#binaryfate

[ailtrahq]

Table of Content RINO today announced that it is making its enterprise wallet free to use. RINO’s enterprise wallet enables financial industry best practices such as spending limits and four-eye approvals. Organizations can now sign up instantly and get started without having to deal with sales people or subscription models. Monero core-team member binaryFate, an early investor in RINO, said “Having a service like RINO is essential for the wider industry adoption of Monero. Crypto businesses already have enterprise wallets like Bitgo, Fireblocks and Copper that they can use for other digital assets. I am convinced RINO’s move to make their enterprise wallet free is a gamechanger for the Monero ecosystem” While there are already numerous Monero wallets available, until RINO, no wallet had addressed the needs of businesses. RINO enterprise wallet fills that gap with functionalities catering specifically to teams and organizations.  Secure workflows. RINO allows clients to set up policies to securely interact with shared wallets within a team. RINO policies such as spending limits, four-eye sign-off, view-only wallets, etc, are features that are common in the traditional financial sector. For other cryptocurrencies, a range of wallets also exist that offer these features. However Monero is built on unique and different cryptographic primitives. RINO has for the first time cracked the technical challenge of offering secure, non-custodial workflows on the Monero blockchain. Cost savings. RINO’s SaaS offering allows for painless Monero integration. RINO offers a stable wallet interface (API) to build services upon, without exposing clients to the sometimes complex intricacies of the Monero protocol. Trust. RINO doesn’t have the keys required to spend its clients’ Money. In other words, RINO is a non-custodial wallet. RINO’s cryptographic mechanisms are open source, and verifiable through reproducible builds. Unique technology. The rich features offered by RINO, while the wallet remains non-custodial, is only possible because RINO leverages Monero Multi-Party Computation (MPC) In practice, an organization using RINO can secure and interact with its own funds in ways that are just not possible without RINO. Specific roles can be assigned to different people in a team, and policies put in place for how they can interact with any given wallet. For example, outgoing transactions can be created by spenders, but require approvals by a number of approvers to be actually confirmed and sent out. View only access can be granted to team-members for internal accounting and control, or on-demand to external entities for audit purposes. RINO enterprise wallet is already free as of today (DATE). With this latest move, RINO makes it easier for any team to leverage its powerful features. You can check it out at About RINO is a company run by long time Monero enthusiasts and crypto entrepreneurs. RINO’s mission is to enable the adoption of Monero by the mainstream financial industry.   Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.  

[binaryfantasies]

Magic in the making 47 We did promise a surprise didn't we? Join the Inner Circle list on the website with your email and stay tuned!

[cigaretteshack]

the non-binaryfication of every finn wolfhard character

[digitallyunpluggedmagazine]

Overview and Logs for the Dev Meeting Held on 2019-09-22

Overview and Logs for the Dev Meeting Held on 2019-09-22

Overview and Logs for the Dev Meeting Held on 2019-09-22

Posted by: el00ruobuob / rehrar

September 22, 2019

ok it’s time 1. Greetings who all is here? hello 🙂 Hi Hey hey hey Hi hey o/ Hi so everyone except the people rehrar pinged are here, nice. it would seem so moneromooo: do we have you at least? 😛 Yes. one last round for fluffypony luigi1111 ArticMine binaryFate please join us ASAP in the…

[tumbledsom]

binaryFate’s talk about fungibility at Paralelni Polis 2018

binaryFate’s talk about fungibility at Paralelni Polis 2018

from News https://ift.tt/2C0JAC3

[cryptobully-blog]

Airdrop Attack? Monero Fork Condemned as Privacy Threat

http://cryptobully.com/airdrop-attack-monero-fork-condemned-as-privacy-threat/

Airdrop Attack? Monero Fork Condemned as Privacy Threat

Giving away free crypto might not be as easy as it sounds.

By gifting new assets to existing cryptocurrency users, so-called “airdrops” are proving explosive, enabling the sudden creation of massive amounts of value almost overnight. But as the method is perhaps being hastily adapted, unexpected hazards are beginning to emerge.

Planning to launch on April 30, monerov is one such example. Seeking to correct what it sees as an error in monero’s value proposition, it aims to offer a variation on the software behind the 11th-largest cryptocurrency that alters the rate at which coins are created.

But there’s a catch. While monerov activates like all forks (by copying another crypto’s codebase), its design threatens to undermine one of the core privacy mechanisms of the protocol it’s splitting from. In short, because of the way it impacts monero’s privacy features, a single data leak could cause a chain reaction, one that potentially damages its future transactions.

Given the risks to the original blockchain, the idea has been met with an icy reception.

Researchers affiliated with monero are now speaking out, seeking to brand the giveaway, in which monero holders would receive free money, an attack.

“Forking an existing blockchain without taking into account the effects is a reckless disregard for user privacy with no real benefits,” a cryptographer at the Monero Research Lab, who goes by the pseudonym “Sarang Noether,” flatly told CoinDesk.

That said, the airdrop only threatens one aspect of monero’s privacy model – other devices, that conceal transaction quantities as well as destination addresses, would be unaffected. But, there are concerns that it could set a precedent for further airdrops in the future.

As monero core developer “binaryFate” told CoinDesk:

“It is much easier to bootstrap a community by distributing ‘free’ tokens to an existing user base than starting from a genesis block and convincing new users to join based solely on the merit of your technology.”

What actually is an airdrop?

A newly popular method for distributing new cryptocurrency, it’s notable that the attack vector exposed by monerov hinges on the very process of airdrops.

Rather than using code to calibrate a new blockchain, an increasing number of forks are choosing to inherit the former chain, allocating a time for when the the codebase will split off and continue.

“One must distinguish forking a codebase and forking a blockchain,” binaryFate said.

Typically, at a predetermined “block height,” a numbered block in the chain, the new cryptocurrency will create a “snapshot” of who owns what on the former chain.

This information is then replicated onto the new blockchain, giving users two wallets, and potentially, a crypto stash that has doubled in quantity.

On the bitcoin blockchain, participating in an airdrop can have privacy faults of its own. As highlighted by author Andreas Antonopoulos, claiming airdropped coins with a bitcoin key pair can risk linking an entire transaction history, even if a bitcoin user has been diligent.

The technique can also cause more systemic problems, such as the well-known “replay attack” – in the wake of a fork, there’s a risk that money spent on one blockchain will also transact on the other chain, sacrificing the integrity of the ledger.

Linking key images

But this particular attack is specific to monero. To achieve anonymized transactions, monero relies on three mechanisms: stealth addresses, ring signatures and ring confidential transactions.

Together, these code functions form a robust privacy model, as stealth addresses protect the identity of a user that receives funds, ring signatures protect the sender and ring confidential transactions obscure the quantities that are being sent in a transaction.

The fork attack impacts only one of these devices, the ring signatures.

In ring signatures, transaction outputs, or the information about what is being sent, is aggregated into a “ring” that obscures information by mixing it up with the randomly selected transaction outputs of other monero users.

However, this presents a problem: “You never know if an output is actually spent or not,” binaryFate explained.

Because transaction outputs are hidden, nodes cannot verify that an exchange took place, meaning that a malicious user could spend the same XMR repeatedly.

To correct this, monero relies on what is called a “key image,” which is a proof that one piece of data within the ring signature is genuine. But while this remains privacy preserving as a one-use item on a single blockchain, if a key image is repeated, it can expose the original transaction output.

“This defeats the point of using ring signatures at all for that particular output,” binaryFate said.

But there’s a further risk arising from the airdrop, as well.

Because old transactions are sometimes included (a “decoy” to further secure the privacy of ring signatures), the exposed transaction could have an unpredictable impact across the monero blockchain, damaging the privacy of multiple users as an increasing number of fragments of a ring are revealed.

And, due to the nature of the attack, the deanonymization process would happen exponentially.

Sarang explained:

“If a substantial fraction of monero users claimed funds, the statistical likelihood that real inputs could be identified begins to increase.”

Mitigation measures

However, Sarang continued, to pose a serious risk, a large portion of monero users would need to participate in the airdrop. So, the fix is fairly simple: users could stay away from forks in which their private keys might be reused.

Toward this, monero developers and community members are coordinating to warn others of the risks posed by the upcoming airdrop.

“There is a social, voluntary-based component to the general mitigation: educate monero users to protect themselves,” binaryFate told CoinDesk.

However, warning users away from a free crypto can be a hard sell, and the monerov Twitter and Telegram groups have a growing numbers of users.

“The promise of free money is compelling. If someone mailed me an envelope of cash, it would be tempting to keep it,” Sarang admitted.

Against this, there’s two major steps that the monero team has taken. First, because the attack effectively decreases the ring size by revealing certain outputs, monero will increase the ring size in response.

Additionally, monero has coded up a mitigation that protects the exposure of outputs by insuring that key images are contained to a single ring signature. By deploying this, which Sarang described as “the safest approach,” data leaks can be avoided.

Monerov has said it is researching privacy protection for the upcoming fork, however, it is unclear whether the team intends to deploy the fixes recommended by the monero core team.

In an email to CoinDesk, monerov’s developers said they intend to raise the size of its ring signatures and deploy a “time gap” between the snapshot and mainnet release, to protect against information exposure.

However, the coordination necessary to stave off the attack between the two groups has been limited.

Speaking in an online chat, monero developer “moneromooo” warned that if the airdrop fails to implement the recommended fixes alongside monerov’s own methods, “It appears to be not a mitigation, but a worsening.”

As such, speculation is spreading among monero developers as to whether the airdrop is a deliberate, sophisticated attack.

BinaryFate told CoinDesk:

“It doesn’t really matter whether the attack is malicious or simply a greedy money grab, the threat is the same anyway.”

Silver forks image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Monero

[igresol]

EX BINARY FATE GET INTO THIS 

[btc-current-blog]

"Monero makes it way way more difficult to double-spend [zero-conf transactions] than Bitcoin, and way way easier to protect against" -binaryFate (of XMR.to)

“Monero makes it way way more difficult to double-spend [zero-conf transactions] than Bitcoin, and way way easier to protect against” -binaryFate (of XMR.to)

[ad_1]

(https://www.reddit.com/r/Monero/comments/7rsgi9/kasisto_pos_in_22_seconds/dt3o348/)

Does anyone know why this is true?

[ad_2] View Reddit by hapticpilot – View Source

[btc-current-blog]

MAAM – Monero Ask Anything Monday – November 12, 2018

MAAM – Monero Ask Anything Monday – November 12, 2018

[ad_1]

Given the success of the previous MAAMs ([see here](https://www.reddit.com/r/Monero/search?q=maam&sort=new&restrict_sr=on)), let’s keep this rolling.

The principle is simple: ask anything you’d like to know about Monero, especially the dumb questions that you’ve been keeping for you every other days, may the community clarify it all!

Finally, credits to binaryFate for starting the concept!

[btc-current-blog]

MAAM – Monero Ask Anything Monday – November 26, 2018

MAAM – Monero Ask Anything Monday – November 26, 2018

[ad_1]

Given the success of the previous MAAMs ([see here](https://www.reddit.com/r/Monero/search?q=maam&sort=new&restrict_sr=on)), let’s keep this rolling.

The principle is simple: ask anything you’d like to know about Monero, especially the dumb questions that you’ve been keeping for you every other days, may the community clarify it all!

Finally, credits to binaryFate for starting the concept!

[btc-current-blog]

MAAM – Monero Ask Anything Monday – October 08, 2018

MAAM – Monero Ask Anything Monday – October 08, 2018

[ad_1]

Given the success of the previous MAAMs ([see here](https://www.reddit.com/r/Monero/search?q=maam&sort=new&restrict_sr=on)), let’s keep this rolling.

The principle is simple: ask anything you’d like to know about Monero, especially the dumb questions that you’ve been keeping for you every other days, may the community clarify it all!

Finally, credits to binaryFate for starting the concept!

[btc-current-blog]

MAAM – Monero Ask Anything Monday – October 15, 2018

MAAM – Monero Ask Anything Monday – October 15, 2018

[ad_1]

Given the success of the previous MAAMs ([see here](https://www.reddit.com/r/Monero/search?q=maam&sort=new&restrict_sr=on)), let’s keep this rolling.

The principle is simple: ask anything you’d like to know about Monero, especially the dumb questions that you’ve been keeping for you every other days, may the community clarify it all!

Finally, credits to binaryFate for starting the concept!

[btc-current-blog]

MAAM – Monero Ask Anything Monday – October 22, 2018

MAAM – Monero Ask Anything Monday – October 22, 2018

[ad_1]

Given the success of the previous MAAMs ([see here](https://www.reddit.com/r/Monero/search?q=maam&sort=new&restrict_sr=on)), let’s keep this rolling.

The principle is simple: ask anything you’d like to know about Monero, especially the dumb questions that you’ve been keeping for you every other days, may the community clarify it all!

Finally, credits to binaryFate for starting the concept!

[btc-current-blog]

MAAM – Monero Ask Anything Monday – October 29, 2018

MAAM – Monero Ask Anything Monday – October 29, 2018

[ad_1]

Given the success of the previous MAAMs ([see here](https://www.reddit.com/r/Monero/search?q=maam&sort=new&restrict_sr=on)), let’s keep this rolling.

The principle is simple: ask anything you’d like to know about Monero, especially the dumb questions that you’ve been keeping for you every other days, may the community clarify it all!

Finally, credits to binaryFate for starting the concept!

[btc-current-blog]

MAAM – Monero Ask Anything Monday – October 08, 2018

MAAM – Monero Ask Anything Monday – October 08, 2018

[ad_1]

Given the success of the previous MAAMs ([see here](https://www.reddit.com/r/Monero/search?q=maam&sort=new&restrict_sr=on)), let’s keep this rolling.

The principle is simple: ask anything you’d like to know about Monero, especially the dumb questions that you’ve been keeping for you every other days, may the community clarify it all!

Finally, credits to binaryFate for starting the concept!

[btc-current-blog]

MAAM – Monero Ask Anything Monday – September 24, 2018

MAAM – Monero Ask Anything Monday – September 24, 2018

[ad_1]

Given the success of the previous MAAMs ([see here](https://www.reddit.com/r/Monero/search?q=maam&sort=new&restrict_sr=on)), let’s keep this rolling.

The principle is simple: ask anything you’d like to know about Monero, especially the dumb questions that you’ve been keeping for you every other days, may the community clarify it all!

Finally, credits to binaryFate for starting the concept!