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Seed XOR is a security feature of the #Coldcard #hardwarewallet that allows you to split your backup seed phrase into multiple parts, each of which looks and functions like a complete #24-word seed phrase. This makes it more difficult for an attacker to steal your funds, even if they have physical access to one of the parts.
To use #SeedXOR, you will need to create two or more #Seedplates. A Seedplate is a metal sheet that contains a 24-word seed phrase. You can create your own Seedplates or purchase them from #Coinkite.
Once you have created your Seedplates, you can split your original seed phrase into two or more parts by XORing them together. XOR is a #mathematical operation that combines two values to produce a third value. In the case of Seed XOR, the third value is a new 24-word seed phrase that is the XOR of the two original seed phrases.
Each of the split seed phrases can be used to recover your Bitcoin funds. However, you will need all of the split seed phrases in order to do so. This means that if an attacker has physical access to one of the split seed phrases, they will not be able to steal your funds without also having the other split seed phrases.
Seed XOR is a #powerful security feature that can help to protect your Bitcoin funds from theft. However, it is important to note that it is not a perfect security measure. If an attacker has physical access to all of your split seed phrases, they will still be able to steal your funds.
Here are some of the benefits of using Seed XOR:
* It makes it more difficult for an attacker to steal your funds, even if they have physical access to one of the split seed phrases.
* It can be used to create #plausible #deniability, meaning that you can create a split seed phrase that contains only a small amount of funds, while keeping the rest of your funds in a separate split seed phrase.
* It can be used to create a duress seed phrase, which is a split seed phrase that contains only a small amount of funds that you can give to an attacker if you are being coerced.
If you are looking for a way to improve the security of your Bitcoin funds, Seed XOR is a good option to consider. However, it is important to understand the limitations of this security feature before you use it.
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The Tor network uses a proof-of-work (#PoW) protocol to secure its onion services. Onion services are websites and other services that are hosted on the Tor network and cannot be accessed from the clearnet (the internet that is not using #Tor).
The PoW protocol works by requiring clients to solve a #mathematical puzzle before they can connect to an onion service. The difficulty of the puzzle is adjusted #dynamically based on the load on the network. This helps to prevent #denial-of-service (DoS) attacks, which are attempts to overwhelm the network with traffic.
The PoW protocol also helps to protect the #anonymity of onion services. By requiring clients to solve a puzzle before they can connect, the protocol makes it more difficult for attackers to identify and target #onion services.
In simple terms, the PoW protocol makes it more difficult for attackers to:
* Flood the Tor network with traffic, which could disrupt the service for legitimate users.
* Identify and target onion services, which could expose the operators of those services.
The PoW protocol is an important security feature of the Tor network. It helps to protect the anonymity of onion services and makes it more difficult for attackers to disrupt the network.
Here are some additional details about how the PoW protocol works:
* The puzzle is a #cryptographic hash function that is designed to be computationally difficult to solve.
* The difficulty of the puzzle is adjusted dynamically based on the load on the network. This helps to ensure that the puzzle is difficult enough to prevent DoS attacks, but not so difficult that it prevents legitimate users from connecting to onion services.
* Clients must solve the puzzle before they can connect to an onion service. This is done by using a client-side application that generates random numbers and tries to find a number that satisfies the hash function.
* The PoW protocol is implemented in the Tor Browser. When a user connects to an onion service, the Tor Browser automatically solves the puzzle and connects to the service.
The PoW protocol is a valuable security feature of the Tor network. It helps to protect the anonymity of onion services and makes it more difficult for attackers to disrupt the network.
As of August 25, 2023, the latest on the #bitcoinmining pool software Stratum V2 is that it is still under development, but it has been released in a reference implementation (SRI) so that miners and pool operators can start testing it. The full release of #StratumV2 is expected in the coming months.
Stratum V2 is a major upgrade over Stratum V1, the current standard for bitcoin mining pool software. It introduces a number of new features and improvements, including:
* **By-default encryption and NOISE protocol authentication**, which makes the protocol more secure against man-in-the-middle attacks.
* **Optimized data transfer size and frequency**, which reduces the bandwidth requirements for mining.
* **Improved logic and framework**, which makes it easier for miners and pool operators to make changes and improvements.
* **Three new sub-protocols** that allow miners to select their own transaction sets, improve decentralization, and reduce the risk of censorship.
The release of Stratum V2 is a significant step forward for bitcoin mining. It is expected to make mining more efficient, secure, and decentralized.
Here are some of the specific benefits of Stratum V2:
* **Increased security:** Stratum V2 introduces by-default encryption and #NOISE protocol authentication, which makes the protocol more secure against man-in-the-middle attacks. This is important because mining pools are a central point of attack for hackers.
* **Improved efficiency:** Stratum V2 optimizes data transfer size and frequency between miners, proxies, and pool operators. This can reduce the bandwidth requirements for mining, which can save miners money on their internet connection.
* **Increased flexibility:** Stratum V2 improves logic and framework by letting miners and mining pools running V1 make incremental and modular improvements. This makes it easier for miners and #pooloperators to adopt new features and improvements.
* **Improved decentralization:** Stratum V2 introduces three new sub-protocols that allow miners to select their own transaction sets. This can help to decentralize bitcoin mining by giving miners more control over the blocks they mine.
Overall, Stratum V2 is a major upgrade over Stratum V1 and is expected to make bitcoin mining more efficient, secure, and decentralized.
A #hash function is a #mathematical #algorithm that takes an input of any size and produces an output of a fixed size. This output is called a hash. The hash function is designed to be one-way, meaning that it is impossible to reverse the process and get the original input back from the hash.
#SHA-256 is a type of hash function that is used in #Bitcoin. It takes an input of any size, such as a transaction record, and produces an output of 256 bits. This hash is then used to verify the transaction and to secure the Bitcoin network.
Here's how it works:
1. When someone wants to send Bitcoin to someone else, they create a transaction record. This record includes the sender's address, the recipient's address, and the amount of Bitcoin being sent.
2. The #transaction record is then hashed using SHA-256. This produces a 256-bit hash that is unique to the transaction.
3. The hash is then added to the blockchain, which is a public ledger of all Bitcoin transactions.
When someone wants to verify a transaction, they can take the hash of the transaction and check it against the blockchain. If the hash matches, then the transaction is valid.
The SHA-256 hash function is used in Bitcoin because it is very secure. It is very difficult to create a hash collision, which is when two different inputs produce the same hash. This makes it very difficult for someone to tamper with the Bitcoin blockchain.
In addition, the SHA-256 hash function is very fast. This makes it possible for Bitcoin miners to quickly verify transactions and add them to the #blockchain.
So, in simple terms, SHA-256 is a hash function that is used to secure the Bitcoin network. It is one-way, secure, and fast, which makes it ideal for this purpose.
In a recent report, #Fidelity's Director of Global Macro, #JurrienTimmer, made a bold forecast that the world's biggest cryptocurrency #Bitcoin (BTC) will reach $100,000 by the end of 2023 and an even more astonishing $1 billion by 2038.
Timmer based his prediction on the stock-to-flow model, which is a valuation methodology that compares the supply of a scarce asset to its current price. The model has been shown to be relatively accurate in predicting the price of gold, and Timmer believes that it can also be applied to Bitcoin.
According to the stock-to-flow model, Bitcoin's price should reach $100,000 by the end of 2023 and $1 billion by 2038. This is because the supply of Bitcoin is limited to 21 million, while the demand for Bitcoin is expected to continue to grow.
Timmer's prediction is based on a number of assumptions, including the following:
* The adoption of Bitcoin by institutions and businesses will continue to grow.
* The regulatory environment for Bitcoin will remain favorable.
* There will be no major security breaches or hacks of Bitcoin exchanges or wallets.
Of course, there is no guarantee that Timmer's #prediction will come true. However, his analysis is based on sound economic principles, and it is worth considering if you are thinking about investing in Bitcoin.
It is important to note that Fidelity is not the only investment firm that is bullish on Bitcoin. In recent months, a number of other large firms, including #GoldmanSachs and #MorganStanley, have also expressed positive views on the cryptocurrency. This suggests that the investment community is starting to take Bitcoin more seriously as a potential asset class.
Of course, there are also some risks associated with investing in Bitcoin. The cryptocurrency is still relatively new and volatile, and its price could go down as well as up. Additionally, Bitcoin is not regulated by any government, which means that there is no guarantee of its safety.
If you are considering investing in Bitcoin, it is important to do your own research and understand the risks involved. You should also only invest money that you can afford to lose.
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The Ark protocol for Bitcoin layer two was developed by #BurakKeceli, a self-taught Bitcoin developer and researcher. He proposed Ark in May 2023 as a solution to the scalability problems of the Bitcoin network. Ark is a layer-2 protocol that uses a different approach to scaling than other layer-2 solutions like Lightning. It does this by using intermediaries called Ark Service Providers (#ASPs) to provide liquidity and coordinate CoinJoin sessions.
Ark is still under development, but it has the potential to significantly improve the speed, security, and scalability of Bitcoin transactions. It is a promising new layer-2 protocol that could help to make Bitcoin more widely adopted.
Here are some of the key features of the #Arkprotocol:
* It uses a different approach to scaling than other layer-2 solutions, which could make it more scalable and efficient.
* It uses intermediaries called ASPs to provide liquidity and coordinate CoinJoin sessions, which could make it easier for users to send and receive funds.
* It is designed to be more privacy-preserving than other layer-2 solutions.
* It is still under development, but it has the potential to be a major breakthrough in Bitcoin scalability.
I hope this helps!
The #Ark project is a new layer-2 scaling solution for #Bitcoin that was announced in late 2022. It is designed to be more scalable and efficient than the Lightning Network, and it is still under development.
The Ark project uses a different approach to scaling than the #Lightning Network. Instead of using a network of payment channels, the Ark project uses a network of nodes that are connected to each other. This allows for more #transactions to be processed per second, and it also makes the network more #decentralized.
The Ark project is still in its early stages, but it has the potential to be a major player in the Bitcoin scaling space. It is being developed by a team of experienced engineers, and it has the backing of some major Bitcoin companies.
Here are some of the latest information regarding the Ark project:
* The Ark project has released a #testnet, which is a test version of the network that is used to test its functionality.
* The Ark team is working on a mainnet, which is the official version of the network that will be used for real-world transactions.
* The Ark team is also working on a mobile wallet, which will make it easy for users to send and receive Ark payments.
The Ark project is a promising new layer-2 scaling solution for Bitcoin. It is still under development, but it has the potential to be a major player in the Bitcoin #scaling space.
Here are some of the advantages of the Ark project over the Lightning Network:
* It is more scalable. The Ark project can process more transactions per second than the LightningNetwork.
* It is more efficient. The Ark project uses less bandwidth and energy than the Lightning Network.
* It is more decentralized. The Ark project does not rely on a central authority, like the Lightning Network does.
However, the Ark project also has some disadvantages:
* It is still in development. The Ark project is not yet as mature as the #Lightning Network.
* It is not as widely supported. The Ark project is not yet supported by as many wallets and exchanges as the Lightning Network.
Overall, the Ark project is a promising new #layer-2 scaling solution for Bitcoin. It has the potential to be more scalable, efficient, and decentralized than the Lightning Network. However, it is still in development, and it is not yet as widely supported.
The #Bitcoin #blockchain is designed to produce new blocks every 10 minutes on average. However, there is a natural variance in the #block creation time, which means that some blocks will take longer to mine than others. This variance is due to a number of factors, including:
The amount of #computing power that is being used to mine Bitcoin. The more computing power that is available, the more difficult it is to mine blocks, which can lead to longer block times.
The luck of the miners. The miner who finds the winning nonce first will be the one to mine the block, and there is an element of luck involved in this.
The network congestion. If there is a lot of traffic on the Bitcoin network, it can take longer for blocks to propagate, which can also lead to longer block times.
The average daily variance in Bitcoin block times is 2 minutes. This means that 95% of the time, the block time will be within 2 minutes of the average block time of 10 minutes. However, there are times when the block time variance can be higher. For example, during periods of high network congestion, the block time variance can be as high as 5 minutes.
The block time #variance can have a number of implications for the Bitcoin network. For example, it can make it more difficult for businesses to use Bitcoin for payments, as they need to be able to predict how long it will take for a transaction to be confirmed. Additionally, the block time variance can make it more difficult for miners to plan their mining operations, as they need to be able to estimate how much time it will take to mine a block.
There are a number of proposals to reduce the block time variance in Bitcoin. One proposal is to change the mining algorithm to one that is less susceptible to luck. Another proposal is to increase the block size, which would allow more transactions to be processed per block, reducing the amount of time it takes to mine a block.
The block time variance is a complex issue, and there is no easy solution. However, it is an important issue to consider, as it can have a significant impact on the Bitcoin network.
As of August 24, 2023, the latest information on #TornadoCash is that the two founders of the platform, Roman Storm and Roman Semenov, have been charged with money laundering and sanctions violations. The charges stem from the alleged use of Tornado Cash to launder over $1 billion in criminal proceeds, including hundreds of millions of dollars for the North Korea-affiliated hackers #LazarusGroup
Storm was arrested in Washington state on Wednesday, August 23, while Semenov remains at large. The U.S. government is offering a reward of up to $5 million for information leading to Semenov's arrest.
In addition to the criminal charges, Tornado Cash was also sanctioned by the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) in August 2022. This means that U.S. persons are prohibited from doing business with Tornado Cash.
The future of Tornado Cash is uncertain. The platform has been criticized by some for its role in facilitating money laundering, but it also has supporters who argue that it provides a valuable service by protecting the privacy of users' financial transactions.
It is possible that Tornado Cash will continue to operate, albeit in a more limited capacity. However, it is also possible that the platform will be shut down or that its developers will be forced to make changes to its operation in order to comply with the law.
The latest developments in the Tornado Cash case are a reminder of the challenges that regulators face in trying to combat money laundering and other financial crimes in the cryptocurrency industry. Tornado Cash is just one of many #cryptocurrency mixers that are available, and it is likely that other platforms will be used to launder money in the future.
The U.S. government is taking a tough stance on #moneylaundering in the cryptocurrency industry, and it is likely that we will see more enforcement actions like the one against Tornado Cash in the coming months and years.
The sci.crypt #Usenet newsgroup was created in 1985 by Phil Zimmermann, who is also the creator of Pretty Good Privacy (#PGP). The group was originally intended to be a forum for discussions on the technical aspects of #cryptography. However, it quickly became a place where people could also discuss the political and legal implications of cryptography.
In the early days, the group was very small and mostly consisted of academics and cryptographers. However, it grew rapidly in popularity in the late 1980s and early 1990s, as more and more people became interested in cryptography.
The sci.crypt #newsgroup has been a major forum for the development of cryptography. It has been a place where new algorithms and techniques have been proposed, debated, and refined. It has also been a place where cryptographers have been able to share their knowledge and expertise with a wider audience.
The sci.crypt newsgroup has also been a place where the political and legal implications of cryptography have been discussed. The group has been a forum for debate on issues such as export controls on cryptography, the use of cryptography by #terrorists, and the right to privacy.
The sci.crypt newsgroup is still active today, and it remains a valuable resource for anyone interested in cryptography. It is a place where people can learn about the latest #developments in cryptography, discuss the challenges and #opportunities of the field, and share their ideas with others.
Here are some of the notable events that happened in the sci.crypt newsgroup:
* In 1991, Phil Zimmermann posted the first version of PGP to the group. PGP is a free and open-source #encryption #software that allows users to encrypt their email and other files.
* In 1993, the US government attempted to ban the export of cryptography software. This led to a major debate in the sci.crypt newsgroup, with many people arguing that the ban was an infringement on the right to privacy.
* In 1996, the US government lifted the ban on the export of cryptography software. This was a major victory for the cryptography community, and it helped to popularize the use of encryption software.
The sci.crypt newsgroup has played an important role in the development of cryptography. It has been a forum for the exchange of ideas, the debate of important issues, and the promotion of the use of encryption software.
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The IRC #protocol was started in August 1988 by Jarkko Oikarinen, a student at the University of Oulu in Finland. He created it to replace a program called MUT (MultiUser Talk) on a BBS called OuluBox. The first #IRC server was named tolsun.oulu.fi.
The IRC protocol was officially defined in RFC 1459 in May 1993. It has since been updated several times, with the latest version being RFC 6456 in 2011.
IRC is a text-based chat protocol that allows users to communicate in real-time. It is used for a variety of purposes, including gaming, social networking, and technical support. There are many different IRC networks and channels, each with its own focus.
The oldest IRC channel is #irc, which was created in 1988. It is a general-purpose channel that is used for discussion about anything and everything.
IRC is still a popular chat protocol, although it has declined in popularity in recent years due to the rise of other chat platforms such as #Discord and #Slack. However, it is still used by many people, and it remains an important part of the Internet infrastructure.
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