ENTRIES TAGGED "bitcoin"
Over time, crypto-currency networks such as bitcoin will get stronger
If a crook gets access to the credit card or wire transfer networks, it’s a disaster. That’s because, as I explained in my recent article about security models, these traditional financial networks achieve trust by excluding bad actors through access control. Effective access control requires exclusivity and strict vetting, only a small carefully vetted group of “trusted actors” are granted control.
Bitcoin and other crypto-currencies based on the blockchain invention are different. Trust is based on computation, not access control. On the bitcoin network you trust math so everyone can have access. That also means that there will be bad actors, arguably just as there are on access control networks, and nuisance attacks. Fortunately, these types of attacks cannot affect the distributed asset ledger, the blockchain, because to achieve the level of trust to write into the ledger you must apply enormous distributed computation. The root of trust is in the majority of computing power, not individual actors or any central authority.
Digging into in-app purchase data, Bitcoin draws attention outside tech, PayPal and HomeDepot expand point-of-sale trial.
Study finds that users who wait to make their first in-app purchase are worth more. Also, Bitcoin's popularity is rising, and PayPal expands its point-of-sale program. (Commerce Weekly is produced as part of a partnership between O'Reilly and PayPal.)
PayPal has a big vision for single sign on, and a reporter searches for Bitcoin's creator.
PayPal Access is a single sign-on tool that enables transactions — and it’s got sweeping ambitions. Elsewhere, a reporter searches for Bitcoin’s developer. (Commerce Weekly is produced as part of a partnership between O’Reilly and PayPal.)