PRIVATE KEY
An aspect of a certain encryption technique that uses key pairs for the transfer of encrypted data. The private key decrypts encrypted messages into a readable format that only the intended party with the corresponding private key can access. Public and private key pairs are what allows for trustless transactions in cryptocurrencies where private keys act as passwords that grant users access to transfer cryptocurrencies associated with a certain public key.
Web3 Security Losses Skyrocket to $889.26M in Q3 2023, Says Beosin Report
The Q3 2023 Global Web3 Security Report, jointly initiated by Beosin and SUSS NiFT, reveals a concerning escalation in the Web3 security landscape. The report shows that losses from hacks, phishing scams, and rug pulls reached $889.26M in Q3 2023, exceeding the combined losses of the first two quarters. The report also highlights the increasing threat posed by North Korea's Lazarus group.
The Most Unworkable State Law
An Illinois senator has presented a law that would compel crypto node operators, miners, and validators to reverse transactions if ordered by the court, even though it's impossible.
Wyoming lawmakers pass bill prohibiting courts from forcing disclosure of digital asset
Wyoming, a crypto-friendly state, enacted a measure banning private key disclosure. If Governor Mark Gordon approves, it will take effect July 1.
Samsung Adds New Crypto Feature to Their Devices with “Stellar” Blockchain
Samsung device users can now securely store the private keys of their cryptocurrency wallet on their phone, with a recent add-on feature by the Stellar Development Foundation (SDF).