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Category: finance – Page 134

Have there been successful Transaction Malleability attacks?

First, let’s get some basics out of the way…

What is Transaction Malleability?

Here are 2 explanations of transaction malleability: [Coindesk] [TechTalk]

In a nutshell, Transaction Malleability is a weakness in the original Bitcoin implementation that enables a bad actor to change the unique ID of a bitcoin transaction before it is confirmed on the Blockchain. Such a change makes it possible for someone to pretend that a transaction didn’t happen, if all necessary conditions are in place.

As the Coindesk article points out, a successful attack requires certain conditions that make a successful attack difficult or even unlikely. Many analysts referred to it as a bug that should eventually be fixed, rather than an urgent issue.

Was This Flaw Addressed

Transaction malleability was addressed (for Bitcoin) with the introduction of Segregated Witness (SegWit) in August 2017. 1, 2

But Was There a Successful Attack?
Attack? Yes. Successful? It’s doubtful…

In March 2017, five months before SegWit was implemented, a mining pool that administers 2% of worldwide activity launched a malleability attack. No one lost money – and some individuals believe that they did this to emphasize urgency and hasten the adoption of SegWit.

What About Lightning Network?

The Lightning Network is a ‘Level 2’ network overlay, currently being adopted by miners (depending on the service or exchange, it is being incrementally activated in the first months of 2018). To function properly, it requires that transaction malleability be solved. But, in the event that a miner is not SegWit compliant, it can resolve the malleability problem in other ways.

1 SegWit should not be confused with SegWit2x, an upgrade process that was cancelled a few months later in November. 2017

2 In the TechTalk article linked above, the author concludes:

“Transaction Malleability is fixed with Segregated Witness by no longer taking into account signatures when calculating the transaction’s fingerprint. Fixing Transaction Malleability means that the Lightning Network can work smoothly.”

Philip Raymond co-chairs CRYPSA, hosts the New York Bitcoin Event and presents at
Crypto Conferences around the world. Book a presentation or consulting engagement.

The longevity healthtech market is an investor’s dream

Is the longevity industry the healthtech investment trend?

Forbes contributor and finance expert Richard Eisenberg discusses with Taimur Hyat, Chief Strategy Officer at Prudential Financial’s investment arm ($963 billion of funds under management).

Hyat shared his views on investinginto the ageing industry. He noted ‘the first wave of tech and apps was designed with millennials in mind — pizza delivery and Uber. The next wave of platforms and technology will be designed with the needs of the elderly in mind.

Walmart Opens Tech Incubator In Austin

Walmart has opened a new tech incubator in Austin to focus on emerging technologies.

Engineers, developers and scientists at the incubator are working on the future of shopping and exploring machine learning, artificial intelligence and natural language processing, according to a blog post by Walmart.

“The work we’re doing is ultimately about enabling our coworkers to be even more impactful in their jobs,” stated Rachel Brynsvold, data scientist at the lab. “I also see lots of opportunities to make financial impact for the company, which contributes to Walmart’s mission to help people save money and live better.”

All-star team of synthetic biologists raise $53 million for cancer therapy startup Senti

A who’s-who from the world of synthetic biological research have come together to launch Senti Biosciences with $53 million in funding from a slew of venture capital investors.

Led by Tim Lu, a longtime researcher at the Massachusetts Institute of Technology and one of the founding fathers of synthetic biology, Senti’s aim is nothing less than developing therapies that are tailored to an individual’s unique biology — and their first target is cancer.

Here’s how Lu described a potential cancer treatment using Senti’s technology to me. “We take a cell derived from humans that we can insert our genetic circuits into… we insert the DNA and encoding and deliver those cells via an IV infusion. We have engineered the cells to locate where the tumors are… What we’ve been doing is engineering those cells to selectively trigger an immune response against the tumor.”

Will 100 be the new 60? Stem cell start-up that raised $250 million could extend lifespan

Longevity become hottest object for investments;

Startup founded 5 moths ago just raised $250 million.

The start-up, which launched in September and is headquartered in Warren, N.J., announced Thursday it has raised $250 million in venture capital from global biopharmaceutical company Celgene, biotechnology company United Therapeutics Corporation, biopharmaceutical company Sorrento Therapeutics, DNA sequencing and machine learning company Human Longevity, Inc.

Its biological “Band-Aids” are used to accelerate the treatment of wounds and burns resulting from injury or any manner of reconstructive surgery, and its injectable stem cell products can accelerate the repair of a tissue or organ. These restorative products cost from a few hundred to a few thousand dollars per unit, according to Hariri. Celularity bought its stem cell bandage business earlier in January when it acquired Alliqua BioMedical for $29 million.

Behind the simulations imagining the nuclear apocalypse

Security experts say more of these hands-on demonstrations are needed to get an industry traditionally focused on physical protection to think more creatively about growing cyber threats. The extent to which their advice is heeded will determine how prepared nuclear facilities are for the next attack.

“Unless we start to think more creatively, more inclusively, and have cross-functional thinking going into this, we’re going to stay with a very old-fashioned [security] model which I think is potentially vulnerable,” said Roger Howsley, executive director of the World Institute for Nuclear Security (WINS).

The stakes are high for this multibillion-dollar sector: a cyberattack combined with a physical one could, in theory, lead to the release of radiation or the theft of fissile material. However remote the possibility, the nuclear industry doesn’t have the luxury of banking on probabilities. And even a minor attack on a plant’s IT systems could further erode public confidence in nuclear power. It is this cruelly small room for error that motivates some in the industry to imagine what, until fairly recently, was unimaginable.