Well there is NOW Monero Ransomware and i wonder who will be sniffing around now ?
1.0 To Transparent Blockchains. (i.e. The greatest antidote to "Backdoored Crypto" is to get rid of the walls).
A couple of years ago I wrote of encryption-based obfuscated blockchain technology:
Thats because slapping a pile of encryption on top of a bearer token thats already decoupled from any off-chain identity simply gives cover to attackers and hides their exploits from the view of those who have to back its value (the general public).
Not only that, it adds a whole new layer of fertile, human generated crap code in which to harvest those exploits. Now that harvest is starting to be reaped
...only as long as eagle-eyed geeks keep coming along and saving your bacon.
In other words, Obfuscated blockchain technology is flaky as f*k. Ok as the SSL of crypto but in terms of a store of value, about as secure as investing in time bombs.
(P.S. All the above exploits have been "fixed". So nothing to worry about
)
1.0 To Transparent Blockchains. (i.e. The greatest antidote to "Backdoored Crypto" is to get rid of the walls).
A couple of years ago I wrote of encryption-based obfuscated blockchain technology:
a swiss bank account for rich people except without the "trusted third party auditor (which in bitcoin is the eyes of the world - not an algo) and therefore a breeding ground for scams, heists, deceptions and (ironically) corruption
Thats because slapping a pile of encryption on top of a bearer token thats already decoupled from any off-chain identity simply gives cover to attackers and hides their exploits from the view of those who have to back its value (the general public).
Not only that, it adds a whole new layer of fertile, human generated crap code in which to harvest those exploits. Now that harvest is starting to be reaped
...only as long as eagle-eyed geeks keep coming along and saving your bacon.
In other words, Obfuscated blockchain technology is flaky as f*k. Ok as the SSL of crypto but in terms of a store of value, about as secure as investing in time bombs.
(P.S. All the above exploits have been "fixed". So nothing to worry about
)