Most people view the altcoin market as a place for testing out new ideas, and others view it as a sort of casino where people can gamble on the ups and downs of the volatile market. It seems that whenever someone believes they have an idea for improving upon bitcoin
, they launch some new kind of cryptocurrency to test out their theories in the real world. Many have noted that a lot of these new altcoins are nothing more than pump and dump scams, although there have also been a few legitimate forks of the bitcoin source code. One of the trends in bitcoin over the past two years has been the proliferation of altcoins.
Whether the Blockstream team is right about sidechains or not, it’s clear that we are about to see this experiment play out over the next few years. The bitcoin development process has been known to be a bit sluggish at times in the past, so it will be interesting to see if Blockstream can get the ball rolling on this change relatively soon. The theory seems to be laid out rather clearly right now, but we’ll have to wait to see if this upgrade happens.
In 2009, when Satoshi is presumed to have been a significant miner, the nonce value followed a particular pattern, as we discussed in an earlier piece. The Bitcoin nonce forms part of the block header, which is used by miners to provide entropy as part of the Proof of Work process, to try and find a hash meeting the difficulty requirement. Although it may depend on how mining software and cryptocurrency hardware is configured, in theory the distribution of the nonce values should be random.
Sidechains are a proposed solution to the creation of these new currencies. The people behind the concept have stated that new versions of everything from Dogecoin (announced recently about merged mining with Litecoin) to Ethereum (read more: Crypto 2.0: a Historical Look Inside) could be implemented as sidechains in the future. Instead of creating a new coin every time someone thinks of a new feature or use for cryptocurrency
, developers will now be able to use sidechains to attach the bitcoin currency to chains other than the main bitcoin blockchain. In other words, bitcoin sidechains are a way to combine all of the innovation happening in the altcoin space with bitcoin’s powerful network effects.
Abstract: We note that the distribution of nonce values in the Bitcoin block header does not appear to be random, with unexplained gaps emerging, where nonces occur less often. Although in our view the explanation for this is likely to be benign, it remains a mystery. We then speculate on why this may be the case and provide charts illustrating the phenomenon.
Secret Shares With Blakley method) . Secret shares (Blakley). This example uses the Blakley threshold secret sharing scheme. This example uses the Mignotte threshold secret sharing scheme. This example uses the Asmuth-Bloom threshold secret share scheme. Secret Shares With Chinese Remainder Theory (CRT) . Secret Shares With Chinese Remainder Theory (CRT) .
This example generates a shared key based on a shared password. This example generates a shared key based on a shared password and uses elliptic curve methods. Outline of SPEKE (Simple Password Exponential Key Exchange) using EC. J-PAKE (Elliptic Curve) . Encrypted Key Exchange (EKE) - Discrete Logs . This example generates a shared key based on a shared password, and crypto which is used to encrypted the Diffie-Hellman method. It uses discrete logs. This example generates a shared key based on a shared password, and which is used to encrypted the Diffie-Hellman method. It uses the sepc256k1. This outlines the Secure Remote Password protocol. SPEKE (Elliptic Curve) . Secure Remote Password (SRP) protocol . It is an augmented PAKE. Dragonfly (used in WPA-3) . Outline of SPEKE (Simple Password Exponential Key Exchange). Encrypted Key Exchange (EKE) - Elliptic Curves . The Dragonfly protocol is used in WPA-3.
Decentralized Marketplace The Phore Decentralized Marketplace is a real-world use for the Phore currency. An open-beta version of the marketplace is available now. Download the dAPP from the Marketplace page and start shopping.
The pattern began to emerge around the time many speculate covert AsicBoost started; and this pattern could be a quirk in the implementation of covert AsicBoost, which requires the manipulation of the nonce. It is possible that covert AsicBoost may be either a contributing factor or cause of the pattern. Although it’s possible that despite covert AsicBoost itself being stopped, the quirk in the firmware remains. However, the usage of covert AsicBoost is believed to have stopped in Bitcoin
in 2018, when this pattern continued.
Phore Blockchain enables the transfer of value across an accessible, standardized ecosystem that is secure, flexible and scalable. The platform supports a variety of applications and ventures which accord a growing range of capabilities including:
This is an example of RSA signing, in 12 lines of Python code. This outlines the RSA blinding attack, which tricks a user to sign a message. RSA Signing in 12 lines of Python (signed hash) . This page uses an offline/online signature scheme, based on the paper: "An online/offline signature scheme based on the strong rsa assumption". This is an example of RSA signing, in 12 lines of Python code. RSA Signing in 12 lines of Python . Offline/Online signature . RSA - blinding attack .