The big news in the Bitcoin world, is that one entity, called GHash, seems to be in control of more than half of all of the mining power. A part of Bitcoin’s appeal has been its distributed nature: the idea that no one party is in control but the system operates through the cooperative action […]
The importance of anonymous cryptocurrencies
May 7, 2014 by
Recently I was part of a collaboration on Mixcoin, a set of proposals for improving Bitcoin’s anonymity. A natural question to ask is: why do this research? Before I address that, an even more basic question is whether or not Bitcoin is already anonymous. You may have seen back-and-forth arguments on this question. So which […]
Bitcoin hacks and thefts: The underlying reason
April 15, 2014 by
Emin Gün Sirer has a fascinating post about how the use of NoSQL caused technical failures that led to the demise of Bitcoin exchanges Flexcoin and Poloniex. But these are only the latest in a long line of hacks of exchanges, other services, and individuals; a wide variety of bugs have been implicated. This suggests […]
Why Dorian Nakamoto Probably Isn't Satoshi
March 11, 2014 by
When Newsweek published its cover story last week claiming to have identified the creator of Bitcoin, I tweeted that I was reserving judgment on their claim, pending more evidence. At this point it looks like they don’t have more evidence to show us—and that Newsweek is probably wrong.
Understanding Bitcoin's transaction malleability problem
February 12, 2014 by
In recent days, several Bitcoin exchanges have suspended certain kinds of payments due to “transaction malleability” issues. There has been a lot of talk about why this happened, and some finger-pointing. In this post, I will try to unpack what “transaction malleability” is and why it has proven to be a problem for some companies.
