The Steemit Crypto Academy Week 5 || Security problems in cryptocurrency || @gbenga


Today we will discuss the security problem of bitcoin that is given bye Professor @gbenga week

DBD7505D-A939-4D57-A519-9CFA3F270A6C.jpeg

crypto the security of bitcoin is rarely questioned as his back by the most powerful computer network in the world sorting of any proof of work attacks and advance Katta graffiti protect users addresses and funds from hackers also should we be questioning bitcoins overall security in my opinion yes as we should always be questioning learning and understanding all aspects because if you like me and bitcoin crypto is your life I don’t want to become complacent so today let’s dig down deep and discuss a few things that might just make you question the security a BTC.

First I would like to discuss is a distributed effort like a bitcoin Manipur trying to solve a block to be worn with DTC call the large bitcoin collider it is a network of computers pulling a computing resources together not to secure the bitcoin network by tempting to crack one of bitcoins cryptographic algorithms for trading wallet and addresses it is doing this by attempting to find a private key collision against wallets with no decline funds in the project has been running for a couple of years now and is currently generating over 14 36 million cheese per second or 37.7 1 trillion keys per day since the launch over 37,000 847 trillion total keys have been generated so has anything been found actually yes in total the project has cracked three addresses with minimum amount of funds on them as well as 27 other keys which are for puzzle addresses that are suspected to have been generated as easy bake for crackers Just one part of the OBC mission the other is to find a genuine cryptographic religion which would mean it’s possible to generate inputs that we put through the bitcoin address hashing algorithm generate an identical pair of outputs if this ever would happen and would have to use a new Curto graphic algorithm for addresses and this could affect people as back in February 2017 to shock the cryptographic world when I created a genuine question in the SHA1 algorithm shattering at security and ending its usefulness for good this brute force attempt as it stands doesn’t necessarily pose a threat more computers dedicate resources to the paraCracking techniques improved technology might need to evolve when SHA1 one first came out even believe it was on crack a ball the next thing I would like to bring up is a bit of a stretch but if this is true the ramifications for bitcoin security would be utterly shatter worst in finding a collision with LBC last year in June on bitcoin Block number 528,249 something strange happened Akash came up that certain traits about it that made the probability of it showing up very unlikely .

5DF07495-EC03-48C2-B4A7-F19094A31C19.jpeg

Here Yes that has now nothing super special upon first glance but when you look closer you see 20 18800 in this through the crypto world into a frenzy as many people were calling it a vanity hash deliberately created by minor with the encoded message this was supposedly significant because of the 21 standing for 21 million bitcoins the total supply and EA standing for the Ea Siri or the theory of everything and 00 scanning for the two extra zero Satoshi put in the genesis block.

C7F55146-C9C5-40AF-8184-C1EE8C44DE97.jpeg

If I tell from my experience, I will not lie. I was transferring my friend's team just a few days ago, one of my memo numbers went wrong in the balance account. A good bus in that steam went somewhere else. It did not come. Neither came to confirm it nor came directly to check, and she went to another's account and I went to Delhi crypto well and see that so much USDT went to another's account, so many thousands of HD's went to another's account. Gone is another big problem.

Thank you
@steemcurator01
@steemcurator02
@gbenga


Comments 4


Hello, thanks for participating in this week's assignment. Reading your post was discouraging not because I didn't want to go through it but because it wasn't properly arranged. You should work improve on using the steemit markdown

16.03.2021 14:13
0

Sir, I know, I wrote as I came, thank you for checking.
@gbenga

16.03.2021 14:49
0

Please next time, you could do well to translate the class to your native language so as to understand the task.

Thanks for being a part of the class

16.03.2021 15:21
0

Ok professor

16.03.2021 17:33
0