Why Implementing AOPP Could Pose A Risk To Bitcoin Long Term
The protocol isn’t negative but the rules it enforces are, and implementing it opens up a path for future compliance.A true fuss started on Twitter on Thursday as news surfaced that Trezor, a popular maker of Bitcoin hardware wallets, had integrated Address Ownership Proof Protocol (AOPP) to streamline the process of address verification for users withdrawing bitcoin from regulated exchanges, a requirement in some jurisdictions, CoinDesk first reported.Trezor released a statement on Twitter soon after the Bitcoin community started raising questions in regards to the initiative.“Not....
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The Address Ownership Proof Protocol or AOPP might’ve been the most sophisticated attack on Bitcoin so far. With a fairly benign protocol that only affected people in Switzerland, the powers that be infected some of the most respected wallets in the space. Only people who bought Bitcoin at Swiss centralized exchanges and were already fully […]
One week after introducing the Address Ownership Proof Protocol, or AOPP, the hardware wallet company backtracked on its decision due to customer privacy concerns. Since 2019, Swiss financial crypto intermediaries have required proof of ownership of an external wallet's address for Bitcoin withdrawals and deposits to their customers' non-custodial wallets. One automated mechanism used for this is the Address Ownership Proof Protocol, or AOPP. The Trezor hardware wallet introduced AOPP signing as part of its latest January update last week, allowing users to generate signatures that....
Rapid progress in quantum computing could pose a risk to certain types of bitcoin transactions. So how can we combat this risk?
Du Jun, CEO of Huobi Global, told Cointelegraph that the Terra crash will slow down investor enthusiasm in the short term, but in the long term, the demand will recover. As the fall of Terra (LUNA) and TerraUSD (UST) may have a noticeable short-term impact on the decision-making of both retail and institutional investors, it doesn’t pose a risk to the larger crypto ecosystem, according to Du Jun, CEO of Huobi Global CEO. In an interview with Cointelegraph, Jun explained that the collapse of Terra will affect the ecosystem by slowing down investor interest in crypto as an asset class.....
Bank of England Deputy Governor Jon Cunliffe believes that cryptocurrencies are not big enough to pose financial stability risk. “They’re not of the size that they would cause financial stability risk, and they’re not connected deeply into the standing financial system,” said the deputy governor. Crypto Poses No Financial Stability Risk, Says Deputy Governor of Bank of England Jon Cunliffe, the deputy governor of the Bank of England, talked about cryptocurrency and whether it poses financial stability risk in an interview with CNBC Wednesday. He said: The....