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Blockchain technology now powers a privacy-focused security camera

The new camera from IoTeX reportedly features a private key for access and end-to-end encryption of all data. IoTeX, a privacy-focused platform for the Internet of Things, has partnered with camera manufacturer Tenvis Technology to offer Ucam, an indoor security camera powered by blockchain technology. Head of business development at IoTeX Larry Pang told Cointelegraph that Ucam users can access their camera data through a decentralized system and log in with an “uncrackable” password. The camera or a user’s mobile phone handles all the computing, meaning decryption occurs on the devices, letting users control their own data. “A private key is…

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Analyst: 1,500 Bitcoins Lost Every Day, Less Than 14 Million Coins Will Ever Circulate

A cryptocurrency analyst, Timothy Peterson claims that 1,500 bitcoins are lost each day meaning only 14 million BTC will ever circulate. The figure is at odds with the estimate of many organizations including Markets.bitcoin.com which place the figure at 18.5 million coins. Still, Peterson, who is the CAIA Manager at Cane Island Alternative Advisors, argues the merits of his assertions by pointing to how this average daily loss dwarfs the 900 bitcoins that are mined every day. Furthermore, to support his contention, Peterson points to a research note published by his organization earlier in the year. In the five paged…

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Algorand’s Newest Upgrade Turns the Project’s Eyes Towards DeFi

Will features like private key “rekeying” make Algorand a DeFi leader? The latest upgrade to the Algorand network shows that the project is eyeing the burgeoning DeFi space.In a Cointelegraph interview, Algorand’s head of product Paul Riegle emphasized the three key features of this upgrade: the addition of stateful smart contract functionality to the base layer, “fast catchup” and “rekeying”. The Algorand team believes the new features make it a viable competitor in the DeFi space. He pointed out what makes Algorand’s stateful smart contracts different from its brethren on other platforms is their integration into the base layer, which allows…

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What Are Private Keys and Why Are They Important?

The self-custody of cryptocurrency private keys is so important, that there’s an annual event dedicated to ensuring as many people as possible maintain full control over their private keys as possible. This event, known as Proof of Keys, occurs each year on January 3 and encourages users to withdraw their cryptocurrencies from exchanges to wallets that hold their private keys. This, because private key access is necessary to ensure true ownership of cryptocurrencies, or as well-known Bitcoin advocate Andreas Antonopoulos puts it — “Not your keys, not your Bitcoin.” What Are Cryptocurrency Private Keys? Whenever a user creates a cryptocurrency…

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Bitcoin Security 101: How to Create a 2 of 2 Multi-Signature BCH Wallet

In the world of cryptocurrencies, there’s a lot of discussions and lessons when it comes to digital asset security and one of them is multisig wallets. The term multisig stands for multi-signature and the following post will teach anyone how to create a 2 of 2 multisig wallet. Years ago cryptocurrency developers came up with an idea to increase wallet security by leveraging a multisig wallet. Basically, a 2 of 2 multisig wallet consists of two wallets but people can create wallets with more than two signers. Essentially, with a multisig wallet, two or more signatures are required to authorize…

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