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Bitcoin, Altcoin and Cryptography explained

Bitcoin is the best known cryptocurrency at this moment, also called virtual money. Bitcoin is decentralized, this means there is no owner or central control. Transactions in the Bitcoin network are sent in a cryptographic form and processed by miners using computers and specialized hardware with huge calculating power.On this page the following subjects will be described:

How does the Bitcoin network work?What is an altcoin?Advantages of crypto currenciesCompare hardware wallets

The Bitcoin netword is based ona blockchain, an administration of all transactions between the different bitcoin addresses. Every 10 minutes a new block will be created, containing all transactions of these 10 minutes plus the previous block. Every transaction will exist forever (as long as the blockchain exists).

Along with the information of the transaction, other information can be added in a block. It is not possible to change or delete this information. Adding information will create many interesting user posibilities, which do not exist in other payment methods.

Bitcoins can be mined by using special hardware to translate encrypted codes. These codes represent all transactions in a block, and the miner who finds the block first will be rewarded with an amount of bitcoins (currently 12,5). The financial effort you have to put into mining, like costs for electricity and hardware, is called proof of work.

This makes the bitcoin blockchain super secure, because to alteror delete something in the blockchain you will have to input a greater proof of work than all of the current miners together. At that moment the total computing power (hash power) that is mining on the Bitcoin network is so incredibly huge, that for a single person, company, or even government, it is impossible to deliver more hash power to over ride the current mining operation.

Besides finding new blocks, miners will also earn on transaction fees. The most amount of bitcoins that will ever be found is limited to 21 million, and they will be harder to find because every four years the mining reward will be reduced by fifty percent. The value of bitcoin will not be affected by dilution, because the supply is limited. That understood, bitcoin can be a profitable investment in times of quantitive easing and you can store them safely on a hardware wallet.

Besides bitcoins, there are many altcoins on the market. An altcoin (alternative coin) is a virtual coin, same as bitcoin, based on cryptography. There are hundreds of different alt coins available and most of themhave the goal to become an improved version of Bitcoin.The best known alt coins are Ethereum, Lightcoin, Zcashand Monero, and are designed with a focus on a specific application. Some of these coins are certainly interesting, but the grand question is will they win the race with Bitcoin to become the most dominant coin. Bitcoin is by far the most famous and accepted coin. All the hardware wallets are also supporting some alt coins.

Cryptocurrencies like Bitcoin contain big advantages compared to fiat money. A Bitcoin wallet is anonymous and so you dont have to provide your name and address. As long as you own the public key of the wallet, you have the power over the bitcoins you own.

Furthermore the transaction costs are extremely low and there is no 3rd party able to cancel your transaction. In a short period of time you can send an unlimited amount of money all over the world. Also, small payments are possible with Bitcoin, creating many new possible applications.

Maybe the most promising application, not known by many people yet, is the ability to add information into the blockchain. For example, you can make a house payment and directly register the ownership in the blockchain. Besides ownership you can also register other things like your identification.

In the future, Bitcoin and blockchain technology will create applications like smart contracts and automated payments between machines, changing the status quo. In addition, crowd funding will be raised to a new level.Bitcoin use can apply to many financial functions like store of value (gold, silver), hedging against crashes of stocks, other financial products, and of course, just as a payment system.

Reed more:

What is a hardware wallet?

Everything about security of your bitcoins.

Trezor wallet reviewed.

Ledger wallet reviewed.

Keepkey wallet reviewed.


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Bitcoin, Altcoin and Cryptography explained

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Must I pay tax this year if I transfer bitcoin from …

“In 2014, the IRS issued a noticeclarifying that it treats digital currencies such as Bitcoin as capital assets and are therefore subject to capital gains taxes. The notice provides that virtual currency is treated as property for U.S. federal tax purposes, it reads. General tax principles that apply to property transactions apply to transactions using virtual currency.

The character of gain or loss from the sale or exchange of virtual currency depends on whether the virtual currency is a capital asset in the hands of the taxpayer.

Thus, not every transfer of funds is considered a sale. For the user, sending bitcoins from a Coinbase account to their Trezor hardware wallet, for example, is only a transfer and not a sale since the user is still in possession of the coins.

You should keep your own records for best results and update the report accordingly, Coinbase support explains. For example, if you transfer funds offsite to a desktop wallet, and then back again, you would not count this as a sale of digital currency.

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Must I pay tax this year if I transfer bitcoin from …

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Will a 1099-B form work best for reporting bitcoin …

How to report bitcoin transactions depends on how they are classified.

Here is some TurboTax guidance to help you decide where to report transactions:

It depends on how those currencies were held and used. Based on that, the IRS determines whether to treat the currency as income or property.

Bitcoin used to pay for goods and services is taxed as income:

Bitcoin held as capital assets is taxed as property:

If you hold Bitcoin as a capital asset, you must treat it as property for tax purposes. General tax principles applicable to property transactions apply. In other words, just like stocks or bonds, any gain or loss from the sale or exchange of the asset is taxed as a capital gain or loss. Otherwise, the investor realizes ordinary gain or loss on an exchange.

Bitcoin received as incomeand then held and sold for profitis taxed as both:


Yes. The IRS is taking cryptocurrency very seriously, to the extent that they took the digital currency exchange Coinbase to court to obtain user records and now have a contract with digital forensics company Chainalysis to help track cryptocurrency transactions.

Note: Many people have been unsure of how to treat Bitcoin, so you may have recorded earnings incorrectly on prior returns. If you need to amend a previous return, follow these steps. (We also have a video that shows you how.)


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Virtual Network Virtual Private Cloud | Microsoft Azure

Your private network in the cloud

Customers running Virtual Network

Azure Virtual Network gives you an isolated and highly-secure environment to run your virtual machines and applications. Use your private IP addresses and define subnets, access control policies, and more. Use Virtual Network to treat Azure the same as you would your own datacenter.

Traffic between Azure resources in a single region, or in multiple regions, stays in the Azure networkintra-Azure traffic doesnt flow over the Internet. In Azure, traffic for virtual machine-to-virtual machine, storage, and SQL communication only traverses the Azure network, regardless of the source and destination Azure region. Inter-region virtual network-to-virtual network traffic also flows entirely across the Azure network.

In a virtual network, run your favorite network virtual appliancesWAN optimizers, load balancers, and application firewallsand define traffic flows, allowing you to design your network with a greater degree of control.

Use Virtual Network to extend your on-premises IT environment into the cloud, like you set up and connect to a remote branch office. You have options to securely connect to a virtual networkchoose an IPsec VPN or a private connection by using Azure ExpressRoute.

Use Virtual Network to build your hybrid cloud applications that securely connect to your on-premises datacenterso an Azure web application can access an on-premises SQL Server database, or authenticate customers against an on-premises Azure Active Directory service.

Use Virtual Network to build your services that rely on Azure cloud services and Azure Virtual Machines. Use Azure web roles for your front end and virtual machines for backend databases. Combine platform as a service (PaaS) and infrastructure as a service (IaaS) in a virtual network to get more flexibility and scalability when youre building apps.

Find and take advantage of popular networking appliances, load balancers, and firewall and traffic management solutions in the Azure Marketplace.

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Virtual Network Virtual Private Cloud | Microsoft Azure

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Bitcoin (BTC) price: News & Live Chart – Trading Analysis …

Bitcoin is a digital currency, sometimes referred to as a cryptocurrency, best known as the world’s first truly decentralized digital currency. Bitcoin is traded on a peer-to-peer basis with a distributed ledger called the Blockchain, and the Bitcoin exchange rate to the US Dollar and other major currencies is determined by supply and demand as with other global exchange rates. The traded value of Bitcoin has proven volatile through various booms and busts in demand. Ultimately, however, many see Bitcoin as a store of value against government-backed fiat currencies.

Abbreviated as BTC, Bitcoin is actively traded against the world’s major currencies across decentralized markets. Bitcoins are kept in so-called Bitcoin wallets, which depend on private keys and cryptography to secure its Bitcoins to a specific entity or user.

By comparison to government-backed global currencies, Bitcoin remains fairly complex for the typical user to acquire and use in regular transactions. Growing interest and significant global investments in Bitcoin wallet and Blockchain technology have nonetheless made buying and selling Bitcoin far more accessible to the average user. And indeed growing acceptance by government entities have ameliorated the ambiguity of legal and regulatory status for Bitcoin and Bitcoin exchanges.

You can find historical price of Bitcoin on our chart and latest news and analysis on the Bitcoin exchange rate.

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Why is Internet security important? |

Alone, computers are powerful tools. The Internet, however, provides even more potential. For businesses and government entities, the Internet provides a means of allowing customers to handle accounts without having to come to a physical location or talk on the phone. When Internet-accessible information is not secured, however, the consequences can be disastrous.

Databases often store social security numbers and credit card information, which can be used to rob victims and steal identities. One breach can lead to millions of compromised identities, so syndicates in China, Russia and elsewhere are investing a significant amount of time and energy into launching these attacks.

As more organizations move to cloud-based operations, the importance of Internet security is being emphasized. The cloud paradigms require that information be made available over the Internet; personal documents are stored on remote servers. Top-notch security is essential for preventing this information from being stolen. Businesses, in particular, are at great risk; stolen internal documents can cause a tremendous amount of harm.

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Why is Internet security important? |

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AVG Internet Security Unlimited 2018 18.2.3827 20% OFF …

AVG Internet Security Unlimited (formerly AVG Protection) is the best protection for all your devices. Includes AVG Internet Security, AVG AntiVirus for Android, AVG AntiVirus for Mac.

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With Free AVG Zen app for Android phones or tablets, you can remotely manage the protection of all your PC and Android devices. And keep track of the security status of any Mac all from one place.

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Encryption Software Market – Global Forecast to 2022

The encryption software market size is expected to grow from USD 3.87 Billion in 2017 to USD 12.96 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 27.4%.

The demand for encryption software is likely to be driven by various factors, such as proliferation in the number of cyber-attacks and the stringent government regulations and compliances that mandate the adoption of encryption among various verticals.

The encryption software market has been segmented on the basis of components (solution and services), applications, deployment types, organization sizes, verticals, and regions. The services segment is expected to grow at the highest CAGR during the forecast period and the solution segment is estimated to have the largest market size in 2017 in the market.

Professional services have been widely adopted by organizations, as these services involve expert consulting, support and maintenance, and optimization and training for cybersecurity. However, the managed services segment is expected to grow at the highest CAGR during the forecast period, as managed security vendors provide extensive reporting capabilities for validating the regulatory compliance with internal security policies for the users.

The disk encryption application is estimated to hold the largest market share in 2017. The importance of encrypting a disk is that, if the encrypted disk is lost or stolen, the encrypted state of the drive remains unchanged, and only an authorized user will be able to access its contents. The cloud encryption application is expected to grow at the fastest rate during the forecast period.

Encryption solutions and services have been deployed across various verticals, including Banking, Financial Services, and Insurance (BFSI); aerospace and defense; government and public utilities; healthcare; telecom and IT; retail; and others (manufacturing, education, and media and entertainment). The telecom and IT vertical is expected to grow at the highest CAGR during the forecast period. However, the BFSI vertical is estimated to have the largest market size in 2017.

The global encryption software market has been segmented on the basis of regions into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America, to provide a region-specific analysis in the report.

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Premium Insights 4.1 Attractive Opportunities In Encryption Software Market, 2017-2022 4.2 Encryption Software Market, Share Of Top 3 Applications And Regions, 2017 4.3 Encryption Software Market, By Service, 2017-2022 4.4 Encryption Software Market, By Professional Services, 2017 4.5 Encryption Software Market, By Deployment Type, 2017-2022 4.6 Encryption Software Market, By Organization Size, 2017-2022 4.7 Market Investment Scenario, 2017-2022

5. Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers Growing Concern Over Critical Data Loss In On-Premises Environment Exploitation Of Big Data Analytics Poses Risk To Cloud Environment Regulations To Increase Adoption Of Encryption Solutions 5.2.2 Restraints Lack Of Budget For Adopting Best-In-Class Encryption Solutions Lack Of Awareness About Encryption And Performance Concerns Among Enterprises 5.2.3 Opportunities Surge In Demand For Integrated, Cloud-Based Encryption Solutions Among Smes Large-Scale Adoption Of Encryption Solutions In Bfsi Vertical 5.2.4 Challenges Complexities In Management Of Encryption Keys Lack Of Skilled Workforce Among Enterprises 5.3 Regulatory Implications 5.3.1 Payment Card Industry Data Security Standard 5.3.2 Health Insurance Portability And Accountability Act 5.3.3 Federal Information Security Management Act 5.3.4 Sarbanes-Oxley Act 5.3.5 Gramm-Leach-Bliley Act 5.3.6 Federal Information Processing Standards 5.3.7 General Data Protection Regulation 5.4 Innovation Spotlight 5.5 Use Cases 5.5.1 Large-Scale Adoption Of Email Encryption By Financial Organizations In The Uk 5.5.2 Adoption Of Encryption Solution By A Clinical Research Company 5.5.3 Reliance Of Small And Medium Financial Companies On Data Encryption 5.5.4 Large-Scale Adoption Of Encryption By It And Telecom Company 5.5.5 Need For Best-In-Class Encryption Solutions For Government Sector In Canada 5.5.6 Healthcare Vertical Relying On Cloud-Based Encryption Solutions 5.6 Type Of Encryption Algorithms 5.6.1 Data Encryption Standard 5.6.2 Advanced Encryption Standard 5.6.3 Triple-Des 5.6.4 Blowfish Algorithm 5.6.5 Homomorphic Encryption 5.6.6 Rsa 5.6.7 Diffie-Hellman Key Exchange 5.6.8 Quantum Cryptography 5.6.9 Post Quantum Cryptography

6. Encryption Software Market Analysis, By Component 6.1 Introduction 6.2 Solution 6.2.1 Types Of Data Encrypted Data At Rest Data In Transit Data In Use 6.2.2 Types Of Encryption Symmetric Encryption Asymmetric Encryption 6.2.3 Key Management 6.3 Services 6.3.1 Professional Services Support And Maintenance Training And Education Planning And Consulting 6.3.2 Managed Services

7. Encryption Software Market Analysis, By Application 7.1 Introduction 7.2 Disk Encryption 7.3 File/Folder Encryption 7.4 Database Encryption 7.4.1 Application-Level Encryption 7.4.2 Database-Level Encryption 7.5 Communication Encryption 7.5.1 Voice Encryption 7.5.2 Email Encryption 7.5.3 Instant Messaging Encryption 7.6 Cloud Encryption

8. Encryption Software Market Analysis, By Deployment Type 8.1 Introduction 8.2 On-Premises 8.3 Cloud

9. Encryption Software Market Analysis, By Organization Size 9.1 Introduction 9.2 Large Enterprises 9.3 Small And Medium-Sized Enterprises

10. Encryption Software Market Analysis, By Vertical 10.1 Introduction 10.2 Banking, Financial Services, And Insurance 10.3 Aerospace And Defense 10.4 Healthcare 10.5 Government And Public Utilities 10.6 Telecom And It 10.7 Retail 10.8 Others

11. Geographic Analysis

12. Competitive Landscape

13. Company Profiles

For more information about this report visit

Media Contact:

Laura Wood, Senior Manager

For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716

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SOURCE Research and Markets

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Encryption vs. Cryptography – What is the Difference?

written by: J. Forlandaedited by: Lamar Stonecypherupdated: 5/26/2015

Many people use the terms encryption or cryptography interchangeably. However, they are different. Cryptography is the science of secret communication, while encryption refers to one component of that science. Get the basic definitions here.

In simple terms, cryptography is the science concerned with the study of secret communication.

If you look at the origin of the root words of cryptography (crypto and graphy), you will see that “crypto” stands for “hidden, secret”, and “graphy” denotes “a process or form of drawing, writing, representing, recording, describing, etc., or an art or science concerned with such a process.” So you can see that cryptography is indeed the science concerned with secret communication.

If you check Google to see what the term “cryptography” means (i.e. “define: cryptography”), you will see a long list. And if you check you will at least see three variation of its definition:

With the advent of digital technology, the need for secure communication has greatly expanded. This makes cryptography even more importnat than ever before.

If you breakdown the the base word–“encrypt”–into its root, you will see “en” and “crypt”. The “en” part means “to make”, and the “crypt” part (a variation of “crypto”) means hidden or secret. Since “encrypt” is a verb, the base term then means “to make hidden or secret”.

Thus “encryption” basically is some process or algorithm (known as a cipher) to make information hidden or secret. And to make that process useful, you need some code (or key) to make information accessible.

About Ciphers

There are many types of ciphers developed over time.

In the days of written communication, most common ciphers involved some form or substitution or transposition of alphabetical letters. Substitution means to substitute one character for another while transposition is some form of repositioning characters within the message (which literally scrambles the information).

In the digital age, ciphers changed and are generally based on two types of algorithms–one using the same key to encrypt and decrypt, and one using different keys to encrypt and decrypt (also known as symmetric and asymmetric key algorithms, respectively). The one that uses symmetric keys falls under private-key cryptography, while asymmetric key algorithms falls under public-key cryptography. DES (Data Encryption Standard) and AES (Advanced Encryption Standard) are two well known ciphers based on symmetric key algorithms, while RSA (Rivest, Shamir and Adleman) is a well known cipher based on asymmetric key algorithms.

Clearly and simply the term cryptography is the study or science of secret communication, while encryption is simply a component of that science. Encryption is the process of hiding information, through the use of ciphers, from everybody except for the one who has the key. Encryption is a direct applicaton of cryptography, and is something that websites use every day to protect information.

In today’s digital world, there are two major types of ciphers–one based on symmetric and one based on asymmetric key algorithms.

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What AES Encryption Is And How It’s Used To Secure File Transfers


First adopted by the US government to protect classified information, AES has long gained global acceptance and is used for securing sensitive data in various industries – most likely including yours. In this post, you’ll learn about AES encryption and understand its vital role in securing sensitive files you send over the Internet.

AES or Advanced Encryption Standard is acipher, i.e., a method for encrypting and decrypting information. Whenever you transmit files over secure file transfer protocols like HTTPS, FTPS, SFTP, WebDAVS, OFTP, or AS2, there’s a good chance your data will be encrypted by some flavor of AES – either AES 256, 192, or 128. We’ll discuss more about these three shortly.

Differentsecure file transfer softwaremay be equipped with varying selections of encryption algorithms. Some ciphers may be included in certain selections but absent in others. Not AES. AES will almost certainly be present in all but a few. Why is this so? It all started when the US government began looking for a new encryption algorithm that would be used to protect sensitive data.

For about two decades since 1977, the US government used a cipher called DES (Data Encryption Standard) to protect sensitive, unclassified information. Unfortunately, that cipher was later on proven to be insecure, prompting the government to look for a replacement.

This led to a standardization process that attracted 15 competing encryption designs, which included – among others – MARS from IBM, RC6 from RSA Security, Serpent, Twofish, and Rijndeal. It was Rijndael, designed by two Belgian cryptographers (Joan Daemen and Vincent Rijmen), that eventually became the standard and henceforth acquired the title Advanced Encryption Standard or AES.

The selection process was very stringent, taking 5 years to complete. During that span, many experts from the cryptographic community carried out detailed tests and painstaking discussions to find vulnerabilities and weaknesses. The participation of different sectors, which showed the openness of the selection process, speaks volumes of how credible the process was.

Although the cipher’s strength against various attacks was a major consideration in choosing the standard, other factors like speed, versatility, and computational requirements were likewise given importance. The government wanted an encryption standard that wasn’t just strong, but also fast, reliable and easily implemented in both software and hardware – even those with limited CPU and memory.

Although the other encryption algorithms were also very good (Some of those ciphers are also widely used today but understandably don’t enjoy the same level of acceptance as AES) the Rijndael cipher was ultimately selected and declared a Federal Information Processing Standards or FIPS standard by the NIST (National Institute of Standards and Technology) in 2001. It was approved by the Secretary of Commerce and then recognized as a federal government standard the following year.

Note: The official AES standard is specified in FIPS PUB 197.

The rise of AES didn’t end there. In 2003, the government deemed it suitable for protecting classified information. In fact, up to this day, the NSA (National Security Agency) is using AES to encrypt even Top Secret Information.

That should explain why AES has gained the confidence of various industries. If it’s good enough for the NSA, then it must be good enough for businesses.

AES belongs to a family of ciphers known as block ciphers. A block cipher is an algorithm that encrypts data on a per-block basis. The size of each block is usually measured in bits. AES, for example, is 128 bits long. Meaning, AES will operate on 128 bits of plaintext to produce 128 bits of ciphertext.

Like almost all modern encryption algorithms, AES requires the use of keys during the encryption and decryption processes. AES supports three keys with different lengths: 128-bit, 192-bit, and 256-bit keys. The longer the key, the stronger the encryption. So, AES 128 encryption is the least strong, while AES 256 encryption is the strongest.

In terms of performance though, shorter keys result in faster encryption times compared to longer keys. So 128 bit AES encryption is faster than AES 256 bit encryption.

The keys used in AES encryption are the same keys used in AES decryption. When the same keys are used during both encryption and decryption, the algorithm is said to be symmetric. Read the article Symmetric vs Asymmetric Encryption if you want to know the difference between the two.

As mentioned earlier, AES is implemented in secure file transfer protocols likeFTPS, HTTPS, SFTP, AS2, WebDAVS, and OFTP. But what exactly is its role?

Because symmetric and asymmetric encryption algorithms each have their own strengths, modernsecure file transfer protocols normally use a combination of the two. Asymmetric key ciphers a.k.a. public key encryption algorithms are great for key distribution and hence are used to encrypt the session key used for symmetric encryption.

Symmetric key ciphers like AES, on the other hand, are more suitable for encrypting the actual data (and commands) because they require less resources and are also much faster than asymmetric ciphers.The articleSymmetric vs Asymmetric Encryptionhas a more thorough discussion regarding these two groups of ciphers.

Here’s a simplified diagram illustrating the encryption process during a typical secure file transfer secured by SSL/TLS (e.g. HTTPS, FTPS, WebDAVS) or SSH (e.g. SFTP). AES encryption operates in step 3.

That’s it. I hope you learned something useful today.

If you like reading posts like this, subscribe to this blog or connect with us.

Looking for a secure file transfer server that supports AES? Try JSCAPE MFT Server. It uses AES encryption on its FTPS, SFTP, HTTPS, WebDAVS, AS2, and OFTP services. Download a free, fully-functional evaluation edition now.

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