: What is Dogecoin?

Answer: Dogecoin (/ˈdoʊdʒkɔɪn/ DOHJ-koyn, code: DOGE, symbol: Ð) is a cryptocurrency invented by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system that is instant, fun, and free from traditional banking fees. Dogecoin features the face of the Shiba Inu dog from the popular "Doge" meme as its logo and namesake. It was introduced on December 6, 2013, and quickly developed its own online community reaching a market capitalization of US $5,382,875,000 on January 28, 2021. [Wikipedia, 20210203]

  1. Question: Why Dogecoin?

Answer: For the Lolz. Well, not quite. Initially as a purely meme-driven alternative to the likes of Bitcoin and Litecoin, Dogecoin in-fact boasts very low transaction fees and fast transaction times, very little network congestion, and most importantly, is designed to be used as a daily means of exchange, like your morning cup of coffee. Also, it is really fun, and who doesn't like the Dog ?!

1/2 - second perspective) Question: What Is Dogecoin? And why Dogecoin?

Answer: Back a few years ago, some crazy people banded together in support of a cryptocurrency known as Dogecoin. Similar to other cryptocurrencies, Dogecoin, the people's crypto, finds itself with the support of hundreds if not thousands of individuals pushing for this currency to succeed. But why is that? Unless you have been absent from every social bubble, you may have heard of Bitcoin. For the purpose of this explanation, you will find that Bitcoin is not exactly an easy thing to equate to Dogecoin, but lets think about the criteria of a Cryptocurrency.Bitcoin did not find its foothold overnight. In fact, it took several years. A lot of people fought tooth and nail for their belief in the coin. Cr

... keep reading on reddit ➡

👍︎ 18
💬︎
📅︎ Feb 13 2021
🚨︎ report
THE DOGECOIN FAQ - Answers To The Most Frequently Asked Questions

This is a revised version of my previous article. I am going to try to update frequently.

Version 1.2 has the following changes

  • added new questions based on feedback from the community
  • Updated some of the spelling errors and minor typos. I don’t have an English degree 😂. The information is still factual though. If you see something glaringly wrong just comment or message me and I’ll fix it.
  • Updated some of the numbers to reflect current data
  • Rearranged the order of the questions to build upon each other better

This information below is important. I ask that you please take the time to read this entire post before making judgment or commenting. My discord group of over 100 people have grouped together the majority of the most asked questioned and misunderstandings regarding Dogecoin, into the following 20 key points. Even if you know the answers to some of these please read the entire post. Please read them below.

  1. Question: What is Dogecoin?

Answer: Dogecoin (/ˈdoʊdʒkɔɪn/ DOHJ-koyn, code: DOGE, symbol: Ð) is a cryptocurrency invented by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system that is instant, fun, and free from traditional banking fees. Dogecoin features the face of the Shiba Inu dog from the popular "Doge" meme as its logo and namesake. It was introduced on December 6, 2013, and quickly developed its own online community reaching a market capitalization of US $5,382,875,000 on January 28, 2021. [Wikipedia, 20210203]

  1. Question: Why Dogecoin?

Answer: For the Lolz. Well, not quite. Initially as a purely meme-driven alternative to the likes of Bitcoin and Litecoin, Dogecoin in-fact boasts very low transaction fees and fast transaction times, very little network congestion, and most importantly, is designed to be used as a daily means of exchange, like your morning cup of coffee. Also, it is really fun, and who doesn't like the Dog ?!

1/2 - second perspective) Question: What Is Dogecoin? And why Dogecoin?

Answer: Back a few years ago, some crazy people banded together in support of a cryptocurrency known as Dogecoin. Similar to other cryptocurrencies, Dogecoin, the people's crypto, finds itself with the support of hundreds if not thousands of individuals pushing for this currency to succeed. But why is that? Unless you have been absent from every social bubble, you may have heard of Bitcoin. For the purpose of this explanation, you will find that Bitcoin is not exactly an eas

... keep reading on reddit ➡

👍︎ 11
📰︎ r/dogecoin
💬︎
📅︎ Feb 19 2021
🚨︎ report
What is Bitcoin? (Beginners Guide)

I noticed that many new members have joined our community. Therefore, I will share Kraken's explanation of what Bitcoin is:

Bitcoin is an invention that, for the first time in history, enabled a group of software users to create and manage a digital money supply outside the control of any government or bank. A revolutionary idea when introduced in 2009, Bitcoin continues to have implications that are just beginning to be understood and explored by technologists and economists today. This means that, depending on who you ask, you might get different answers to questions like “What is Bitcoin? and “Why do bitcoins have value?”

To begin, it helps to think of Bitcoin as a software protocol like those you interact with everyday – think SMTP (which helps route your emails) and HTTP (which ensures the web content you request from your browser is delivered to you by servers). The Bitcoin protocol enables computers running its software to manage a data set (the blockchain) and enforce a set of rules that make this data (bitcoins) scarce and valuable.

As its essential building blocks, the Bitcoin protocol uses:

- Public-key cryptography – Wallet software assigns bitcoin owners both a public key (which is used by the protocol to prove you own bitcoin) and a private key (a kind of password that, if secured well, guarantees your bitcoins can only be accessed by you).

- Peer-to-peer networking – Nodes (computers running the software) review transactions to ensure the software’s rules are being followed. Miners (nodes using special computer chips) then compete for the right to batch these transactions into the blocks periodically added to the blockchain.

- A finite supply – According to the software rules, only 21 million bitcoins can be produced, a limit that gives bitcoins value.

The Bitcoin blockchain is a full record of the network’s history validated by individuals running the Bitcoin software (nodes). This ensures that unlike most digital data, which can be freely copied and modified, bitcoins cannot be. Because bitcoins are scarce, divisible and transferable, bitcoins are used as money.

Who Created Bitcoin?

While Bitcoin can safely claim to have created the world’s first successful cryptocurrency, its technology is built on decades of ideas for how cryptography could help create digital money. This includes such formative projects as:

- B-money – A proposed anonymous, distributed digital cash system

- Bit Gold – An attempt to create a type

... keep reading on reddit ➡

👍︎ 2
💬︎
📅︎ Feb 28 2021
🚨︎ report

Please note that this site uses cookies to personalise content and adverts, to provide social media features, and to analyse web traffic. Click here for more information.