Altcoin spotlight: Heavycoin goes big on security
Bitcointalk.org forum member keccak512 announced in a post on March 8 a currency called Heavycoin, an altcoin that puts specific focus on security. The innovation that lends Heavycoin it’s, um, heaviness, is the fact that the currency’s blockchain is secured with four hash functions. It also notes that the SHA-256 hash function — on which Bitcoin relies and which is part of Heavycoin’s collection of hash functions, as well — should not be trusted on its own, as revelations from Edward Snowden have indicated. Heavycoin developers conclude that currencies with SHA-256 cryptography may be....
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Heavycoin is an interesting coin having been released a couple months ago. Here, an interview regarding the Heavy1 algorithm with the developer: Scrypt/adaptive-n is a single cryptographic hash function. Using a single cryptographic hash function as the basis for a crypto-currency is fine until that cryptographic hash function becomes weak, for example, due to advances in cryptography. You might think that would never happen, but it does. Cryptography does advance and the state-of-the-art changes. Cryptographic hash functions have limited lifetimes. Over time advances are made in....
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