In a newly published paper on the use of bitcoin for illegal activity, researchers from the University of Sydney, the University of Technology Sydney and the Stockholm School of Economics in Riga indicate that a quarter of all bitcoin users are associated with illegal activity.
Owning cryptocurrency comes with its own set of challenges. One of the biggest of those challenges is managing the private keys that enable you to spend funds. Lose your private keys, and your money is gone.
In a business environment, a common way to manage funds owned by multiple people is via what’s called a multisignature (multisig) address, a type of smart contract requiring two or more parties to sign off on a transaction to move the funds.
As a way to eliminate bugs in high-risk code, a style of software programming known as formal verification is making its way into the blockchain world.
Put simply, formal verification uses math to specify and analyze a program for errors in logic.
Researchers from several European universities have joined the Initiative for Cryptocurrencies and Contracts (IC3), a research effort set up to develop new cryptocurrency systems.
Faculty members at ETH Zurich, Swiss Federal Institute of Technology in Lausanne (EPFL), and University College London (UCL) have become the latest to the join the initiative, which launched in 2015 with financial backing from the U.
The European wing of the RAND Corporation, a US think tank, has argued for a slow-and-steady process for developing possible standards around blockchain.
In a new report published on October 18 and prepared for the British Standards Institution (BSI) – the world’s first group of its kind and the official standards body for the United Kingdom – the think tank identified several areas that could be the target for standards developers.
The bitcoin price took a dive on Friday, initiating speculation that the market’s post-China hangover is not going away anytime soon.
Bitcoin entered the week on an incline, quickly recovering from its September 15 flash crash below $3,000. Within two days of that low-point, the bitcoin price had stabilized above $3,500. By September 18, bitcoin had cracked the $4,000 barrier for the first time since the downturn. However, bitcoin found itself unable to advance past that mark, and on September 21 it began to lose its footing.
Germany's central bank has published a new research paper centered on distributed ledger tech (DLT), exploring its use for payments, securities settlement and more.
Researchers from the Deutsche Bundesbank wrote in the paper that the tech "offers a number of benefits on account of the distributed storage of data" – highlighting both the potential opportunities as well as some of the practical challenges any application might create.
In an English-language explainer published alongside the paper (the original version is in German only), the German central bank noted that it doesn't see much of a role for the tech in consumer payments, arguing:
"The Bundesbank’s experts see little prospect of DLT being put to widespread use in the field of individual and retail payments given the current state of the art.
Regardless of its recent crackdown on bitcoin exchanges and initial coin offerings (ICOs), China's government still appears committed to the potential of blockchain in other areas.
According to a report by Caixin, the China Academy of Information and Communications Technology (CAICT) – a research institution under the Ministry of Industry and Information Technology – has launched a research facility called the Trusted Blockchain Open Lab in order to support the ongoing development of the technology in China.