Lightning is not a silver bullet, but it will significantly aid in the utility of Bitcoin and the expansion of its monetary regime.
Money invention is something that necessitates first principles. Much like our founding fathers who found it more suitable to create a new system of government from scratch, rather than monkey-patch the existing agreement called the Articles of Confederation; Bitcoiners find it more suitable to create money from scratch rather than mangle our minds and hands through the legacy infrastructure that stilts today’s existing financial system. …
We describe Bitcoin transactions, restricted transactions called Covenants, and our own research into secure Bitcoin custody using a type of Covenant called Vaults.
Custody sits core to digital asset infrastructure and is dictated by key management. Keys are what generate signatures that can spend bitcoins, and thus, key management determines how digital assets are held and secured. The problem the FCAT team tried to solve was the access, incentives and corresponding attack surfaces that are presented when keys, or a set of keys, are compromised. In that, attackers can arbitrarily spend bitcoins custodied by those compromised keys at will.
In this post we will be going over Algorand wallet security and wallet and account interaction. Specifically we will be looking at the steps and mechanisms involved in:
Please make sure you have an Algorand TestNet node running and make sure that you start the kmd process.
We will be using a few methods from the algosdk to make all of this happen:
Running a node on Algorand is a very fast and straightforward process.
Sandbox makes the process of node creation and configuration seamless with several helpful commands for containerization and process management. It is simply a quick and easy way to create and configure an Algorand node using Docker.
Sandbox simplifies the process of node configuration and maintenance allowing you to quickly spin up a containerized node on any of the three Algorand networks as well as managing it through the sandbox environment.
Note: Sandbox is directed at learning and not meant for production.
First, make sure you have Docker installed…
Algorand now has assets!
Algorand Standard Asset or ASA is a Layer-1 feature that enables the creation and representation of any asset, digitally on the Algorand blockchain. The benefits of implementing these sorts of asset management features into the base layer protocol is for the enhanced security, compatibility and efficiency guarantees that are offered for any Layer-1 Algorand transaction.
In this post, we are going to create an asset using
goal and then use React to “opt into” receiving the asset.
goal is the…
Docker containers have become incredibly popular improving ease of use, scalability and reproducibility. Running Algorand on Docker replicates those benefits quite nicely.
Docker takes your operating systems and splits it into several self-contained areas where applications can run. This is very similar to the concept of a virtual machine where developers take a single OS and divide it into many small OS’ — in this case, each divided area thinks that it is running on its own system. The problem with this approach is that it is quite resource intensive and it is not ideal to run many VM’s on…