Mt. Gox: Bitcoin Developer Explains Transaction Woes, Dismisses Rumours
Mt. Gox exchange wallet may have mangled transactions. In a candid discussion on Reddit, Bitcoin Developer Gregory Maxwell has provided some insight into the technical difficulties being faced by Mt. Gox and dismisses rumours of insolvency. His musings point to practical obstacles posed by Mt. Gox's use of the Bitcoin protocol and their custom wallet implementation. Insolvency - "just hysteria". First of all, it is noteworthy that Maxwell dismisses allegations of Mt. Gox's imminent insolvency as "just hysteria". But then, what exactly are the supposed causes of the massive disruption....
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Assuming you haven't already heard of a paper released by two researchers at Cornell University yesterday that suggested the Bitcoin currency is susceptible to a little something called 'selfish mining,' I will do my best to give you the Spark Notes version. The paper - put together by Ittay Eyal and Emin Gun Sirer - explains that rogue mining pools could possibly keep the discovery of a Bitcoin block private whilst other mining pools look for that very same block - expending mining resources. The point in keeping the block private is to allow the described 'selfish' mining pool to get....
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A new way of verifying blocks on the Bitcoin blockchain could make the digital currency more efficient. In the original version of Bitcoin, when nodes received a block of transactions, they would validate each transaction set. Most likely, these transactions were already validated before, when they were relayed across the network. However, this previous....
Bitcoin Core team’s website has announced the first successful zero-knowledge contingent payment. Unveiled by Gregory Maxwell, the protocol ZKCP was first proposed in 2011 on Bitcoin Wiki. The ZKCP transaction platform enables buyers and sellers to purchase data in a trustless way. The Core developer explains if one accepts the existence of the....