Paper wallets are the safest way to store cryptocurrency.
That’s a generalization, and of course the “safest” way to store tokens varies depending both upon your circumstances and what you consider safe. But generally peaking, depite numerous debates that will undoubtedly continue, the fact remains this is the most secure method for storing cryptocurrencies. That’s because you minimize the electronic attack surface, reducing the defense to the physical realm.
There are dangers and pitfalls with paper wallets to be fair, but they are entirely avoidable. That’s what this post is all about – debunking the popular notion that paper wallets are a good choice in theory, but not in practice! Let’s see how it goes, and please – to the makers of hardware wallets, I use your products and love them, it’s not personal.
Continue reading “Paper Wallet Myths Debunked!”
This project made headlines recently when a busy hub of trading was compromised and about 6% of the currency was stolen. Some fair weather investors along with many of the speculators got scared off.
Yet NEM seems to be weathering the worst of it and continues to hold the line. Perhaps those with a longer view may have seen their buying opportunity. I think this is the correct interpretation, tell ya why if you read on.
Continue reading “NEM survives first disaster – 6% of tokens stolen”
More scams, hacks and exploits this week – starting the new year out with lots of activity! First up – the biggest theft of tokens ever reported.
Japanese exchange Coincheck got hacked a couple days ago for $533 million USD worth of NEM tokens. Apparently the exchange was overwhelmed with activity and never got around to fixing their system, which was simply to conduct all trades from an online “hot” wallet. This is one of the classic fail moves memorialized by MT Gox back in the day – not keeping most money offline in cold storage, then getting hacked.
Continue reading “weekly blockchain security roundup”
is a company building a smart contract auditing platform. The Quantstamp network will consist of validator nodes running tests against smart contracts, reaching consensus about the results, and producing audit reports from those results.
Quantstamp is also a network protocol, and there’s an ERC-20 token associated with the project trading by the symbol QSP. This token is used in the system to initiate audits and to reward participants, but more on that later. Let’s take a look at the protocol first.
Quantstamp’s stated goal is to create a protocol that can someday be merged directly into the Ethereum codebase. This protocol is basically a meta-protocol riding on Ethereum. That is to say, Ethereum network handles the transaction detail and publishing of blocks, and Quantstamp handles all logic for the security audit function.
Continue reading “Intro to Quantstamp”
Monero is a blockchain focused on providing an useful, secure, and anonymous currency above all else. How well they do that, or the details about their decidedly unique blockchain will have to wait. This post is all about why Monero will thrive in 2018.
The most common use for Bitcoin is to hodl it, since BTC has proven to be a resillient store of value in recent years, but not so with Monero. Monero is a much younger blockchain, and it’s all about being a usable currency – a useful means of exchange.
One indicator that a blockchain is viable in the marketplace is that usage is stable or increasing over time.
So how can we really tell actual use apart from speculating and other activity?
Continue reading “Monero – a bullish outlook for 2018”