Bitcoin Security and Cryptography: Reasons to Worry

Bitcoin has a toxic culture of NOT taking security and cryptography questions seriously ever. Being able to withstand expert criticism, champion best practices and anticipate the risks is crucial for any open source project.


Unhappily we observe that:

Other crypto currencies, though smaller than bitcoin, seem to do much better:

  • For example Stellar has a head of Secure Computer Systems Group at Stanford University on board, and they do care about security: they decided to go for a so called “safe” elliptic curve Curve25519.
  • Ethereum has two superstar cryptographers Merkle and Koblitz, which are actually the people who have invented the very cryptographic technology which underpins bitcoin.


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