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Home Updates Ripple Price Prediction: Ripple can rise on fundamental expansion Ripple Price Prediction: Ripple can rise on fundamental expansion Because of the bearish pressure in the market, XRP is …
Home Updates Ripple Price Prediction: Ripple can rise on fundamental expansion Ripple Price Prediction: Ripple can rise on fundamental expansion Because of the bearish pressure in the market, XRP is currently trading well below the $0.50 mark. This shows that it is down by 2.92% against the USD and down by 0.42% against Bitcoin. According to Brad Garlinghouse, the CEO of Ripple, Ripple is actually providing a fundamental way for the banks and financial institutions to use the blockchain technology. He further added that this enables the use of the cryptocurrency for institutional purposes as well. As there is a fundamental use, the cryptocurrency will increase in value in the future as well. Also, there are many start-ups which will in the future like to use the ripple protocol in order to develop newer solutions as well. This will certainly increase the number of applications of the cryptocurrency. Recently, there was an announcement by the company that it is developing a ripple payment app which will enable easier transfers using the Ripple protocol. Money Tap, as the application will be called will be unveiled by the end of this year. The CEO of ripple has been time and again trying to nullify any rumors surrounding ripple. He has been trying to induce positivity into Ripple. However, the cryptocurrency seems to be falling consistently. This is the reason why investors are now worried whether there is an underlying value or not. According to the CEO of Ripple, since there are actual applications of the Ripple protocol, it is not like other cryptocurrencies. It has a fundamental value. Owing to this very reason, he is advocating that in the future, the value of Ripple will rise significantly as well. For now, however, most of the investors are scared that Ripple will continue to fall. Many of the investors have invested in ripple at the higher levels. It is down already by approximately 70% from those higher levels. This is the reason why the investors are stuck in ripple. With most of the cryptocurrencies seem to be recovering, it remains to be seen whether Ripple is able to break into the green territory or whether it stagnates at the current lower levels. For now, however, even the words of the CEO, are not pacifying the cryptocurrency as it is still in the negative territory and does not seem to be recovering a lot from the low which it created. Meet Ripple, the world’s most practical financial network What are we, as a society, if we aren’t able to build robust relationships based on trust? That, and honor should be in front of every social interaction involving human beings, including financial transactions. As the world shifts towards a more digital, cryptography-protected way of doing business, traditional banking platforms are being slowly phased out the financial scope. Only those willing to adjust and including more efficient payment system, which is both faster and safer, will be able to maintain in the business and survive. The Ripple platform represents one of those innovative systems. While it has been around since 2012, it is still solidly backing up banking and financial institutions in their quest to provide more efficient and faster transactions that can be built around customers’ trust in each other and the network. Ripple is a project based on small free software that pursues the development of a credit system based on the end-to-end paradigm. Each Ripple node functions as a local exchange system, in such a way that the entire network forms a decentralized mutual bank. In other words, the Ripple platform is a distributed social service based on the honor and trust of existing people in real-world social networks. In this way, financial capital is based on social capital. A reduced version of the Ripple network would consist of an extension of the existing hierarchical banking system. To understand Ripple’s place in the crypto universe, we have to value its contributions to the industry. In addition to being one of the most renowned digital tokens out there – even competing for the second spot in market share, behind Bitcoin, with options such as Dash, Litecoin, and Ethereum – it is also one of the most efficient payment networks for financial transactions in the planet. The Ripple technology is, in fact, more widely known for its digital payment protocol than for being a cryptocurrency. Since being co-founded by Chris Larsen and Jed McCaleb in 2012, it has flourished, reaching worldwide recognition and market success via the digital coin, the XRP. Ripple functions in a decentralized platform that fosters money transfers in any form. It is open source and peer to peer, and can work with several exchanges and currencies, physical or crypto, such as US dollars, Yen, Litecoin, and Bitcoin. To work correctly, Ripple implements the Gateway medium, which serves as the link in the trust chain between two parties wanting to make a transaction. Gateway is the credit intermediary, the one in charge of receiving the funds to public addresses managed within the Ripple platform. In Ripple, anyone can sign up and open a gateway that authorizes that person to be the middleman for exchanging currencies. The XRP (Ripple) is the associated cryptocurrency of the platform. It performs the part of a bridge currency to other tokens without discriminating between fiat and crypto, facilitating exchanges between different coins. According to Ripple’s chief cryptographer, David Schwartz, the payment systems of today are where the email was in the early ’80s. Every provider built their system for their customers, and if people used different ones, they couldn’t easily interact with each other. The purpose of Ripple is enabling the connection of different payment systems together. Ripple’s original and intellectual authors are Arthur Britto, David Schwartz, and Ryan Fugger. They formed the Ripple Company in 2012 and came up with the initial release. The latest version or release was on February 20th, 2018. The project is written in C++ code, under the operating systems GNU/Linux (RHEL, CentOS, Ubuntu), Windows, and OS X. We can consider Ripple to be a real-time gross settlement, currency exchange, and remittance network. Ripple’s first significant period ranged from 2012 to 2013, involving OpenCoin and Ripple Labs. OpenCoin started the development phase of a new payment protocol, named Ripple Transaction Protocol (RTXP), with Fugger’s ideas, primarily instant money transfer between two parties. By that time, the company had already created its digital currency, the XRP, in the same mold as Bitcoin. Later, between 2014 and 2017, Ripple began to focus on the banking market, with Ripple Labs taking part in related projects. They experimented with an App for iPhone that enabled users to send and receive transfer between them. Since 2013, the Ripple protocol has been adopted by numerous financial institutions to offer an alternative remittance option to people. German bank Fidor was the first to use the Ripple network to allow cross-border payments, in the first part of 2014. American institutions Cross River Bank and CBW Bank quickly followed, and later on, Ripple began working with Earthport. From that point on, success followed, and more prominent banking institutions, such as HSBC and Bank of America, utilize the Ripple protocol to perform operations in astonishingly quick times. Bitcoin, along with other renowned cryptocurrencies in the market, performs its operations with the proof-of-work system. Others, such as Nxt, use proof-of-stake; but Ripple implements the consensus protocol. The consensus protocol validates account balances and transactions in the network, improving overall integrity by avoiding double spending. The system will automatically delete malicious advances from morally shady people looking to send one deal to multiple gateways. In short, the protocol consists of distributed nodes deciding by consensus the transaction’s pecking order through a majority vote. One would think that they take a lot of time to complete. Well, five seconds isn’t a whole lot, is it? Ripple is a decentralized platform because it doesn’t involve any governance or central authorities in any part of the process. While the transactions are all made public in the consensus ledger, there is still anonymity because they can’t be linked with the involved people’s ID or account. All users or gateways have a database of every registered IOU. The consensus ledger that the Ripple system implements is versatile and fast enough that each day, more and more banks and financial institutions are adopting it as their preferred way to perform their business operations. Ripple provides an improvement on the traditional way that banks use to work. The transactions are completed, settled and registered in a matter of seconds despite the high amount of traffic that the platform experiences every day. That is a vast improvement over, say, the Bitcoin system, which takes an average of ten minutes to complete an operation. Traditional banks and financial institutions can take days, or even weeks, to perform a wire transfer, and let’s face it, that delay isn’t going to cut it in our current financial reality. On top of all that, the transaction fees in Ripple are almost non-existent: the minimum is 0.00001 XRP. That’s nothing if you compare it to the costs of a cross-border payment. The Ripple network has an associated cryptocurrency; the XRP, which has the power of liquidity by serving as a bridge between other means of payment, making the exchange more comfortable for all parties involved in a transaction. Judging by data as recent as June 2017, the XRP was the world’s the third largest cryptocurrency by market cap of $11.94 billion. The first is Bitcoin (BTC,) at $45.26 billion, and the second is Ethereum (ETH) at $31.53 billion. While there are no central authorities that control Ripple’s price and behavior in the market, the right answer to the question seems to be no: the platform is not entirely decentralized. That doesn’t mean it isn’t successful, as worldly famous financial institutions such as Santander, Bank of America, UBS, American Express, RBC, and Westpac, just to name a few, use it for operations. The blockchain technology doesn’t allow any party or the network itself to control anything regarding transactions, whereas these banks and institutions, using the Ripple’s distributed ledger, can charge their specified transaction fees. People can’t pre-mine XRPs, unlike the cases of Ethereum and Bitcoin. They are fully decentralized platforms backed by millions of miners all around the planet. No person or entity can have control over them. Ripple, administrated by the Ripple company, sees its nodes handled and managed by the mentioned financial institutions. There is a maximum number of Ripple tokens to be hand in the world, set at the moment of its inception to the market. The said number can’t go higher, which means that there aren’t any new XRPs being created. Ripple and Bitcoin: differences and complementary traits While numerous people within the industry state that Bitcoin and Ripple are competitors, that may not be precisely the case. There are some differences, though: Bitcoin implements the proof-of-work system, which is a piece of data difficult (costly, time-consuming) to produce but easy for others to verify. It has to satisfy a set of requirements, too. In the case of Bitcoin, it implements the Hashcash proof of work system. Ripple, meanwhile, uses the already explained distributed ledger, the “consensus” one, so there are notable differences in the modus operandi. Ripple is owned and administrated by OpenCoin and the Ripple Company, whereas Bitcoin is a decentralized system in which there are no central authorities. Now, what would you say if we told you that Ripple’s traits and features could benefit Bitcoin users? Remember, Ripple is best known and has attained most of its international recognition, as a payment system or protocol. Ripple can provide Bitcoin with more ways to connect with those using other forms of currency, as it preaches expedited transactions and increased stability. On top of that, Ripple is a distributed network and therefore does not depend on a single company to manage and secure the transaction database. As a result of that scenario, users don’t have to wait for block confirmations. Selena

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Home Updates Ripple CEO Brad Garlinghouse thinks Ripple will be a winner in the... Ripple CEO Brad Garlinghouse thinks Ripple will be a winner in the longer term / Ripple News Today …
Home Updates Ripple CEO Brad Garlinghouse thinks Ripple will be a winner in the... Ripple CEO Brad Garlinghouse thinks Ripple will be a winner in the longer term / Ripple News Today eval(ez_write_tag([[580,400],'smartereum_com-box-3','ezslot_1'])); Brad Garlinghouse, who is the CEO of ripple, stated that his company actually has a real application when it comes to the blockchain technology as well as cryptocurrency space. Ripple is trying to build a network of globalized payment systems. With the help of Ripple, companies will be able to send payments anywhere in the world almost instantly. According to the CEO, ripple has partnership with over 600 different companies. These companies also include prestigious institutions like Bank of England as well as Saudi Central bank. According to him, since there is a real application of Ripple, it will sustain in the longer term. He also mentioned that they will not be victims of the hype. Owing to the real applications, the value of Ripple will sustain. Moreover, it will appreciate in the future as well. This is the reason why it can survive any kind of crash among the other cryptocurrencies as well. ])); According to the CEO, Ripple is here to stay. They are trying to build longer term solutions which will enable people to send money anywhere around the world. Moreover, with the increased usage by the banking system, the potential of Ripple will increase significantly. Also, according to the CEO, Ripple is one of the very few companies which is actually having real money flow through it is a system rather than just the trading money. This is the reason why the CEO believes that Ripple is here to stay over the longer term. CEO believes that Ripple will sustain any kind of glitches or any kind of downward trend in most of the cryptocurrencies. This will actually help it emerge victorious among the other cryptocurrency. Also, the investors in ripple need not worry about the underlying value of the cryptocurrency. The underlying principle of the cryptocurrency is pretty strong. Owing to this very reason, Ripple is here to stay. According to the CEO, it is one of the very few cryptocurrencies which is tackling a real problem. This is the reason why many investors are also looking to invest in ripple. Moreover, the number of banks and financial institutions which are starting to use ripple are plenty. This is another reason why the potential uses of Ripple are increasing as lot_2'])); Ripple CEO Brad Garlinghouse Talk at Technology Conference Despite the perception that high-flying startup Ripple is either a blockchain or cryptocurrency company, CEO Brad Garlinghouse believes it’s something simpler and not merely a business trying to latch onto the latest tech 5'])); “We are a payments company,” Garlinghouse said at a Goldman Sachs technology conference in San Francisco. He explained that Ripple uses blockchain technology—one of the underlying accounting technologies used for Bitcoin—to record transactions between banks. And he said that his company uses its own XRP cryptocurrency as a payment method to make it easier for banks to move money internationally. The

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I blog about Ripple & XRP. FULL DISCLOSURE: All views are my own. I do not work for Ripple; I am not a professional financial analyst, and the majority of my crypto holdings are XRP.We choose to …
I blog about Ripple & XRP. FULL DISCLOSURE: All views are my own. I do not work for Ripple; I am not a professional financial analyst, and the majority of my crypto holdings are XRP.We choose to spend our time organizing, interacting, planning, creating content, and speaking our mind not because we are members of some select group of insiders or marketing team, but because each of us has a stake in the success of the Internet of Value. Yes, we're 'here for the technology,' and for the world-changing innovations that will enable the complete democratization of finance, and the creation of entire new asset classes and industries; and we are also here because many of us are counting on a specific digital asset to drive this transformation across the globe. Only one digital asset was created specifically to scale and support global transaction levels for cross-border payments. Ripple has endeavored to be the best at one thing - payments. And this means using only the best technology to do the job. As 2018 unfolded, even amid regulatory uncertainty, developers for the large company laid the groundwork for digital asset adoption by banks, improving on XRP with new features such as Deposit Authorization. 1Ripple also tasked computer scientists to research how to transform the XRP protocol to reach speeds orders of magnitude faster than their current levels, while showing increased levels of robustness and fault-tolerance in the face of adverse conditions. This future code change is known as Cobalt. 2XRP is the foundation of the Internet of Value; as a bridge asset, it can settle payments in real-time, as opposed to the multi-day service level of present-day correspondence banking. And it does all this while fulfilling the promise of a no-counter-party, decentralized currency that possesses the necessary characteristics of speed, scalability, and security. Starting after its creation, many of us decided to purchase XRP in recognition of its potential, even as the rest of the world still seemed infatuated with Bitcoin, the oldest of the cryptocurrencies. At first we were contrarians, and it was an uphill battle to spread the word about XRP's technological improvements on Bitcoin, especially when so many early cryptocurrency investors were financially motivated to protect its market share. As time went on, however, the cryptomarket started to wake up to the belief that, to move digital assets into mainstream adoption, support needed to be shown to the innovative cryptocurrency that had pioneered a new, energy-efficient means of double-spend prevention; and in 2017, we started to see the formation of a loose-knit group of people that were on social media trying to spread the word about this new cryptographic network. At first, it seemed that crypto had entered a new golden era, but the market quickly retreated into what would be one of the longest bear markets in its short history. And this is where 2018 became interesting. Leadership is not tested when times are easy; when the sun is shining, and the weather is calm, it almost seems as if leadership may not be needed. What could go wrong? Even for the developers still working on applications that ran on the slow, proof-of-work technology of yesteryear, it seemed that the market would continue to reward them even if their products worked poorly, or not at all. Unscrupulous ICO teams were publishing white-papers and then collecting the wave of money that would pour in.But even during the hype-fueled days of the ICO boom, some leaders with clear insight, such as Brad Garlinghouse and others from Ripple, saw problems. When the bear market continued unabated during much of the year, many companies that were previously flush with cash suddenly had to contract and lay off talented developers. We heard cryptomarket pundits declare the ICO market 'dead,' after dozens of projects failed to deliver on the value originally hinted at within their glossy marketing. I grant you that I may not be an impartial judge, but what I saw seemed in marked contrast to the shrinking, fair-weather communities that seemed to comprise Bitcoin and the fading POW networks; the XRP Community seemed to be attracting more people even as the bear market progressed. These new investors were wise enough to conduct their own fundamental analysis on XRP and determine that it was worth holding, even through some of the gut-churning months of 2018. It was a wide mix of people that had one thing in common - our investment in XRP. Despite that tenuous commonality, we all pulled together and decided to make a difference, even as the largest companies 'building on XRP' were doing their thing. We sponsored competitions, bought swag, wrote articles, produced YouTube videos, and built applications. We organized ourselves - quite effectively - through social media.The tide was changing, and now it seemed that the world was watching, even as XRP gained traction with high-profile moments such as Ripple's donations to Donor's Choose, the Ellen DeGeneres Wildlife Fund, and Madonna's Raising Malawi organization. Those of us that comprised the loose-knit team of XRP investors actively 'getting the word out' were inspired by these developments, and our efforts, supercharged by the addition of multiple community-developed apps and tools by developers such as WietseWind, continued to attract more like-minded individuals. "Team XRP" is growing, and getting stronger by the day: Our efforts have succeeded in educating those in the cryptomarket, and now we are on the cusp of seeing XRP transform cross-border payments.In 2019, I predict that we will see XRP adopted on a scale as-yet-undreamed. Fidelity handles over $7 trillion dollars in assets. 3 4 It's a major institutional trading house, and has managed to survive and thrive throughout challenging market situations, attracting and retaining 27 million customers, according to their own website. 5On October 15th of this year, CNBC announced that Fidelity was forming a new company specifically to address custody for cryptocurrencies, and its purpose would be to execute trades on multiple exchanges for investors. 6Fidelity Investments Chairman and CEO Abigail Johnson stated that:“Our goal is to make digitally native assets, such as bitcoin, more accessible to investors. We expect to continue investing and experimenting, over the long-term, with ways to make this emerging asset class easier for our clients to understand and use.”The two points of this announcement to keep in mind for the time being are:The announcement is one of the biggest in 2018, as Fidelity represents one of the first mainstream financial houses to dip their toes into crypto trading; an acknowledgment of the increasing demand by customers as 2019 approaches. Henri Arslanian, the PricewaterhouseCoopers & RegTech Leader for China and Hong Kong, stated in a recent interview that: 7“The entry of institutional investors will bring a lot of much-needed experience into the crypto industry. A lot of elements are helping with this process, especially as regulatory clarity is becoming more and more inclusive towards crypto. From Hong Kong to Switzerland, 2018 has been a year of changes and positive development for the field and this will be continued in 2019.”He also stated that XRP's rising profile as a leader in actual business use would continue to attract more institutional investment in 2019, noting its use by Ripple, which is successfully competing with SWIFT for cross-border payments. I agree with PwC about their perspective on XRP's influence. While some cryptocurrencies will eventually fade as mainstream investors continue to turn away from proof-of-work tokens, XRP will set the standard for new crypto-assets that can be used in real-world business applications. 2018 has seen this trend accelerate, and I expect 2019 will include dramatic shifts in market sentiment towards those digital assets with real utility. Ripple provided its end-of-year retrospective through a combination of Insights content, a Ripple Drop Episode, an AMA with Brad Garlinghouse, and a series of summary videos highlighting the accomplishments of 2018. The content was provided in a sequence starting with the AMA session with Brad Garlinghouse, and then summarized in comprehensive fashion via blog entries and video(s). The material was a great look backwards, and can be used as good reference material to share with others. The individual videos have not all been posted on YouTube, so you'll need to take a look at Ripple's Twitter account to access some of it: Ripple Twitter FeedIn mainstream finance, some corporations that are in the process of going through organizational changes may occasionally invite scrutiny from news media outlets. Note the emphasis on "occasionally." In marked contrast, companies that interact with the crypto space are constantly under a microscope. Ripple has learned how to handle this with aplomb, only announcing new customers when those RippleNet members are ready for the inevitable surge in attention. In terms of Ripple's customer list, we only know what we've been told, but my guess is that, behind the scenes, Ripple is working with a variety of companies unknown to the general public. With that caveat, let's take a look at where we stand for xRapid at the end of 2018:It's a compact and efficient list to start off the xRapid ecosystem of users at the end of 2018, and these early adopters will set the stage for subsequent integrations; the lessons learned will help them - and Ripple - understand how to adjust the use of XRP for settlement even further. This experience will pave the way for further use in 2019. 2018 showed us how important regulatory certainty is to businesses, banks, and others that are considering usage of digital assets to lower their costs. At the end of 2018, two key pieces of legislation has been introduced in the United States, and the United Kingdom has now shown a recent willingness to communicate exact tax treatment of crypto-assets. Both of these developments indicate the perceived importance of the role that digital assets will play as a means of cross-border value transfer, and Brad Garlinghouse hinted that further clarity should be incoming in 2019; while we don't know the form this further clarity will take, I predict that recognition and use of XRP for cross-border settlement will continue to grow quickly, leading to increased levels of volume on all exchanges, and specifically the exchanges that have opted for xRapid integration. Already, we know of more exchanges that have been discussed in relation to xRapid integration in one way or another. In some cases, these exchanges have declared their interest publicly; in other cases, the exchanges have been discussed or considered by Ripple.Here is a list of possible new xRapid Exchanges in 2019:It's important to note, that, even though many exchanges would like to be an xRapid partner, and receive the associated boosts in volume from xRapid adoption in 2019, Ripple is solely responsible for the exchanges which they choose to work with. My guess is that, like Fidelity, Ripple is only interested in dealing with exchanges that have adequate know-your-customer (KYC) and anti-money-laundering (AML) procedures in place. This would limit their interest to a subset of available exchanges on the market. In addition, Ripple is targeting specific corridors for xRapid; in some cases this means integration with exchanges that may (currently) be volume leaders, if it means serving a corridor where usage of XRP can dramatically lower FX costs for remittance processors and banks. In terms of the possible xRapid businesses and banks, the list is long, and should probably include any business that has tested - or is currently using - xRapid or XRP to transfer value. Thank you to @XrpCenter (Twitter avatar) for help in sourcing this updated list: It's is a mix of large and medium-size remittance processors that reflect a variety of global payment corridors. The encouraging point is that they've each confirmed that xRapid significantly lowers payment processing costs, in conformance to some of the earliest projections prior to production use. Generally speaking, the older and larger the remittance processor, the longer it will take to integrate a new set of payment rails in the back-end; this is why we've seen some of the smaller, more nimble entrants to the payments space move in quickly to seize the early-adopter advantage, such as Cuallix and

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[Editor’s note, see http://www.iqdupont.com/ and H/T Žarko Almuli] It was April 10th, 2013 and the price of a single Bitcoin surged past 250 USD on the Mt. Gox exchange. A few months prior I had …
[Editor’s note, see http://www.iqdupont.com/ and H/T Žarko Almuli] It was April 10th, 2013 and the price of a single Bitcoin surged past 250 USD on the Mt. Gox exchange. A few months prior I had purchased seven Bitcoins for just under $200, and now they were nearing $2000 in value (Figure 1). But, just as fast as the market went up, it came down. Ever the amateur gambler, I panicked and sold too early. But, I was lulled by my humming money machine, permuting cryptographic codes by the millions every second. I was not the only one interested in playing the Bitcoin market, and the increasing price of Bitcoin was due to a number of factors, including a sustained distributed denial-of-service attack on Mt. Gox, and other people like me gambling in the latest crypto-anarchist adventure. It was April 10th, 2013 and the price of a single Bitcoin surged past 250 USD on the Mt. Gox exchange. A few months prior I had purchased seven Bitcoins for just under $200, and now they were nearing $2000 in value (Figure 1). But, just as fast as the market went up, it came down. Ever the amateur gambler, I panicked and sold too early. But, I was lulled by my humming money machine, permuting cryptographic codes by the millions every second. I was not the only one interested in playing the Bitcoin market, and the increasing price of Bitcoin was due to a number of factors, including a sustained distributed denial-of-service attack on Mt. Gox, and other people like me gambling in the latest crypto-anarchist adventure. Like many other modern currencies, Bitcoin is fiat money. But, unlike traditional fiat money, Bitcoin is cryptographic and electronic. There is no “physical” substrate to Bitcoin; the “coins” exist only as cryptographic representations stored in digital wallets. In the simplest caricature of complex economics, fiat money has no intrinsic value and thus requires people to trust that it will retain value. Usually government backing provides this semblance of trust, but when this trust is eroded (e.g., a weak government), value often plummets. Technical flaws also cripple the trust that sustains fiat money, such as rampant fraud, counterfeiting, or hyperinflation. Trust in Bitcoin rests on a range of technical advantages supplied by cryptography. According to advocates, cryptography is secure (safe from technical or mathematical error).iii When applied to economic apparatuses, counterfeiting and double-spending is prevented through the use of public key cryptography, and hyperinflation is kept in check because the cryptographically-secure mining protocol ensures the measured production of money (with a maximum number of coins produced). Yet, as with general discussions of cryptography, complicated political issues often transform into a binary of state versus personal power. On the one hand, when cryptography is used for Privacy Enhancing Technologies it is seen as a block against government snooping. On the other hand, these same cryptographic technologies are often used against the people. This debate is particularly important for crypto/cyber-libertarians,iv who often believe that Bitcoin’s lack of government backing is a virtue (J.M.P., 2013). Described generally, cryptography is typically understood as a means to ensure “information security” or “information secrecy” (see e.g. Kohno et al., 2010). Here, security and secrecy are understood in terms of social relations (c.f. Bellman, 1979). Modelled in its simplest formulation, a secret is some information that I possess and you do not, while information security might be described more abstractly as control of information within a relationship. Or, the encyclopaedic definition: “the aim [of cryptography] is secrecy and confidentiality: the practice of keeping secrets, maintaining privacy, or concealing valuables” (Bauer, 2005). Though the conceptual analysis usually stops here, cryptography also functions more deeply, in ways rarely appreciated by those developing the technology. Understanding how cryptography functions at this deeper level is essential to understanding how Bitcoin functions. I argue that cryptography is central to Bitcoin and yet produces a set of non-secret powers for its social (and economic) effect. This paper suggests that cryptography can be reimagined and reconceptualised, putting forth an alternative to the dominant view that cryptography is secrecy. The long history of cryptography is abbreviated to show that cryptography previously functioned in many different ways, but has been systematically black-boxed. By opening up this black box and reconceptualizing cryptography I argue that we can attend to the history of cryptography yet retain analytical rigour by viewing cryptography as a discrete notational system. Then, returning to Bitcoin, I describe the specific cryptographic mechanisms as used in Bitcoin. Building on this foundation I offer a description of a full Bitcoin transaction. My method for understanding this technical foundation was to engage in praxis, and so, returning to my introductory story about my own experiences with Bitcoin I describe the lessons I learned by running a Bitcoin mining machine. Finally, I take up Gilles Deleuze’s suggestion to “look for new weapons” in our control society. By drawing on my reconceptualization of cryptography as a discrete notational system I suggest that Bitcoin functions as a new weapon in a logic of order. Given the important role that cryptography plays in our lives, it is surprising how little attention it receives outside of the academic worlds of mathematics/engineering and privacy/law. A few authors outside of these fields have explored how cryptography intersects with other domains, but for the most part, cryptography has been a mathematical and legal concern.v Perhaps the most useful of these authors is Kahn (1967) who provides a history of cryptography,vi identifying how the golden age of Western cryptography started with Leon Battista Alberti (1404-1472). Reaching far beyond mathematics and law, Alberti identified cryptography as an intriguing mix of technologies and practices: the “occult arts,” “mysteries of nature,” “strange characters with unusual meanings,” ”movable type,” and secrecy (Alberti, 2010). Over the next six centuries these themes played out in interesting ways. In the 17th century, John Wilkins (1614-1672) developed a proposal for an unambiguous, universal/philosophical language (1668) after developing the ideas in

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