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Blockstream Publishes Schnorr-Based Test Code for Bitcoin Blockchain Upgrade

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The Schnorr-based multi-signature scheme MuSig, a take a look at code for a possible improve to the Bitcoin (BTC) blockchain, has been launched via blockchain tech company Blockstream, consistent with a press release published on Feb. 18.

Last January, 4 Bitcoin builders released a paper outlining how Schnorr multi-signatures (‘multisig’) may just assist scale the Bitcoin blockchain, announcing that the generation may just scale back its transaction dimension and “improve both performance and user privacy in Bitcoin”. In the paper, the builders state that MuSig is designed as “a protocol that allows a group of signers to produce a short, joint signature on a common message.”

Today’s announcement finds that MuSig has been became from an concept into usable code, whilst this week the code used to be additionally merged into secp256k1-zkp, a fork of secp256k1 representing “the high-assurance cryptographic library used by Bitcoin Core.”

In the publish, the builders give an explanation for their choice to expand MuSig via growing “a misuse-resistant API without sharp corners, and which doesn’t encourage dangerous usage patterns even in constrained environments.” The publish additionally stresses the need of making improvements to verification potency and creating provable safety within the public key type. MuSig signatures purportedly fortify privateness since they disguise the precise signer coverage.

However, for the reason that starting of the MuSig construction, its creators have reportedly discovered that a lot of already revealed signature schemes —  together with an previous unpublished model of MuSig — are insecure. The publish additional reads:

“MuSig signatures, just like Schnorr signatures or ECDSA, use in their construction a secret ‘nonce’ which must be produced uniformly randomly. Any deviation from uniform, even by a single bit, can lead to secret key loss and stolen funds.”

For now, the builders are asking neighborhood participants to check the code, which is reportedly posted on GitHub, and supply comments.

Bitcoin’s subsequent halving is expected to occur in May 2020. Bitcoin halving is an match that occurs more or less as soon as each 4 years, and then the volume of latest BTC created and earned via miners can be reduce in part.

In anticipation of the following halving, United States-regulated buying and selling and clearing platform LedgerX released a brand new form of by-product contract distinctive to BTC known as LedgerX Halving Contract (LXHC). The new product represents a binary possibility and reportedly “allows you to get a fixed payoff if the next halving block (#630,000) happens before a certain date and time. If the block is discovered after, the contract expires at zero.”

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NYSE files a trademark application for trading NFTs

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The world’s largest stock exchange may be planning to bring business into the Metaverse.

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Traders say $4,000 Ethereum back on the cards ‘if’ this bullish chart pattern plays out

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Global tensions that could trigger a correction in markets abound, but traders say ETH’s current setup could result in a swift return to the $4,000 level.

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CryptoPunks community reacts to the ongoing copyright battle between V1 and V2

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Although the collection is no longer deemed authentic by Larva Labs, its creators alleged sold 210 ETH worth of CryptoPunks V1 when the wrapped versions first gained traction.

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Binance.US is under investigation from SEC over trading affiliates: Report

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Binance CEO Changpeng Zhao allegedly has connections to two market makers buying and selling crypto on Binance.US.

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Boost Insurance unveils product covering against crypto theft from qualified custodians

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Boost Insurance, an insurance infrastructure-as-a-service platform, alongside go-to-market partner, Breach Insurance, a company that provides insurance technology and regulated insurance products for the cryptocurrency market, today announced the launch of Crypto Shield, an insurance product for cryptocurrency available to retail wallet holders.

Crypto Shield covers the theft of cryptocurrency while in the custody of a qualified custodian.

The Crypto Shield product allows individuals to purchase protection for their crypto wallets held by select custodians. In the case that the custodian is breached or suffers a social engineering attack resulting in lost assets, individuals insured under Crypto Shield can be reimbursed for the value of their policy.

Boost + Breach

While there is some commercial insurance available to cryptocurrency institutions, Breach envisioned Crypto Shield as a solution to the protection gap that currently exists for individuals holding crypto, securing a partnership with Boost to assist in bringing the Crypto Shield product to life.

Boost’s insurance infrastructure-as-a-service packages the necessary operational, technological, compliance, and capital requirements for new insurance programs into a white-label solution, enabling insurtechs like Breach to swiftly launch new lines of business.

“Boost’s deep expertise and insurance infrastructure-as-a-service platform, and Relm’s industry-leading crypto reinsurance capabilities, have positioned Breach to bring a highly complex insurance product to the market in a beautifully delivered customer experience.”
– Eyhab Aejaz, Co-Founder & CEO at Breach

To deliver that product in a seamless experience, Boost and Breach’s platforms connect via API, allowing Boost’s policy administration system to deliver back-end management for the Crypto Shield product. Breach’s customers are then able to purchase and manage every part of their policy and claims process, all from within Breach’s proprietary crypto insurance platform.

“With Boost’s infrastructure-as-a-service platform, companies like Breach can launch and deliver innovative new insurance offerings, at a fraction of the time and cost required to build a full-stack insurance program from scratch.”
– Alex Maffeo, CEO & Founder of Boost

In addition to powering the new product, Boost and Breach partnered to source and secure the necessary reinsurance backing from industry expert Relm Insurance Ltd. (Relm), underwritten by Trisura Specialty Insurance Company. Operating out of Bermuda, Relm is a capacity provider to the crypto sector with a track record of insuring companies across the ecosystem. Relm has recently been awarded an ‘A Exceptional’ Financial Stability Rating (FSR) by Demotech.

“Relm’s partnership with Boost and Breach to reinsure the US’s first cryptocurrency insurance product for retail wallet holders is a milestone in supporting the development of crypto and blockchain technologies.”
– Joe Ziolkowski, CEO at Relm

The post Boost Insurance unveils product covering against crypto theft from qualified custodians appeared first on CryptoNinjas.

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