Category Archives: Cryptography

DarkCoin

Reasons to be mournful
1) bitcoin is verrry slow(transfers to an exchange can take 1 hr)
2) bitcoin is not anonymous(some betting sites are not allowed to accept punters from none gambling states for example)
3) the blockchain is inefficient and bloated, for a 3rd world connection and old computer its almost a no go for the update.
4) being ASIC pillaged, is no longer mineable by normal humans
5) can only do about 8 transactions per second on the entire blockchain, so can not do entire global transactions, there are too many if that point was ever reached and it is random as well, sometimes a new block can take 20 minutes.
6) virtually no real software development on sorting out any of the above(apart from anon wallet but thats flawed because it’s centralized and has trusted key holders)

Reasons to be Cheerful,
1) darkcoin is anonymous and uses a decentralized trustless key system
2) darkcoin is mineable and extremely ASIC resistant
3) darkcoin has 1650 masternodes set up around the world that get paid a % of mining commission for hosting a decentralized network
4) darkcoin is using the unique masternode system, soon there will be an instant transaction service making cryptocoin validation time of probably less than 10 seconds. No other coin can do this.And it is not a random time for validation in the block creation sense either(InstantX)
5) max transactions ceiling is already higher due to shorter blocktimes and masternodes may game change this in the future by orders of magnitude if it is not enough.

by Dippy

Hashing, cryptocurrency and quantum computers

Basically, ECDSA is compromised, hashing isn’t. With a quantum computer, you could easily deduce the private key corresponding to a public key. If you only have an address, which is a hashed public key, the private key is safe. Anyway, to spend a transaction, you need to send the public key. At that point you are vulnerable, but the attack is not straightforward. Continue reading Hashing, cryptocurrency and quantum computers

CAST5

On 06/17/2012 11:56 AM, Sam Smith wrote:
> Curious as to why the encryption standard AES is not used to encrypt
> secret keys for GPG?

Because GnuPG predates AES. When GnuPG 1.0 came out AES has yet to be
invented. CAST5-128 was the choice back then, and nobody’s changed it
yet — at least partially because it doesn’t need to be changed: there
are no known attacks on CAST5-128.

> Do people generally change the cipher to AES when generating their
> secret key?

This is impossible to answer definitively, because nobody has a
perspective on what the whole of the GnuPG community is doing with our
gpg.conf files. That said, I think you will find only a minority of
users do this. I don’t, and I’ve never heard any of my correspondents
say that they do.