In Part 1 of our article on blockchain security and cryptocurrency, we took a hard look at the core components that make up a successful cryptocurrency like Bitcoin. From the distributed network itself to the individuals who wish to own and use a cryptocurrency wallet to transfer or spend Bitcoin, security is key (pun intended) and very much a consideration at every stage. We ended our last article talking about the types of wallets available for conducting transactions on the network. This is where both choice and the potential for user or developer error come into play, especially when we discuss the types of wallets and, more importantly, the storage each type provides.
"The technology is a deadly combination of high value, high stakes, and low maturity."
Read the whole article for Part 2 here
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Thanks to Bitcoin, it’s fair to say that “blockchain” is a buzzword at the moment—like DevOps, or Zumba. This article isn’t going to dive into what a blockchain is, because many others out there already do that. Here’s a pretty good one that has a snappy description of the evolution of Bitcoin and its symbiotic buddy, blockchain. (I may have written that one as well.)
To some people, Bitcoin is a spoof currency trapped in a speculative bubble. To others, it and its alt-coin brethren are the future of financial exchange. In 2017 we saw a growing frequency of news about Bitcoin millionaires, lost Bitcoin tragedies, Bitcoin scandals, and various Bitcoin exchanges being hacked and shut down.
For the millions who have invested (or are considering investing) in cryptocurrencies such as Bitcoin, Litecoin, Ethereum, and the ever-growing list of alt-coins, little has been mentioned about the software and the infrastructure on which these cryptocurrencies are based. With all early adoption of technology, there is risk, so there’s a natural inclination to question the security of blockchain and the potential for cyber attack against it.
This special edition two part podcast was requested by Synopsys Software Integrity Group so you can read the show notes for it at the link below instead of the standard location at Codifyre.com
Read the whole article for Part 1 here