|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
David Chaum: The “Father of Cryptocurrency Cryptography” and “Father of Online Anonymity”
Aug 15, 2024 at 09:00 am
David Chaum, born in New York City in 1955, is an American cryptographer who has made significant contributions to the fields of digital security and privacy. He is widely regarded as the "father of cryptocurrency cryptography" and the "father of online anonymity."
Chaum's early work in cryptography laid the foundation for the development of anonymous communication protocols. In a 1981 paper titled "Untraceable Electronic Mail, Return Addresses, and Digital Pseudonyms," he proposed a "mixed network" system that allowed encrypted messages to be sent to multiple recipients and a server, which would then reorder and conceal the messages to prevent anyone, including the server, from determining the sender of each message. The messages would be decrypted at the final destination after passing through additional servers and being hidden again.
This mixed network concept is considered the forerunner of modern anonymous browsing tools like Tor. Chaum himself has since suggested that every router be turned into a node in a Tor-like network.
In the 1980s, Chaum also founded DigiCash, a company that aimed to create a working or usable digital currency. Users would download the Ecash software, which would generate their money digitally by obtaining a cryptographic signature from a bank. They could then use it online or at participating stores and restaurants without having to open a bank account or have a credit card. Payments were free for individuals, similar to some credit cards, but there were small fees for businesses.
Chaum was one of two keynote speakers at the first World Wide Web conference in Geneva while serving as CEO of DigiCash. Tim Berners-Lee, creator of the World Wide Web, was the other speaker. While speaking live in front of the crowd, Chaum made his first Ecash transaction.
Despite a promising start, Ecash did not become the instant sensation that many had hoped it would be. Only one American bank, Mark Twain Bank in St. Louis, adopted it, and only 5,000 people signed up to use it during its first three-year trial.
However, Ecash grew in popularity in Europe, where cash is still widely used. As early as 1998, several other banks, including Credit Suisse in Switzerland and Deutsche Bank in Germany, partnered with Ecash. But that was not enough. Because DigiCash closed at the end of the year.
Several theories try to explain why DigiCash failed. Two cryptography experts involved in the project, Nick Szabo and Zooko Wilcox O’Hearn, hypothesized that Ecash’s main problem was centralization.
Most major banks did not trust DigiCash, a single company overseeing the entire cryptocurrency operation. Instead, a decentralized network is needed so that users can send virtual currencies directly to each other. A network like Bitcoin, for example.
When Chaum was a student at Berkeley, US government organizations like the NSA were increasingly antagonistic and skeptical of civilians doing cryptographic research. According to Chaum, they tried to stop all cryptography development. He also claims that top NSA officials have threatened to arrest entire groups of civilian cryptographers.
To counter this growing hostility, Chaum founded the International Association for Cryptologic Research (IACR), which organizes cryptography conferences around the world and publishes the Journal of Cryptography. “Free cryptography” was Chaum’s only request to the IACR.
Chaum taught at the New York University Graduate School of Business Administration and later at the University of California, Santa Barbara after earning his PhD from Berkeley. As interest in his theory began to grow, Chaum decided to apply the theory by creating Ecash, the predecessor to Bitcoin.
Cypherpunks are a group of cryptography experts who study how privacy and encryption tools are used, especially considering how they can trigger major changes in social, political, or economic life around the world. Members of this group include Satoshi Nakamoto, the creator of Bitcoin; Hal Finney, the inventor of reusable proof-of-work (RPoW); and Adam Back, the creator of the Hashcash function used by Hal Finney and Satoshi in their respective inventions.
However, if it wasn’t for David Chaum’s efforts and influence then these Cypherpunks might not exist at all.
After the revelations of the NSA mass surveillance scandal, Chaum created the xx network for completely private and secure communications and payments. The xx network removes metadata to maintain user privacy and disguise the identity of the sender.
Chaum himself was shocked and stunned by Snowden’s revelations about the NSA’s mass surveillance schemes in 2013. A platform called the xx network is now in use, and functions similarly to Tor, whose basic technology is largely based on Chaum’s work, but with some significant improvements.
According to Chaum, xx network should work faster than networks like Tor, which cannot provide enough speed for users to contact multiple people at once securely. The xx network achieves this by using smaller groups of nodes to achieve “uniform mixing” of messages so that
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- PolitiFi Meme Coins: A New Alternative to Animal-Themed Tokens
- Sep 24, 2024 at 02:20 pm
- PolitiFi cryptos stands out as meme coins whose themes relate political movements and personalities. In a rapidly evolving world of meme coins, these tokens serve as another major alternative to animal-themed tokens, intertwining the concept of politics with the world of finance.
-
- RAIR Technologies Selected for Denarii Labs Accelerator Program Targeting Web3 Startups
- Sep 24, 2024 at 02:20 pm
- RAIR Technologies, an open-source platform specializing in the development of decentralized Web3 applications, has been selected for the Denarii Labs Accelerator program.
-
- Infinet (INFI): A New Entrant to the Cryptocurrency Market Worth Taking a Closer Look At
- Sep 24, 2024 at 02:20 pm
- As a new entrant to the cryptocurrency market, known as INFI, it is worthy to take a closer look at Infinet. It has indeed attracted the concern of the client in the crypto market as a new entrant with some unique characteristics and prospects.
-
- Grayscale Ethereum Trust (ETHE) Suffers Largest Single-Day Outflow of $80M Since July 29
- Sep 24, 2024 at 02:10 pm
- Over $79 million was withdrawn from nine US spot Ethereum ETFs on Monday, the largest single-day outflow since July 29, according to data tracked by Farside Investors.
-
- Baby Doge and Popcat Are Seeing Huge Gains, But Analysts Are Talking About Cutoshi, a New Memecoin That Has a Lot of Utility and Strong Potential for This Year
- Sep 24, 2024 at 02:10 pm
- The memecoin season is just starting, but some tokens are already ahead of the curve. Baby Doge and Popcat are seeing huge gains.
-
- Polkadot (DOT), Solana (SOL), Ripple (XRP), Shiba Inu (SHIB) Price Analysis and News
- Sep 24, 2024 at 02:10 pm
- Polkadot had a solid performance, rising 2.15% in the past 24 hours and accumulating gains of 6.55% over the past week.
-
- Claim $NFT or Stay Broke: Your Choice!
- Sep 24, 2024 at 02:10 pm
- How to claim APENFT Airdrop: Quick Guideline
-
- South Africa Traders Fair 2024 Concludes in Johannesburg
- Sep 24, 2024 at 12:45 pm
- The South Africa Traders Fair, organised by FINEXPO, concluded on 21 September 2024 at the renowned Protea Hotel Johannesburg Wanderers, marking a major success.
-
- Internet Computer (ICP), Sui (SUI), and BlockDAG (BDAG) Making Headlines as Cryptocurrency Market Nears Bull Run
- Sep 24, 2024 at 12:15 pm
- The cryptocurrency market may be on the brink of another bull run, and three coins are currently making headlines: Internet Computer (ICP), Sui (SUI), and BlockDAG (BDAG).