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Tag Archives: blockchains

How Can Banks Engage With Blockchain’s Radical Innovation?

By far, the blockchain technology is the most innovative financial creation throughout the past 200 years. Bitcoin, and cryptocurrency in general, are threatening the existence of the retail banking industry and many decentralization advocates think that the advent of bitcoin has triggered the countdown to extinction of banks. Consequently, the world’s top bankers have been researching how they can engage ... Read More »

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The Balance Attack – A Novel Type of Attack Against PoW Blockchains

Researchers, from the University of Sydney, identified a new type of attack, which they named the “Balance attack”, that can be launched against proof-of-work PoW blockcains such as ethereum’s and bitcoin’s. The attack is based on delay of network communications amongst groups of nodes that possess somehow balanced mining power. The theoretical analysis, of the authors of the paper, depicts ... Read More »

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Using Keyless Signatures To Promote Immutability of Permissioned Blockchains

The advent of bitcoin introduced the world to a new concept of “immutability” that promotes the transparency and efficiency of financial transactions. Once data is stored, it can never be modified or deleted, on a permissionless blockchain such as that of bitcoin, where anyone can contribute to the process of confirmation of transactions, i.e. mining, and have a countable vote, ... Read More »

Patent – A System For Exchanging Value Across Various Cryptocurrency Blockchains

Cryptocurrencies can be exchanged within a peer-to-peer environment, without relying on 3rd intermediary parties. Although exchange of value is possible using a single cryptocurrency, exchange of values across various coins’ blockchains is currently not possible without utilization of some sort of an intermediary party, such as cryptocurrency exchanges. To overcome this problem, a patent was introduced proposing an innovative system ... Read More »

An Overview Of Smart Contract Scripting For Cryptocurrency Blockchains

The blockchain technology offers secure means for recording information in a distributed, decentralized manner, which opened the door for using it to transfer value via cryptocurrecies. The blockchain technology utilized the concept of “smart contracts” which was coined by Nick Szabo in 1994, aiming at revolutionizing contract law and formal business practices via innovation of electronic commerce protocols between trustless ... Read More »

Bitcoin Blockchain’s High Security Will Lead Blockchain Startups to Pivot Back to Bitcoin

Banks and financial institutions have promoted the word “blockchain” as a mysterious piece of software that will bring billions of dollars to banking and save consumers millions of dollars in fees. The only issue with this is, with over two years of testing, research, and implementation, not a single successful demonstration has been released to the public. As such, the ... Read More »

World Economic Forum Publishes Flattering Report on Blockchain’s impact on the Financial Sector

On Friday, August 12th, the World Economic Forum published a 130-page report indicating the blockchain (otherwise known as Distributed Ledger Technology, or DLT) framework could have wide-reaching effects on mainstream financial technology, and the financial industry overall. Founded in 1971 for promoting global entrepreneurship and cooperation between the public and private sectors, the Geneva-based non-profit World Economic Forum collaborated with ... Read More »