Bitcoin Silent Payments And Secret Blinding Keys
One issue with Bitcoin’s privacy, the ability to receive funds without giving up valuable information, is addressed with “silent payments.”Bitcoin is one of the most pivotal breakthroughs in the entire digital age in terms of transferring value between one person and another. It does not require intermediaries. It is secured by a decentralized quorum of miners and validated by every participant on the network who chooses to in order to guarantee the validity of individual payments. The architecture of the system is designed to allow anyone from anywhere on the planet to receive money from....
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The Silent Payments proposal could help users make bitcoin transactions more privately, but how does it work and why do we need it?
By sharing a secret between a receiver and sender, then scanning the Bitcoin blockchain for the transaction, users gain more privacy thanks to a new proposal.
Silent payments improve user privacy and are similar to stealth addresses and reusable payment codes, but actually save space on the Bitcoin blockchain.
In a discussion on the Silk Road forums on the so-called darknet this weekend, some information has come to light regarding Silk Road 2.0 - the second iteration of the online drug marketplace which opened one month following the famous Silk Road shut down by the feds. In the post, 'Defcon' makes users aware that the second Dread Pirate Roberts (also known as "DPR") has gone silent this weekend. The news comes not long after others involved with the operation were taken into custody by authorities. "Three of our crew were lost, and our Captain was forced into exile," wrote Defcon on the....
San Francisco-based Coinbase announced improved security with new API keys on Friday. A good number of users of Coinbase's services have previously experiencing issues with API keys, particularly theft of their funds - so the news is much-awaiting by those in the community. For starters, the company says users will now have access to multiple API keys, with separate permissions (including IP whitelisting). This means that no longer will users have to share one key between applications (especially if it had global permissions enabled, which increased the risk of something bad happening). In....