While short term investors and speculators might not be in the best of shape right now, the long term development of the ecosystem is still advancing on pace. Companies and institutions are continuing to invest time and money for furthering cryptocurrency research as can be seen by the stories featured in today’s edition of Bitcoin in Brief.
Also Read: Alleged Fraudster Arrested in China Over $15M Mining Hardware Con
Preventing the Next Mt. Gox
Nchain, the BCH-focused R&D firm, has announced the issuance of its second patent by the European Patent Office, entitled “Determining a common secret for the secure exchange of information and hierarchical deterministic cryptographic keys.” This Deterministic Key Generation technique is said to provide for improved secure communication between a pair of nodes, while being able to keep their private keys secret. The company explains that it has already been using the technique as part of its work with SBI BITS in Japan, the subsidiary of SBI Holdings, and that its publicly available SDK offers the patented technique for any developers that need it.
Nchain CEO, Jimmy Nguyen, stated: “The Deterministic Key Generation technique will help prevent Mt. Gox-type hacks of cryptocurrency exchanges and wallets. But its potential use cases are far greater as the digital world grows with increased digitisation of assets, cloud storage of data, newer methods of digital communication, and the anticipated explosion of Internet of Things devices. The invention can provide significant security benefits for any situation in which sensitive data, assets, communications or controlled resources need to be secured.”
Stanford Research Center
A new Center for Blockchain Research has been founded by leading computer scientists at Stanford University. The center will be headed by professors Dan Boneh and David Mazières,
