CoinFest Democratizes Global Wallet with 12-of-15 Multisig
CoinFest was the first decentralized convention for digital currencies, occurring simultaneously around the globe. It has always been an open source movement, allowing anyone to host a CoinFest of their own, but the technology for a true decentralized autonomous organization has unfortunately not been developed. The CoinFest leadership, however, has been preparing for the revolution. They began experimenting with multisignature (or "multisig") Bitcoin technology right before CoinFest 2015, utilizing a 5-key wallet with 4 signatures required. The goal is to come as close to full consensus....
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CoinFest started in 2013 at Waves Coffee House, where the world's first Bitcoin ATM was later installed by CoinTrader. Non-profit and true to the open source movement, there has never been any patent or copyright associated. It grew from a hundred people gathered in Vancouver, to several hundred simultaneously across Canada, with awesome partners like the Decentralized Dance Party in 2014. Returning again in February in 2015, CoinFest has since spread to 25 cities around the world. CoinFest.org's funds are held in a multisignature wallet, with the funding scheduled to be distributed to....
Today, 13% of Bitcoin is protected by multisig technology. A growing minority of Bitcoin users employ a multi-signature wallet, which uses more than one private key to access the wallet. By using this approach, wallets are much less vulnerable to security breaches, as no single party possesses all the information necessary to decrypt the wallet. Princeton professor Arvind Narayanan tweeted about the significance of the multisig uptick: More cryptocurrency wallets offering multisig support. More Bitcoin wallet providers have recently enabled multisig functionality, as it seems to be headed....
It's that time of year again. February. Cold, dark, windy commutes to work. Slow news days in the world of sports. And the burgeoning global event that is the fourth-annual Coinfest, circa 2015. Last year, only three cities were in attendance. Yet, with the dramatic changes and growth in the Bitcoin industry just in 2014, Coinfest 2015 is set to be the largest Coinfest ever. It has now grown 300% to include one dozen cities worldwide in their annual winter Bitcoin awareness event. Coinfest: A small idea gone global. The idea behind Coinfest is surprisingly easy to implement on a global....
When I first started organizing CoinFest, I never imagined what it would become. It used to be just a simple gathering of less than 100 Bitcoiners at Vancouver's famous Wave Coffee House, come together to celebrate the love of cryptocurrency. Not long after, the team behind CoinTrader brought the world's first Bitcoin ATM to the scene, and CoinFest gradually expanded into a decentralized convention across multiple venues. Now it's expanded around the world, spanning 7 cities and 5 languages so far, but as word of the movement spread, we were confronted with a lot of questions about how and....
CoinFest-the first decentralized convention about decentralized currencies-will be returning for 2016. Known for its open source and free-to-attend nature, as well as the cryptocurrency-only rule, the community decided to move the date from February to April. CoinFest is building off of the success of CoinFest 2015, when it spread from Canada to being a worldwide celebration. The CCFR brought the decentralized festival to Moscow and St. Petersburg, despite the ongoing Bitcoin ban in Russia. A blockchain-based registration system was demonstrated in Colombia and Ghana, and Mr. Bitcoin made....