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How ethbox Keeps Your ETH Transactions Secure at All Times with a Passphrase

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ethbox is the best security and privacy platform on the market for your transactions on the Ethereum blockchain. More people are using ETH these days to pay for services, purchase goods and more—but security is important.

While there are other privacy-based coins like Monero—hardly anyone uses these. They aren’t common coins for major transactions. ETH is fast becoming one of the most-used currencies on the planet, for all sorts of reasons but make sure your transactions are completely secure, at all times.

With ethbox, you’ve got all the protection you need to safely send and receive ETH affordably and securely.

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How ethbox keeps you secure

ethbox uses a two-factor security protocol to keep transactions extra secure. All transactions use the ethbox smart contract to authenticate information about the transaction. For a small additional fee, ethbox also makes sure important information about the transaction isn’t made public on the internet (unlike many other solutions). The address of the sender and receiver of funds are obscured so that nobody else knows who they are. In any normal transaction, this sort of information is shown publicly, and it doesn’t create the safest way to send and receive ETH.

The power of ethbox’s passphrase technology

The use of a passphrase is crucial for providing the next level of security for ethbox users.

The passphrase can’t be stored in clear-text as this would not be secure, as the data in the smart contract can be viewed by anyone. To get around this, the smart contract stores the hash value of the passphrase.

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Initial inputs that created the hash are impossible to retrieve and make the passphrases completely secure.

Passwords that are stored on databases without this kind of encryption can be hacked and retrieved. With ethbox, hacking is impossible and only the right people can access funds and complete transactions.

Using a Keccak-256 / SHA-3 hash value to encrypt passphrases, it’s impossible to reverse the process to unlock a passphrase.

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These key features are actually underlying parts of Ethereum blockchain technology, so ethbox works perfectly in this setting—making passphrases unbreakable.

ethbox is able to validate any passphrase that it is told by a user without knowing the actual passphrase, an advantage over many other password protection protocols. This keeps it completely secure without the need for 3rd parties.

For users to retrieve funds, they’ll be required to enter the passphrase correctly. ethbox will compute this passphrase’s hash with the hash of the correct phrase it has stored in the smart contract, without the actual passphrase ever being known or made public.

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ethbox offers the strongest protections in the world. Estimates show that while a brute-force attack might be theoretically possible, this would take around 10,000 years to actually work. That means breaking ethbox encryption is practically impossible.

On top of having the securest ETH transaction solution available, ethbox offers fees that are  affordable and even free for smaller transactions.

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Bitcoin Will Significantly Underperform Altcoin Market As New Crypto Price Era Unfolds: Pantera Capital’s Dan Morehead

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The founder and chief executive officer of Pantera Capital says that investors can expect altcoins to outperform Bitcoin (BTC) in the long term.

In a recent edition of Pantera’s Blockchain Letter, the head of the digital asset management firm outlines Dan Morehead’s key quotes from the SALT 2021 conference in New York. During the conference, Morehead said that even though his company has greatly profited from BTC, he emphasized that most future crypto gains will come from altcoin investments.ADVERTISEMENT

“My perspective is: Bitcoin has been amazing – Pantera Bitcoin Fund is up 67,000% since inception. However, I think the majority of future gains will be from tokens outside of Bitcoin. I know that sounds heretical to some people here, but that’s my professional opinion.”

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Morehead compares the rise of Bitcoin and its competitors to that of the tech industry boom during the late 1990s.

“It’s like saying in 1998 that [the] majority of future tech gains would come from outside Microsoft.

At the time, Microsoft was worth $218 billion, Apple $3.5 billion, Amazon was $2.2 billion. Google and Facebook were zero – they didn’t even exist. In the years since Microsoft did great – it went up 10x. However, 80% of the tech gains in these five stocks came from outside Microsoft.

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That’s the view I have here – I think BTC is going to go up a ton – like 10x. It’s a great investment…[but] I think the broader portfolio is going to outperform.”

At time of writing, BTC has a market cap of $1.156 trillion while all altcoins combined have a market cap of $1.327 trillion, according to CoinMarketCap.

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s are now selling ‘way more’ US Dollars to buy Bitcoin

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El Salvador’s mainstream Bitcoin (BTC) adoption gains momentum during the ongoing bull run as citizens increasingly exchange their United States dollar savings for Bitcoin. 

President Nayib Bukele shared this new development on Twitter based on the data acquired from El Salvador’s in-house wallet service, Chivo. President Bukele said:

“People are inserting way more USD (to buy #BTC) than what they are withdrawing from the Chivo ATMs.”

He also urged media outlets to independently confirm the above information by visiting the ATMs. President Bukele further stated that Chivo has reported 24,076 remittance requests “adding up to $3,069,761.05 in one day.”

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The increase in USD to Bitcoin conversions within the jurisdiction reflects a change in investor sentiment, which initially faced resistance during adoption from the general public. Moreover, the Salvadorean government offers various subsidies for using Bitcoin such as fuel subsidies and tax exemptions. 

El Salvador has installed over 200 ATMs after adopting Bitcoin as a legal tender, making it the third-largest network of crypto ATMs after the United States and Canada.

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A Cointelegraph report shows that El Salvador exceeded United Kingdom’s crypto ATM count after deploying 205 crypto ATMs, mainly to facilitate local Bitcoin transactions and Bitcoin to U.S. dollars conversions.

Recently, the Salvadorean government announced to build a $4 million veterinary hospital using the profits attained during the Bitcoin bull market. According to President Bukele, the veterinary hospital will host four operating rooms, four emergency clinics, 19 offices, and a rehabilitation area: “We decided to invest a part of that money in this: a veterinary hospital for our furry friends.”

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Why Bitcoin ETF Is Such A Big Deal and May Push Bitcoin Above $100k?

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Amid a global regulatory crackdown on cryptocurrencies, the U.S. SEC’s approval of a Bitcoin (BTC) Exchange-Traded Fund (ETF) has come as a pleasant surprise to the Bitcoin community. The most awaited ProShares Bitcoin Strategy ETF is reportedly launching as early as Monday, October 18. This ETF is going to be traded with a ticker symbol of BITO and will track Bitcoin futures.

Bitcoin rallies towards $100K

Instead of achieving regulatory green light, Bitcoin price crossed $62K this morning with a slight correction, BTC continued to stand strong at $61.5K, at the time of reporting. The market is raging with speculation of Bitcoin crossing $100K with this ETF. The timing could not have been better as the fourth quarter has commenced the holiday season bull run, with trader bonuses flooding in as cryptocurrencies take to an upward graph. Since the beginning of October, when the potential BTC ETF began gaining mass traction, the impact on Bitcoin prices also became evident.

According to a Bloomberg report, this Bitcoin ETF will further the institutional adoption of the decentralized sphere, specifically focused on Bitcoin. “An ETF should provide greater ease-of-use for retail investors looking to ride Bitcoin’s often hair-raising ups and downs. Like securities tracking oil and gold, it will change hands on relatively familiar U.S. stock-market venues, rather than in cryptocurrency or futures exchanges whose workings are imposing to some users.”

Regulatory approval can make or break a token

The frequently validated fact that regulatory approval radically helps the growth of cryptocurrencies, despite it being a decentralized and unregulated market, continues to gain credibility. XRP is one of the most prominent examples of how drowning in a regulatory puddle may keep certain tokens into a bear rut, while the rest of the industry leaps into the bullish phase. Due to the ongoing XRP lawsuit against Ripple, the XRP community continues to suffer as the fourth quarter has not helped XRP so far. The community blames the SEC for stretching the lawsuit intentionally so that XRP skips this bull run.

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