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Cryptocurrency is a groundbreaking invention. It is truly wondrous and revolutionary. It allows people to take back economic freedom from centralized cartels and undermine oppressive third parties. But even though the technology has the capacity to return power to the people, it is not immune to attacks. Bitcoin, the first cryptocurrency, was compromised in an attack. It is true the technology that allows bitcoin to function—the blockchain—is antifragile and resilient, but it still has an Achilles tendon. There is at least one attack vector that can harm bitcoin. Matter of fact, when someone creates an allegedly unassailable technology, it practically invites people to launch attacks against it. However, the weakness attackers exploited was not based in code or mathematics. Instead, the attackers targeted a more vulnerable aspect of the technology: the community. The attackers infiltrated the community and compromised bitcoin to alter the cryptocurrency’s original purpose.

Enigma will conduct the first public demonstration of its privacy-oriented, blockchain-based protocol at CoinDesk's Consensus 2018 conference on Tuesday. Former MIT researcher and Enigma co-founder and CEO Guy Zyskind first introduced the technology in 2015, seeking to rebuild the foundational layer of ethereum to address the blockchain's privacy-related shortcomings. The protocol essentially allows nodes to compute using encrypted fragments of the smart contracts without having to decrypt them, which other blockchains cannot do. Dubbed "secret contracts," it also facilitates "coin mixing" - a tactic that obscures the original source of ether used within the protocol. Likewise, it stands apart from other privacy-guarantee mechanisms like zk-SNARKs in which one party can prove its possession of information to another party without revealing the information or interacting with the other party. Enigma's protocol, on the other hand, uses a trusted

Many people in the bitcoin ecosystem suffer from poor communication skills. Their inability to intelligently and compassionately convey an idea is intensified by the current scaling debate. I have experienced this issue first-hand since I am on the front lines of Bitcoin.com. Let me tell you a story and explain the consequences of this lack of coherent communication. I was in Los Angeles last week for the Crypto Funding Summit. On the last day of the event, we had an afterparty at The Standard, which is a swanky rooftop lounge in downtown LA. Many influencers and speakers converged on the spot to network and continue the conversation. That Escalated Quickly The night started off well. Everyone sipped on their favorite cocktail and discussed details of their ambitions and entrepreneurial endeavors. I engaged in the conversations with glee. Toward the end of the night, I was discussing the scaling debate with a group of people. I mentioned the importance of expanding block siz

The 'bitcoin unicorn' club now has another member. Announced Tuesday, Circle has closed a $110 million Series E fundraising, a figure that effectively values the startup at nearly $3 billion, according to figures from the company. Led by China-based mining outfit Bitmain, the round includes support from Accel, Blockchain Capital, Breyer, Digital Currency Group, General Catalyst, IDG, Pantera and Tusk Ventures. With the funding, the company is also revealing an ambitious plan to bolster its products and services by launching a "US dollar coin," or a blockchain native asset that would be both regulated and backed by real government currency, through its affiliate CENTRE project. In this way, Circle CEO Jeremy Allaire framed the round as one that helps it position itself as a true conglomerate of cryptocurrency services, as opposed to just an exchange or payment startup, both characterizations having been given to the company in the past. Allaire told CoinDe

Ganhuyag Chuluun Hutagt, CEO of Ard Financial, hosted a conference on the benefits and potential of bitcoin in Mongolia. Yes, Mongolia. The landlocked nation with a small population managed to attract over a thousand attendees, getting beyond just talk and debate — a new three-year fund was created to help make their ambitious goals a reality.   Mongolia’s First Crypto Conference Crypto Nation was held in early December, and hosted over 1,200 attendees from all over the world, including “public and private sector participants, civil society, crypto-enthusiasts, and scientific and academic communities on blockchain and its applications,” according to Ard Financial Group’s press release summarizing the event. The effort was “to promote understanding about blockchain and cryptocurrency markets and we want to help create awareness and excitement at all levels of the society,” the company explained. It wasn’t just the usual talk and pontification. Last week, the company announced c

U.S. regulators are still looking into cryptocurrencies and initial coin offerings, but don't aim to suppress the industry, according to comments made during a panel at CoinDesk's Consensus 2018 conference in New York. Commodity Futures Trading Commission (CFTC) enforcement director James McDonald, Securities and Exchange Commission (SEC) Enforcement Division Cyber Unit chief Robert Cohen and associate deputy attorney general Sujit Raman participated in a panel discussion on enforcement activities in the space Tuesday. They were joined by Kiran Raj, chief strategy officer at crypto exchange Bittrex, with the panel moderated by attorney Steve Bunnell. The government representatives, who disclaimed that they only spoke for themselves and not their respective agencies, notably all agreed that they did not want to hinder innovation or interfere unduly with blockchain or the tokens built on the nascent technology. That said, they all also stated that they had to act again