In recent times, I've been struggling to determine where blockchain has demonstrated its immensely promised value, delivered true market or stakeholder value, or disrupted an existing ecosystem. And thus far, what I keep coming up with is that "blockchain is truly a solution searching for a problem." Most of all, many of its enthusiasts and proponents are generally conceptual thinkers and/or snake oil salespersons who have little to no experience delivering secure, integrated, complex systems. more
Researchers at security service provider, Zscaler, are reporting that in the past six months they have blocked over 2.5 billion web-based cryptomining attempts within their cloud service. more
In late 2021, the term Web3 began to increasingly appear in mainstream media outlets. This does not refer, however, to a sudden increase in interest in the Semantic Web as defined by Tim Berners-Lee, but rather to something entirely different. Enthusiasts of cryptocurrencies and nonfungible tokens (NFTs) seized this term and changed its meaning to reflect a supposed new stage of the Web, running on top of blockchains and having decentralization as its core value. To summarize the narrative being spun, the first generation of the Web afforded independence to the owners of websites, but this did not extend to the average user... more
Any form of public communications network necessarily exposes some information about the identity and activity of the user's of its services. The extent to which such exposure of information can be subverted and used in ways that are in stark opposition to the users' individual interests forms part of the motivation on the part of many users to reduce such open exposure to an absolute minimum. The tensions between a desire to protect the user through increasing the level of opacity of network transactions to third party surveillance, and the need to expose some level of basic information to support the functions of a network lies at the heart of many of the security issues in today's Internet. more
An entity called the Handshake Network claims its newly developed open source project offers advantages over the traditional naming and signature systems. more
A water utility in Europe was compromised by cryptocurrency malware mining attack; the attack is the first public discovery of an unauthorized cryptocurrency miner impacting industrial controls systems. more
Lately, the word blockchain is gaining a lot of attention from businesses, investors and governments, especially around how it could transform how we do business today. As the world looks up to Blockchain technology for radical transformations in many industries and sectors, I want to take a look at how it could help governance in Africa.
The African continent is plagued with corruption, bad governance, mismanagement and lack of accountability. more
Reuters reports today that several top lawmakers have revealed a "bipartisan momentum is growing in the Senate and House of Representatives for action to address the risks posed by virtual currencies to investors and the financial system." more
Cryptocurrencies (such as Bitcoin) are all the rage -- so, naturally, related domain name disputes are, too. The wild fluctuations in cryptocurrency prices (Bitcoin hit a low of close to $6,000 this week, after reaching an all-time high of more than $19,000 only two months ago, and less than $1,000 a year ago) have attracted speculators, regulators and now even cybersquatters. more
One of the most difficult elements in the development of smart cities is how to finance them. Local government doesn't have the money for it and while state and federal governments might have more money to spend there is no way that their current tax funds could pay for even a fraction of the investments that are needed. Indeed the reality is that in order to create a smart city... massive up-front investments are needed. more
A new security report reveals cryptominers infected ten times more organizations than ransomware in 2018, but only one in five IT security professionals were aware their company's networks had been infected by mining malware. more
Last Saturday marked the 53rd anniversary of the Internet. While the vast majority of its five billion users have been online for less than a decade, the Internet was taken into use on October 29th, 1969, when two computers connected to the ARPANET exchanged a message. Although the Internet has been around for a while, it remained below most people's radar until the late 1990s when the dot com boom started. more
Let's say I'm with the Chinese government and decide that I am tired of people evading currency controls and money laundering using Bitcoin. So we adjust the Great Firewall of China to block port 8333. We also add some proxies that allow some uncleared transactions from outside to flow into Chinese networks but not the other way and keep track of which ones we let through. Since a large fraction of the miners are inside China, and all of the hard currency exchanges are outside, this will cause a pretty serious fork. more
Months ago, while watching a Saturday Night Live skit about non-fungible tokens (NFT) featuring a parody of Janet Yellen speaking to a high school economics class, I realized what an NFT is and how they work. What they represent, how they are minted, and how their value is exchanged became clear while watching Pete Davidson in a boy wonder unitard rap about the latest crypto-phenomena. It was only later that I realized that NFTs have plenty of practical applications. more
On November 15, Russia demonstrated its ability to destroy an orbiting satellite, Cosmo 1408, by hitting it with a direct-ascent rocket. In an earlier post, I noted the anti-satellite demonstration and speculated on why Russia may have done it and why the Chinese had not condemned it. In this post, I’ll look at the evolution of the resulting debris cloud and say more about the possible motivation. more
A World-Renowned Source for Internet Developments. Serving Since 2002.