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Coinbase Custody has conducted its first OTC trade directly from cold storage. Coinbase Custody, the custodial tool of United States-based crypto exchange Coinbase, has completed its first over-the-counter (OTC) trade from cold storage, according to a blog post published on March 13. The post reveals that Coinbase Custody is now directly integrated with Coinbase’s OTC desk, which enables customers to use the OTC desk to price and confirm trades prior to moving funds. The product purportedly provides easy and immediate liquidity on users’ offline funds, meaning that it now takes less time for Custody users to get access to their funds and avoid the waiting period to access them. In February, co-founder and CEO of Coinbase Brian Armstrong outlined what he believes to be four common misconceptions about crypto custody solutions. Armstrong’s arguments tackled the perception that hot storage is always necessary to provide the flexibility and speed required to execute trades. Armstrong note..
Next Generation ‘Hardware 2.0 Wallet’ is Eradicating Storage to Improve Security From initial coin offerings to cryptojackers, security is a big issue when it comes to cryptocurrency. Just recently a whopping $16 million in Ethereum and ERC20 was reported stolen from a New Zealand exchange. Human error can also pose a serious threat to the safety of cryptocurrency. Perhaps it is something that not many would be proud to admit, but 2017 data suggests that there are four million Bitcoins in total lost in the wild. That’s around $13.6 billion worth of tokens that remain unclaimed or sit dormant in long-forgotten accounts. Key-Free EncryptionIf you have ever had a cryptocurrency wallet, you are probably familiar with the long alphanumeric strings or “keys” that are used to identify and log in these accounts. A Private key allows users full control over their account even without possession of its “public” equivalent. If lost, the account is nigh on impossible to access to the “master seed..
The new Samsung Galaxy S10 features a storage system for private keys for blockchain-related systems. The new Samsung smartphone, the Galaxy S10, will include storage for private cryptocurrency keys, according to an official press release on Feb. 20. Samsung announced the launch of its new phone today in Seoul, San Francisco and London, which includes the Samsung Knox function. Per the press release: “Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.” Ahead of the S10’s release, rumors abounded regarding the phone’s possible configuration and support for cryptocurrency wallets and DApps. Last month, images surfaced that allegedly portrayed a “Samsung Blockchain Keystore” on the Galaxy S10. The reportedly leaked photos featured an Ethereum (ETH) wallet option in the “supported cryptocurrencies” list. No such wallet was mentioned in today’s press release. Samsung is ..
sponsored The company behind a crypto hardware wallet says users can surpass cold storage — all thanks to new technology. A payments technology company has created a hardware wallet that addresses the “flawed approach” used for cold storage — and eliminates the physical storage of private keys. Instead of storing private keys on a device — a “potential security problem” — Bitfi says it has developed technology that does not store any data or private keys. Instead, the company’s hardware uses a deterministic algorithm to calculate the private key at the moment of a transaction. This means that the private key comes into existence for a fraction of a second and vanishes immediately afterward. This technology is meant to overcome the risk of total loss should a hardware wallet be lost, seized or stolen. Bitfi recommends creating a seven-word passphrase by using its Diceware method, which offers greater entropy. However, the company says that those who own its wallet have the option to ..
Ledger published a post apologizing for how a recent software update for the Ledger Nano S decreased the device’s storage capacity. French cryptocurrency hardware wallet company Ledger published a post on its official blog on Feb. 14 apologizing for issues with a recent firmware update for its Ledger Nano S. Specifically, the update reportedly decreased the device’s storage capacity, which the firm has promised to remedy. “This was not planned obsolescence, simply put, we messed up. We apologize and we’re committed to making it right,“ the post states. Some users had interpreted the firmware version 1.5.5 update as a way to bring planned obsolescence to the Ledger Nano S. The reason for the suspicion is that the update was released shortly after Ledger’s announcement in January revealing its new Bluetooth-enabled Ledger Nano X wallet. Reportedly, the new wallet’s main advantage over the Nano S is increased memory capacity. The company claims that the purpose of the update was to imple..
Leading Decentralized Storage Innovator Lambda Announces Exclusive Listing on BitMax.io Cryptocurrency...
This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release. Singapore — December 28, 2018 — Lambda, the leading decentralized infrastructure project providing innovative unlimited and scalable data storage capabilities on the blockchain, will be listed on BitMax.io (BTMX.com), the reputable and innovative digital asset trading platform founded by a group of Wall Street veterans. Lambda has selected BitMax.io to manage its primary token listing on its cryptocurrency exchange platform. Each token will sell at USD $0.01. Lambda is on the ethereum blockchain, and the LAMB is an ERC20 token. The listing goes live today, December 26, 2018. The partnership is a testament to Lambda’s ..
E-commerce giant Amazon has won two patents related to methods for protecting the integrity of digital signatures and improving data storage in distributed computing networks. E-commerce giant Amazon has won two patents related to methods for protecting the integrity of digital signatures and improving distributed data storage. The two patents were published by by the U.S. Patent and Trademark Office (USPTO) today, Nov. 13. The first patent document, first filed in April of this year, outlines a “signature delegation” method for “protecting the integrity of digital signatures and encrypted communications,” by allowing for the generation, distribution, validation, and revocation of one-time-use cryptographic keys. In the proposed system, these keys are arranged in what is known in cryptography as a “Merkle Tree” structure, which is a binary tree of hashes constructed from the bottom up. As tech media platform Hackernoon outlines, Merkle Trees are a “fundamental part” of blockchain syst..
Bank of America has gained over 50 blockchain-based patents so far in what executives say is a plan to “be prepared.” Bank of America (BoA) has gained a further cryptocurrency-related patent, a filing confirmed Oct. 30, continuing its efforts to “be prepared” for the industry’s future growth. The latest award, which adds to the bank’s mounting stack of cryptocurrency and blockchain patents, references storage methods for private keys. Specifically, the filing reads, current opportunities for ensuring private keys remain untampered with are insufficient. “[W]hile many […] devices may provide for acquiring evidence of a security breach (i.e., physical or non-physical tampering with the device and/or the data), such devices do not provide for real-time response to such breaches, such that misappropriation of private cryptography keys is prevented,” BoA writes. The patent filing continues: “Therefore, a need exists for a secure means for storing private cryptography keys. The desired stor..
Advertisement This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. Blockchain technology is big news these days. With so many new startups and platforms developing products and services they claim will change the world, and millions of dollars of development funds thrown into the mix, unsurprisingly, some operations will fall victim to a cyber attack of one kind or another. A cast-iron, 100% guarantee of total protection is likely far off in the distant future, however it pays to be as prepared as possible, with the strongest defenses possible in place to ward off an attack. A recent incident involving trade.io surely demonstrates this. What is trade.io? trade.io is a customizable, blockchain-based, next-generation financial platform that claims to offer users the pinnacle in security and transparency. trade.io boasts decades of expertise in such fields as investmen..
Advertisement This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release. Bitcoin Press Release: At 08:40 EST 20 October 2018, the trade.io security team was alerted to a large transaction originating from our wallet holding 50M Trade Tokens (TIO) owned by trade.io reserved for the liquidity pool. Immediately following the alert, our trade monitoring observed abnormal trading of TIO on external exchanges. 24th October 2018. Lugano, Switzerland. These exchanges were immediately alerted to disable deposits/withdrawals and trading of TIO, and our security team began its investigation. The responsiveness by the various teams within trade.io prevented the situation from deterioratin..
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