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Bitcoin ($BTC USD) Vs Ethereum ($ETH): Which Cryptocurrency Price Is Better? – Bloomberg

Follow us @crypto for our full coverage.

The relative resilience of Ether in Mays cryptocurrency rout has put the spotlight back on the idea that the second-largest digital token could one day overtake Bitcoin by market value.

Right now the largest virtual currency is more than twice as big as Ether but the gap narrowed by about $350 billion in May, courtesy of one of Bitcoins worst drops and a smaller retreat in Ether. Fans of Ether cite its popularity for blockchain-based financial services and digital collectibles, as well as an ongoing upgrade to boost the efficiency of the affiliated Ethereum network.

Ether will likely exceed Bitcoin at some point in the future, as Ethereum will be superior when it comes to innovation and developer interest, said Tegan Kline, co-founder of blockchain software company Edge & Node. But she also said that investors should be allocating capital to both tokens.

The speed of change in the crypto sector makes prognostication perilous. Even so, Goldman Sachs Group Inc. strategists and star investor Cathie Wood are among those who highlighted Ethers potential recently. More broadly, interest in virtual currencies has expanded out beyond Bitcoin, whose share of $1.6 trillion in total crypto market value is down to 42% from about 70% going into 2021, according to data from CoinGecko.

In a report last week, Goldman commodity strategists Mikhail Sprogis and Jeff Currie wrote that Bitcoins first-mover advantage appears fragile, adding theres a high chance it will eventually lose its crown as the dominant digital store of value to another cryptocurrency with greater practical use and technological agility.

They said Ether seems the most likely candidate to surpass Bitcoin, while adding the rider that such an outcome is far from certain. Ethers annual supply growth is capped, they said, aiding its credentials as a store of value.

Pat LaVecchia, chief executive of crypto broker Oasis Pro Markets LLC, argues Ether is starting to be viewed as a better growth story for the long term.

Bitcoin is down some 37% in May, one of its worst monthly retreats on record, while Ether has shed about 11%. The largest token retreated 1% to $35,750 as of 8:27 a.m. in London. Ether was little changed at $2,447. Virtual currencies have been under pressure after Elon Musk criticized Bitcoins energy profile and China stepped up regulatory rhetoric.

For some, Bitcoin will fend off rivals to stay in top spot, not least because of the sheer amount of attention it gets. For instance, Andrew Kiguel, chief executive of Tokens.com, argues Bitcoin has the best outside validation signals given how institutions and tycoons like Musk keep talking about it.

Bitcoin will still remain king of the cryptos, said Edward Moya, senior market analyst at Oanda Corp. Bitcoin had too big of a lead for Ethereum to catch and has one major advantage, a fixed supply of only 21 million coins.

Ether is up more than 900% over the past year, exceeding Bitcoins 275% climb. Given the huge gains, the debate on what crypto insiders call the flippening -- a future where Ethers value overtakes Bitcoin -- will likely stay alive for a while yet.

Before it's here, it's on the Bloomberg Terminal.

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Bitcoin ($BTC USD) Vs Ethereum ($ETH): Which Cryptocurrency Price Is Better? - Bloomberg

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Top Cryptocurrency Prices Today: Cardano, Ethereum, XRP gain up to 6% – Economic Times

New Delhi: Major crypto market tokens regained their initial gains on Monday. The cuts in daily prices have been marginal, but tokens including Cardano, Maker and XRP gained up to 10% per cent in the last 24 hours.

Prices of nearly all crytos tumbled after China Banking Association recently warned member banks of the risks associated with digital currencies. Murmurings of tighter regulations on digital tokens have put pressure on them. Despite such a massive crash, investors and traders continue to be bullish about cryptos.

Cryptocurrency market has been less volatile of late but major digital tokens are down by a third this month, weighed by growing regulatory pressures on the sector. Many digital currencies are trading at half of their peak after gaining in the beginning of this year.

Back home, leading domestic banks are clamping down on customers using bank accounts for cryptocurrency transactions. Major lenders such as HDFC Bank and State Bank of India have sent official notices to customers warning them of curbs, including permanent closure of accounts.

The move comes after the 'informal' diktat by RBI issued last week asked banks to stop dealing with cryptocurrency exchanges. The move has seen major backlash from crypto exchanges and traders.

"The weekend was pretty steady with most major currencies moving northwards. We will see this behaviour continue as markets consolidate further and money in the ecosystem evens out. Over the next few days, we will see bitcoin dominance dip and most of that money to flow into Altcoins like ETH and BNB", said Edul Patel, CEO & Cofounder, Mudrex

Crypto prices as of 09:50 IST (Source: coinmarketcap.com)

The cryptocurrency is based on the Bitcoin (BTC) protocol but differs in terms of its hashing algorithm, hard cap, block transaction time along with a few other technical factors. LTC currently has a block time of just under 2.5 minutes and very low transaction fees, which makes it suitable for micro-transactions and POS payments.

Today, Litecoin is one of the most widely accepted cryptocurrencies, and more than 2,000 merchants and stores now accept LTC across the globe.

Technically, LTC, on the four hourly time frame, made a Hammer pattern (trend reversal pattern) at the support level of $117.58 and the prices started moving upwards making Higher Top Higher Bottom formation up to the resistance level of $208.98. Post this, the asset is consolidating and trading in a range from $160 to $200. Hence, breakouts on either side will further decide the trend of the asset.

Key levelsSupport: $117 and $155Resistance: $220 and $247

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Top Cryptocurrency Prices Today: Cardano, Ethereum, XRP gain up to 6% - Economic Times

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Miami to host largest cryptocurrency conference in history – Fox Business

New York Stock Exchange President Stacey Cunningham on todays markets, the reopening economy, cryptocurrencies and potential higher taxes under the Biden administration.

Miami is hosting the largest-ever cryptocurrency conference this week in a sign that what was once dismissed as a passing fad is now going mainstream.

The conference, which runs from June 3 to June 5 at the Mana Convention Center in Miamis Wynwood neighborhood, brings a host of reputable attendees including Twitter CEO Jack Dorsey and Miami Mayor Francis Suarez, who has said he wants to make the city a crypto hub.

Financial data analysis graph showing global market trends. Selective focus. Horizontal composition with copy space. (iStock)

The conference was originally scheduled to run from April 30 to May 1 in Los Angeles but was changed to Miami amid concerns of Californias strict COVID-19 policies. The date was also changed back to allow time for the second wave of the virus to pass and allow vaccines to roll out.

BITCOIN CONTENDS WITH BIGGEST MONTHLY DROP ON RECORD

Conference organizers expect upwards of 50,000 attendees.

Though still small compared to its west coast counterparts, Miami has emerged as a major tech hub in recent years. The Wynwood neighborhood, in particular, has become a hub for arts, technology, and innovation.

Mayor Suarez told Fox Business in January he is looking into allowing citizens to pay taxes and fees to the city in bitcoin.

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"We want to be one of the most crypto-forward and technological cities in the country," he said. "So we're looking at creating a regulatory framework that makes us the easiest place in the United States to do business if you're doing it in cryptocurrencies."

Fox Business Catie Perry contributed to this report.

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Miami to host largest cryptocurrency conference in history - Fox Business

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Cryptocurrency INR price May 31: Bitcoin, Dogecoin, Ethereum, Shiba Inu and other top coins-check how they… – Zee Business

Cryptocurrencies, led by Bitcoin, have had a sluggish weekend and were down from 5 to 15 percent and more on Saturday and Sunday. All major coins including, Dogecoin, Ethereum, Cardano, Shiba INU and Polka dot, traded in negative on the last two days. It appears cryptocurrencies are still struggling to come out of the jolt served by China after it banned financial, payment institutions from cryptocurrency business. Under the ban, such institutions, including banks and online payments channels, was barred from offering clients any service involving cryptocurrency.

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On Monday May 31 at 12.40 pm, the prices of these coins marginally improved, however, most of these coins continued to trade in red. Overall crypto market was down by 1.56% in the last 24 hours, as per CoinSwitch Kuber data. Let's check prices of some of the famous coins in Indian Rupee (Rs) at CoinSwitch Kuber and Wazirx, top two famous exchanges available for trading in India.

1. Bitcoin: Rs 27, 62,375, down 1.17 %1-day highest: Rs 28,57,7761-Day lowest: Rs 27,01564

2. Ethereum: Rs 1,89,904, up Rs 0.42 per cent1-day highest: 1,93,1831-day lowest: Rs 1,81,090

3. Polka Dot: Rs 1,614, down 1.63 per cent1-day highest: Rs 16771-day lowest: Rs 1520

4. Cardano: Rs 125, down 1.24 per cent1-day highest: Rs 1331-day lowest: Rs 121

Dogecoin: Rs 23, down, 0.37 per cent1-day highest: Rs 241-day lowest: Rs 23

Shiba Inu: Rs 0.000611, down, 0.66 per cent1-day highest: Rs 0.000572 241-day lowest: Rs 0.000629

The cryptocurrencies mentioned here have been selected either on the basis of their rankings or their popularity. Readers should know that cryptocurrency trading is not banned in India but there is apprehension among traders due to lack of regulations.

Earlier on March 5, The Supreme Court had lifted the ban imposed by the Reserve Bank of India (RBI) trading in cryptocurrencies.

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Cryptocurrency INR price May 31: Bitcoin, Dogecoin, Ethereum, Shiba Inu and other top coins-check how they... - Zee Business

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Quantum computers have the potential to crack todays encrypted messages.Its a problem – Illinoisnewstoday.com

By 2029, Google plans to create a million-qubit quantum computer that is far more powerful than the system shown in 2019.

Stephen Shankland / CNET

When quantum computers are mature enough, many of todays cryptography can be cracked. This reveals private communications, corporate data, and military secrets.

Quantum computers today are too primitive to do that. However, the data currently secretly collected can still be sensitive when more powerful quantum computers come online a few years later.

The computing industry is well aware of this potential vulnerability. Some companies are embarking on creating, testing, and adopting new cryptographic algorithms that are not affected by quantum computers. Some of these companies, including IBM and Thales, have already begun offering products protected by so-called post-quantum cryptography.

Quantum Safe Encryption penetrates your life through upgraded laptops, phones, web browsers and other products. However, most of the burden of quantum-secure encryption rests on the shoulders of enterprises, governments, and cloud computing services that need to design and install technology. This is a very complicated change Y2K bug fix Or upgrade Internet communication from IPv4 to IPv6..

Stay up to date with the latest information. Get the latest technical articles from CNET News on weekdays.

Its a tremendous effort, but it has to be done. Not only are todays communications vulnerable, but quantum computers can later crack digital signatures, guaranteeing the integrity of updates to apps, browsers, operating systems, and other software, paving the way for malware. There is.

Quantum computing is a dardardar kid in the industry, raising millions of dollars in investment.This month Google I / O Developer Conference, Search giant announced plans for a new quantum computing center that employs hundreds of people. Build a practical quantum computer by 2029Other major tech companies such as Honeywell, IBM, Intel and Microsoft are competing to build the first powerful quantum computer.So is Ion Q, PsiQuantum, Xanadu, Silicon quantum computing And other startups.

The National Institute of Standards and Technology is at the forefront of global efforts. Find Post-Quantum Cryptography Algorithms It will be fast and reliable.that is win 82 initial contributions Group of 7 finalists Two encryption tasks: digital key exchange and digital signature addition.

We plan to select a small number and start standardization in early 2022, said Dustin Moody. NIST A mathematician working on this effort spoke at the IBM Cryptography Conference in March. We want to fully prepare the final version and release it around 2024.

NIST oversees the work, but business, academia, and government researchers participate through NIST. Post-quantum cryptography mailing list And published PQC conferenceAn open approach is important because trusting cryptographic algorithms to protect passwords, credit card numbers, financial records, and other sensitive information requires a thorough scrutiny of the cryptographic algorithms.

When these machines can break traditional encryption is an open question. But safe money suggests that it wont take long.

John Graham Cumming, Chief Technology Officer of Internet Infrastructure Company Cloudflare, Said there is a lot of uncertainty: It can take five or twenty years for a quantum computer to be able to break the encryption. But Cloudflare is already Tested post-quantum protection And this year, we plan to adopt them for internal operations.

With researchers from Intel and NTT Research 451 Research Analyst James Sanders Think of it as taking about 10 years.

How urgent is the problem to be resolved?

Im not crazy at all, said Brian Lamacchia, who heads the encryption process at. Microsoft researchBut Im a little impatient.

The urgency is increasing because todays encrypted data can be collected quickly and decrypted later. Hackers and nations can record network data. For example: Internet routing issues send traffic across borders To China and other countries.

If long-term security is needed, it can even be too late, said Thomas Peperman, a crypto engineer at German semiconductor maker Infineon and one of the co-creators of the PQC algorithm candidate. T.

NIST evaluates the problem openlyOnce cyberattackers have access to the power of quantum computing, modern public-key-based cryptosystems cannot withstand testing. There is nothing an attacker can do to protect the confidentiality of previously stored encrypted material, the agency said.

Public key cryptography is the foundation of many of todays cryptography. Two digital keys, one secret and the other public, can be paired and used together to protect communications. For example, it is used to establish the security of connections between a web browser and a bank, or between a company server and a remote backup system.

In 1994, MIT professor Peter Shor discovered that quantum computers could find prime factors for numbers using a technique named after him. Shors algorithm Is a spark that has sparked interest in quantum computing for businesses, scholars and intelligence agencies, said Seth Lloyd, another professor at MIT and a pioneer in the field.

The resulting survey shows large companies and well-funded startups. Accelerating the pace of progress in quantum computingQuantum computer manufacturers are building machines with more qubits (basic data processing elements) while developing error correction technology to maintain stability over long calculations. I am. Algorithms speed up the decoding of quantum computersAlso.

Advances in Quantum Computing Drive Cyber Security Companies Deep watch To speed up the cryptanalysis timetable. He said it could happen in 10 to 15 years instead of 20 years Marissa Reese Wood, Vice President of Products and Strategy.

With todays ubiquitous RSA encryption algorithms, traditional computers require about 300 trillion years to decrypt communications protected by a 2,048-bit digital key. However, a quantum computer with 4,099 qubits requires only 10 seconds, Wood said.

For comparison, Google Quantum computer in 2029 with 1,000 logical qubits Stable enough to perform long calculations.

Quantum migration is, in many ways, more difficult than past cryptographic upgrades. One problem is that digital keys are likely to be large in size and require more memory to process them. Algorithm changes are not a simple replacement, especially for smart home devices and other products with limited computing power.

Even before NIST chooses a winner, enterprises can adopt cryptographic agility in todays computing infrastructure to ensure that their systems are independent of any particular cryptographic technology. This is the advice of several experts, including CEO Andersen Cheng. Post quantumIs a London-based company that helps customers deal with quantum cracking.

People thought I was crazy, Cheng said when he co-founded Post-Quantum in 2009. I dont think they are laughing anymore.

Experts also recommend a hybrid approach that double-protects data with both traditional and post-quantum cryptography encryption. This allows system administrators to accept PQC faster without worrying about potential weaknesses in relatively immature algorithms. Hybrid encryption is currently possible, but most people expect full-scale adoption of PQC after NIST standardization work is complete.

IBM already offers quantum-secure cryptography in some of todays cloud computing products. If you have a secret that needs to be kept secret in 10 to 30 years, you should start this transition sooner or later, said Vadim Lyubashevsky, a cryptographer at IBM Research.

France-based Thales, like IBM, adopted the PQC algorithm in the final round of NIST and began allowing clients to test the technology. This is important given the impact of financial and government agencies on customers.

Switching to quantum-secure encryption is difficult on slow-moving computing infrastructures.

Estonian voting cards have a signature algorithm that is physically printed on the chip, said Joel Arwen, chief crypto engineer at the secure communications company. WickerIt takes a lot of effort to change that.

Another difficult fix is the computer system that controls the power grid and military operations. They usually run for decades. But wherever sensitive data exists, post-quantum cryptography upgrades will take place, said Gartner analyst Martin Reynolds.

Twenty years later, Reynolds said. Everyone will be pleased that we have achieved it.

Quantum computers have the potential to crack todays encrypted messages.Its a problem

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Quantum computers have the potential to crack todays encrypted messages.Its a problem - Illinoisnewstoday.com

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Ravi Shankar Prasad: Govt not in favour of breaking WhatsApps encryption, users have full right to it – The Indian Express

India is not the only country seeking a regulatory mechanism to access limited data from end-to-end encrypted instant messaging platforms such as WhatsApp in order to be able to detect and prevent crime, Union Information Technology Minister Ravi Shankar Prasad said.

Also, this would not change anything for ordinary WhatsApp users, the Minister said.

On WhatsApp, I would like to clarify. The ordinary user of WhatsApp has nothing to fear. They will continue using WhatsApp as they have been using. What we are seeking is very limited, Prasad told The Indian Express in an interview.

Prasads comments come at a time when Facebook-owned WhatsApp has approached the Delhi High Court saying that the Ministry of Electronics and Information Technologys (MeitY) norms on the identification of the first originator of the information would mean breaking end-to-end encryption.

It is due to this end-to-end encryption that its users including government officials, law enforcement officials, journalists, members of ethnic and religious groups, scholars, teachers, and students are able to exercise their right to freedom of speech and expression without fear of retaliation, WhatsApp has said in its plea.

Prasad said that as much as the government respected the privacy of individuals and would follow the Supreme Courts instructions on the same, it should also be kept in mind that the same judgment had mentioned that terrorist, a criminal or a corrupt person does not have any right to privacy.

How could Cambridge Analytica obtain information of lakhs of social media users? Are all these lectures (on privacy) reserved for India? You (WhatsApp) are updating the privacy policy, saying that users who are interacting with the business account, their data will be shared with Facebook. There, they (WhatsApp) are themselves trying to compromise with privacy and here they are giving us gyaan on privacy. These are double standards, Prasad said.

An end-to-end encryption method on instant messaging platforms like WhatsApp means the message is encrypted in an unreadable format when it leaves the senders device and is decrypted in a readable format only when it is delivered on the intended receivers device.

WhatsApp and other instant messaging platforms have repeatedly claimed that even they cannot know what their users are sending, and therefore, cannot help governments when it comes to breaking the encryption even for specific cases.

On Wednesday, the IT Ministry had in a statement cited two sources of information to establish its claim that India was not alone in demanding that instant messaging platforms like WhatsApp include some mechanism in the design of their products and services so that governments and law enforcement agencies could, with the backing of an appropriate legal authority, access certain data in a readable format.

One of the sources that the Ministry cited was a October 11, 2020 press release from the Office of Public Affairs under the United States Department of Justice, while another quoted news reports that said Brazil was planning a similar approach to apprehend the data of drug traffickers.

We are not seeking the content of the WhatsApp message. We only say who started the mischief. And if it has come from abroad, who picked it up in India first? That is all. Therefore, we are not asking any big moon or breaking their encryption at all. I repeat, ordinary users have full right to encryption, Prasad said.

On February 25 this year, the government had announced new guidelines for all social media intermediaries, including instant messaging platforms. The IT Ministry had then mandated that instant messaging platforms should enable the identification of the first originator of the information on its computer resource.

Prasad also censured Twitter for its statement claiming the core elements of the new IT Rules were a threat to the freedom of expression for users in India and inhibited free, open public conversation.

Twitter had said it was particularly concerned about the requirement of making the chief compliance officer criminally liable for content on the platform.

Prasad said the government does not interfere on issues of social media on a daily basis, and does not want to either.

Does it require a big infrastructure to establish a good grievance redressal officer based in India whose name is in circulation? Does it require a UPSC (Union Public Service Commission) selection to have a nodal officer or a compliance officer? Why are you (Twitter) reluctant not to set up a good office with a grievance redressal mechanism? the Minister said.

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Ravi Shankar Prasad: Govt not in favour of breaking WhatsApps encryption, users have full right to it - The Indian Express

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Data Encryption, Zero Trust A Practical Review of Bidens Executive Order on Improving the Nations Cybersecurity – Security Boulevard

In the aftermath of the cyberattack on Colonial Pipeline that crippled the nations supply of oil and gas for almost a week, U.S. President Joe Biden, on May 11, 2021, signed an Executive Order. The order issued a slew of cybersecurity directives to companies on contract with the Federal Government.

Two terms that feature prominently in the order are data encryption and Zero Trust. Data encryption is a fundamental cybersecurity requirement, so its quite shocking that the latest order born out of a cyberattack had to call it out explicitly. However, this only goes on to show how lightly companies have taken data security in the past and continue to do so.

Almost every data security standard, law, or regulation was enacted to prevent cyberattacks. The PCI DSS standard for the credit card industry, HIPAA for the healthcare industry, the ISO standards for manufacturing, or the NERC Critical Infrastructure Protection (CIP) to protect North Americas electrical power grids all exist to thwart or recover relatively unscathed from cyberattacks and data breaches. And all of these laws have data encryption as their core tenet.

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But how effective are these laws? The PCI DSS standard came to being in 2004, but since then, countless credit card companies have been hacked (Equifax and Capital One being the notable ones). The HIPAA was first signed into law way back in 1996; however, just since 2020, healthcare and health insurance data breaches have gone up by 50%. True, some of the companies affected werent compliant with the laws, but many of them were and still got attacked. Also true is the fact that after every attack, the law concerned undergoes a revision, only to have its shortcomings exposed in the next attack.

Lets extend the above argument to Bidens Executive Order on National Cybersecurity. Say every private company that the Federal Government deals with follows the order and encrypts all of its data both at rest and in transit. Would that make the companies invincible to future cyberattacks?

The simple answer is NO.

In January 2021, the National Security Agency (NSA) released a cybersecurity product that recommended all private and government institutions to eliminate obsolete TLS protocol configurations (TLS 1.0, and TLS 1.1) by upgrading them to the latest version (TLS 1.2 or TLS 1.3). One statement in the product goes as follows:

Using obsolete encryption provides a false sense of security because it seems as though sensitive data is protected, even though it really is not.

Therein lies the catch. Organizations could be encrypting their data, but using weak or obsolete encryption defeats the purpose. While some IT systems still run on outdated data encryption, most OT (Operational Technology systems such as IoT, SCADA systems, sensors, actuators, and their controllers) use highly outdated encryption technology, making it an easy target for hackers. Hackers can use the vulnerable OT devices as a gateway to the core IT systems, and from there, steal sensitive customer data (though the opposite happened in Colonial attackers got to the IT first).

The only way to make sure data remains truly encrypted is by using the latest encryption protocols. For data in transit, TLS 1.2 or 1.3 is the latest protocol. Upgrading to the latest encryption protocol involves reconfiguring clients and servers to negotiate only that protocol.

A crucial part of the protocol upgrade is TLS certificate upgrade. A sizable enterprise, especially Federal Government service providers, can have over a million TLS certificates, both server and client. And in most enterprises, the management of these certificates is still manual. Manually upgrading a million TLS 1.0/1.1 certificates to TLS 1.2/1.3 is a herculean task and could take an enterprise up to two years with a dedicated team. This is why most enterprises put off upgrading encryption protocols indefinitely and face the obvious repercussions.

Automating the upgrade process. The process has the following steps:

There are some certificate lifecycle management tools that automate the above process end-to-end. With these tools, enterprises can accomplish the upgrade in less than a week. AppViewX CERT+ is one such certificate lifecycle automation tool thats worth looking into.

The Colonial Pipeline breach has brought to the fore the necessity of Zero Trust architecture. Zero Trust works on the premise that threat insides both inside and outside the organizations network perimeter (its also called Perimeter-Less Security).

In the present scenario, inside threat is not only limited to a careless or disgruntled employee but also nodes, devices, and services (collectively called machines). The attack on Colonial Pipeline and many attacks preceding it happened because an outsider exploited a vulnerability existing in a machine inside the network perimeter. In such cases, the actual threat is not the hacker but the vulnerable device.

One of the best ways to prevent internal machine vulnerabilities is by safeguarding their identities, i.e., certificates and keys. With the rise in new-age, ephemeral machines such as IoT devices and chatbots, there is an explosion of machine identities that increase the surface area for attacks.

Machine identity management is the hot new term (even Gartner has recognized it as one of the top security trends in 2021), and for good reason. So far, the spotlight has always been on human identity management; in fact, most Identity and Access Management (IAM) tools consider and manage only human identities. But with machines taking over, its high time organizations attached as much, if not more, importance to machine identities as human identities.

Again, machine identity management boils down to the proper management of certificates and keys. Certificates need to be constantly monitored, renewed before their expiration, and revoked immediately in case of a compromise. Organizations should make sure they get certificates for their customer-facing applications only from trusted CAs and store private keys and sensitive certificates in an isolated HSM (Hardware Security Module).

Another tenet of Zero Trust security is minimum access privileges for both humans and machines. Some tools that automate certificate lifecycle management also provide role-based access controls (RBAC) to restrict user access granularly. Similarly, machine-to-machine access can be restricted by imposing granular rules and policies, which also certificate management tools do.

Proactively prevent data breaches and outages with automated machine identity management. Try AppViewX CERT+ or give us a call.

The post Data Encryption, Zero Trust A Practical Review of Bidens Executive Order on Improving the Nations Cybersecurity appeared first on AppViewX.

*** This is a Security Bloggers Network syndicated blog from Blogs AppViewX authored by Nishevitha Ramamoorthy. Read the original post at: https://www.appviewx.com/blogs/data-encryption-zero-trust-a-practical-review-of-bidens-executive-order-on-improving-the-nations-cybersecurity/

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Data Encryption, Zero Trust A Practical Review of Bidens Executive Order on Improving the Nations Cybersecurity - Security Boulevard

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The Indian Government Wants to Break Messaging Encryption, WhatsApp’s Suing – Gizmodo

Photo: Yasuyoshi Chiba (Getty Images)

WhatsApp is taking Indias government to court over a new mandate that it claims will lead to mass surveillance of users in the companys biggest market.

Reuters was first to report on the suit filed in Dehlis high court, which WhatsApp confirmed to Gizmodo on Wednesday. The suit is WhatsApps attempt to push back against the Guidelines for Intermediaries and Digital Media Ethics Code (or intermediary guidelines, for short); a spate of sweeping tech regulations that go into effect across the country today. Since Indias authorities first rolled the rules out back in February, theyve drawn skepticism from legal experts and tech policy advocates across the region that have criticized the law for being overly broad in its attempts to wrangle major platforms. As Reuters points out, theres already at least one other case against the new rules brewing in Dehlis high court for that same reason.

Specifically, WhatsApps suit focuses on a provision stating that all major messaging appsincluding encrypted platforms like WhatsApp, Signal, and Telegramneed to give Indian authorities the power to trace private messages. Until now, when WhatsApp is approached by authorities with requests for information, those authorities need to ask about a specific account that they can prove is using the platform for something criminal. In a nutshell, the new mandate would mean that these same authorities can approach WhatsApp with a specific piece of criminal content, and order the platform to cough up details about the account that was first caught sharing it.

As always, please dont take Facebooks word for this. Its a stupid approach for a slew of reasons. Experts have already pointed out, theres really no way for platforms to parse apart whether an account is actually creating this content themselves, or if theyre simply re-sharing something theyve found elsewhere. Under the new mandate, a WhatsApp user could have their account scrutinized by authorities if theyre trying to fact-check or raise alarms about a piece of problematic content.

WhatsApp pointed Gizmodo towards a company blog post calling out this clause directly. Traceability forces private companies to turn over the names of people who shared something even if they did not create it, shared it out of concern, or sent it to check its accuracy, the company wrote.

G/O Media may get a commission

Through such an approach, innocent people could get caught up in investigations, or even go to jail, for sharing content that later becomes problematic in the eyes of a government, even if they did not mean any harm by sharing it in the first place.

Theres also the factas technologists have detailed in the pastthat its impossible to make an encrypted platform traceable without breaking that encryption, a move that will compromise the securityof WhatsApp users to potential hacks.

WhatsApps encryption has been a persistent thorn in the side of authorities in India, where the platforms been linked to the spread of persistentand harmfulmisinformation. Towards the end of 2017, rumors that circulated on the platform led to seven men being violently lynched, provoking WhatsApp to ultimately put strict limits on the way people could use the platform to forward messages. Evidently, though, this hasnt been enough for Indias law enforcement agencies, which have repeatedly tried to get the company to enable traceability over the years.

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The Indian Government Wants to Break Messaging Encryption, WhatsApp's Suing - Gizmodo

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WhatsApp challenges govt: Breaking end-to-end encryption will lead to security issues but timing of petition circumspect – Free Press Journal

The new Intermediary Guidelines (IL Guidelines), require messaging platforms that have over 50 lakh registered users (such as WhatsApp) enable the identification of the first originator of the information.

The challenge from WhatsApp is that this impinges on an individuals constitutional right to privacy and is therefore unconstitutional.

The stance of the Centre is that the right to privacy, like any other constitutional right, is not absolute but subject to reasonable restrictions.

The debate is around this proviso to Guideline 4 (2) of the IL Guidelines: Provided also that in complying with an order for identification of the first originator, no significant social media intermediary shall be required to disclose the contents of any electronic message, any other information related to the first originator, or any information related to its other users. Whatsapp argues that this cannot be technologically done without breaking end-to-end encryption. If that happens, communication can be monitored."

Encryption, traceability, privacy

Temporarily setting aside the legal arguments surrounding this, there are technological challenges around implementing methods that would enable platforms to identify the first originator of the information while also maintaining end to end encryption.

The main technical challenge here is that allowing for identification of the first originator without breaking end-to-end encryption and doing it prematurely for all (as it would not be known when a request appears) is considered nearly impossible by most tech experts.

Prof Kamakoti at IIT Madras, came up with a proposal to allow for traceability of WhatsApp messages without eroding privacy. Briefly, his proposal was:

1. Make the originators phone number visible to all recipients; or

2. Encrypt the originators phone number in the metadata of the message that can only be decrypted by WhatsApp, using a key held in escrow, after relevant court orders are produced.

However, the solutions proposed by Prof Kamakoti have been panned by tech experts across India, including a cryptography expert who is a professor at IIT Bombay. A cyber security expert Anand Venkatanarayanan has published a detailed explanation of why Prof Kamakotis proposal is erroneous and not feasible.

In the words of another cryptography expert at a recent conference, the ask to trace the first originator without breaking end-to-end encryption, is akin to the government asking to have roll down windows on airplanes.

Breaking end-to-end encryption would also lead to immense security issues for every individual. By implementing a system where messages are not secured by end-to-end encryption, we are putting ourselves at the mercy of extremely skilled hackers, who can very easily intercept and read personal messages, thus significantly intruding on an individuals right to privacy.

This also carries a significant threat to our democracy as it will allow a malicious foreign power the ability to hack and capture data of Indian citizens, including lawmakers and government officials who use the platform.

What can/will the Court do?

Ideally, the Court would have to first understand the technical feasibility of the ask, and consult with tech experts.

Given what has been stated above, the Court would then note that while the right to privacy does come with reasonable restrictions, given the current technology, the obligation within the IL guidelines cannot be carried out without a significant threat to the right to privacy.

The letter of the law states that the authorities must look for alternative, less intrusive means as Provided further that no order shall be passed in cases where other less intrusive means are effective in identifying the originator of the information. This will take care of the proportionality requirement laid down in the Puttuswamy judgement but it all boils down to the orders being specific and transparent about it. The track record has not upheld these requirements so far. Further, because end-to-end encryption would have to be broken for all users, its a disproportionate step that WhatsApp must institute even without an order, since the inception it will have to modify its service.

WhatsApps motivations

While this may or may not be a diversionary tactic by FaceBook (FB), it is more importantly, a challenge that arises out of business interests for FB, for two reasons:

If WhatsApp were to implement a system allowing for tracing of the first originator, it would mean that messages sent on WhatsApp would no longer be end-to-end encrypted. If this happens, it is very likely that most users would migrate to other platforms, such as Signal, which would have robust end-to-end encryption systems. However, once it reaches the threshold of designation as an SSMI, then there might again be a churn in the instant messaging market.

Developing a system where the first originator of a message can be traced without breaking end-to-end encryption, would require a significant monetary investment, which WhatsApp is understandably looking to avoid having to incur.

Further, the timing of the petition is quite circumspect. It comes at the heels of the end of the deadline to comply with the IL Guidelines. Further, this is also when the government is pushing WhatsApp to take back its privacy policy update for Indian users and WhatsApp has halted it.

(The writer is a founding member and executive director of IT for Change, a Bengaluru-based NGO that works at the intersection of development and digital technologies)

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WhatsApp challenges govt: Breaking end-to-end encryption will lead to security issues but timing of petition circumspect - Free Press Journal

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Klever integrates Jumio on its encrypted exchange service for user authentication – QNT

Crypto wallet platform Klever today announced a new partnership with Jumio to provide global artificial intelligence-driven and biometric authentication solutions for its upcoming Klever Exchange service.

Ready to launch soon and Now in beta testing, Klever Exchange will integrate Jumios identity solution; making KYC registration of new users simple, secure and complete within minutes.

Jumio supports more than 3,500 different ID types from more than 200 countries and regions to ensure the global coverage of Klever Exchange.

Klever Exchange is using our innovative proprietary security software architecture that we have been continuously improving in the field of encrypted wallets over the years. Based on advanced encryption technology, the exchange wallet system is very secure. With the launch of Klever Exchange, the Klever ecosystem will help us Users provide the option of custody of their cryptocurrency through the Klever application and the custody of Klever Exchange. Clever Team

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Klever integrates Jumio on its encrypted exchange service for user authentication - QNT

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