Blockchain's SharedCoin Users Can Be Identified, Says Security Expert
Bitcoin users in need of serious transaction privacy should avoid popular services like Blockchain's SharedCoin and other CoinJoin implementations, according to a well-known security expert. Consultant Kristov Atlas, author of the book Anonymous Bitcoin, published a security advisory today saying weaknesses in SharedCoin offered privacy only from "unskilled examiners of the bitcoin blockchain" - and even then, only until more sophisticated analysis tools were made user-friendly enough for the average user to deploy. Blockchain CEO Nicolas Cary said he was satisfied with the research and....
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SharedCoin adds another layer of privacy by bundling numerous transactions before placing them in the blockchain, helping mask users from casual examination by outsiders. Unfortunately most consumers have little or no idea that there are different levels of security and what that means to their privacy concerns. We have to keep in mind that the public ledger is open to inspection at all times. Savvy users can use the above mentioned tools to actually track individual transactions in the ledger. There are more than a few corporations that conduct their business and even make payroll in....
Blockchain.info has stated that the issue is a database one, and the site would not be back online for at least several hours. It all started earlier today when Redditor /u/obione88 posted to /r/Bitcoin about a Shared Coin Transaction Error. Blockchain.info staff on Reddit promptly responded to the post. Additionally, they announced that the SharedCoin feature would be taken offline while they investigated. Soon after, Blockchain.info posted to their blog that SharedCoin would be suspended temporarily. They also provided answers as to the specific issue that was causing issues with the....
The security expert said that while PoS isn’t “theoretically” as secure as PoW, he admits it still has “sufficient practical security.” Despite the Ethereum Merge being touted as a major upgrade to the blockchain network, its transition to proof-of-stake theoretically makes it more vulnerable to exploit.Speaking to Cointelegraph, the security researcher explained that unlike proof-of-work (PoW) systems, a proof-of-stake (PoS) system informs node validators in advance what blocks they will validate, thus enabling them to plan attacks. The security expert, who asked not to be named, is a....
The idea of combining blockchain services and a cloud operating environment has always been desired, but was held back due to security concerns in the past. By launching blockchain services that meet the latest security standards on the cloud, IBM has just mitigated those concerns. On April 29, IBM announced that it had launched a new framework for securely operating blockchain networks on the IBM cloud, that are designed to meet existing regulatory and security requirements. IBM has utilized the services of its expert teams of security analysts, cryptographers and hardware specialists to....
A slew of critical vulnerabilities has recently been identified by the developers at DeFi security provider HashEx when examining the code of the SafeMoon DeFi project. The identified issues are so severe that users are being warned to stay away from the protocol for fear of losing their funds. As reported in a press release […]