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Knowledge Protocol. Daily curated links from the space of blockchain, bitcoin, tokens, cryptocurrencies and protocols. No news, no bullshit, deep knowledge only.

Security

Links to the best articles, videos and podcasts about Security in the crypto space.

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The Most Expensive Lesson Of My Life: Details of SIM port hack

"I lost north of $100,000 last Wednesday. It evaporated over a 24-hour time span in a “SIM port attack” that drained my Coinbase account. It has been four days since the incident and I’m gutted. I have zero appetite; my sleep is restless; I am awash in feelings of anxiety, remorse, and embarrassment."

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Bitcoin’s Security is Fine

"This article comprehensively addresses concerns around Bitcoin’s security model which is funded by the block subsidy and transaction fees."

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If bitcoin is so safe, why does it keep getting hacked?

"Thieves have stolen millions of dollars in bitcoin from exchanges. Here’s why it keeps happening."

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Rewriting History: A Brief Introduction to Long Range Attacks

"One of the greatest threats against Proof of Stake protocols is Long Range attacks. Due to the existence of Weak Subjectivity and Costless Simulation, these attacks are more dangerous than in Proof of Work protocols."

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A Timeline of the Most Infamous 51% Attacks in Crypto History

"Proof-of-work cryptocurrencies solve the Byzantine General's Problem and allow for the coordination of a decentralized network of nodes, where some of those nodes may be bad actors. This does, however, creates an attack surface for proof-of-work cryptocurrencies, known as a 51% attack."

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Breaking Down the “Flash Boys” DEX Trading Bots Bloomberg Article

"It’s great to see this type of thing picked up by larger media outlets, but while it highlights a lot of interesting points, some of the concepts in the bloomberg article are pretty vague and oversimplified. For example, the main front running problem with DEX’s discussed only applies to a specific type of DEX — others have already solved this."

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MFSA warns, guides consumers on crypto-currency scams

"Educates public on how to avoid such scams"

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Security Budget in the Long Run

"Bitcoin’s “security budget” is the total amount of money we pay to miners (or, if you prefer, the total amount spent on mining – they are the same thing). When this value is low, 51% attacks are cheap."

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Anti-money laundering and counter-terrorist financing measures

"This report summarises the anti-money laundering and counter-terrorist financing (AML/CFT)measures in place in the United Kingdom of Great Britain and Northern Ireland (UK)as at the date of the on-site visit from5 to23 March 2018."

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Security Budget in the Long Run

"A discussion of Bitcoin’s ability to resist 51% attacks (ie, its “security budget”). Competition makes it difficult for one network to collect enough fees – instead, we should try to collect fees from all networks."

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How to Find Freedom in a Unfree World

"I recently re-read “How I found Freedom in an Unfree World” by Harry Browne. This book provides a wonderful guide on how to take responsibility for your own freedom and avoid various mental-traps that deny us far more freedom than governments do."

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Secure wallet systems

"In summary, a commercial wallet based on a “Secure Split Key” or threshold system can secure a digital wallet, or another type of resource for that matter"

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Security Budget in the Long Run

"A discussion of Bitcoin’s ability to resist 51% attacks (ie, its “security budget”). Competition makes it difficult for one network to collect enough fees – instead, we should try to collect fees from all networks."

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A Review of Budish’s 51% Attack Theories - What is the Fair Price of An Old ASIC?

"Eric Budish, a Professor of Economics at the University of Chicago, recently published a working paper called “The Economic Limits of Bitcoin and the Blockchain,” in which he argues that the theoretical threat of a majority attack (a.k.a. 51% attack) in Bitcoin is much higher than we believe."

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“Fake Stake” attacks on chain-based Proof-of-Stake cryptocurrencies

"In a permissionless cryptocurrency network, peers must not be trusted. So, to prevent against resource exhaustion attacks, Bitcoin nodes first check the PoW for any received blocks before committing more resources, such as storing the block in RAM or on disk. However, it turns out that checking a Proof-of-Stake is a lot more complicated and context-sensitive than validating a Proof-of-Work."

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The EVM Is Fundamentally Unsafe

"An in-depth examination of the Ethereum Virtual Machine vs. Kadena’s Pact smart contract language"

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Game theory is one of the most important concepts to grasp to understand blockchains/crypto, strategy, and decision making.

"Game theory is one of the most important concepts to grasp to understand blockchains/crypto, strategy, and decision making."

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Public Key Cryptography — A Comprehensive Guide

"In this post we will explore a concept that plays a foundational role in ensuring information and computer security — Public Key Cryptography. Since this fascinating idea is the heart of blockchain technology, we will dive into its history, grasp how it works and examine the practical applications in the context of blockchains."

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