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Vinny Lingham: The Curse Of ‘Satoshi’s Choice’ – A Bitcoin Community Mired In insult And Emotion – CryptoCoinsNews

Vinny Lingham

The bitcoin scaling debate has driven many people in the bitcoin community to assume a cult-like viewpoint, an observation Vinny Lingham makes with despair. In a blog titled, Satoshis Choice, Lingham observed that the bitcoin community has failed to maintain a level attitude aimed at achieving the greater good for the community. Hence, he doesnt see a resolution to the current impasse on bitcoin scaling in the short term.

Without a reasonable resolution to the current impasse, it will be difficult to avoid exogenous pricing pressure or another external catalyst for change.

Lingham noted that the replies to his tweets have been emotive and insulting. When emotions get the upper hand and people cant communicate with decorum, they suffer from impaired judgment.

Most bitcoiners care about bitcoins price, he noted. Emotionally, they are invested in bitcoin as a digital currency and a store of value.

Lingham once believed a bitcoin price under $875 would push parties to reach an agreement. He did not expect the price to stay above $1,000 for an extended period since the incentive to go beyond this did not exist. But he was wrong about this, and market forces are affecting the price, which he believes is not necessarily a negative development in the near term.

While he believes there are pros and cons to all sides of the scaling debate, one path that Lingham says should be avoided at all costs is a contentious hard fork resulting in a minority chain.

Bitcoin is still viewed by the public at large as a negative entity, thanks to Silk Road and other misadventures. One indication is the current set of issues dealing with getting fiat in and out of bitcoin exchanges.

Satoshi made a choice, Lingham noted, to leave the bitcoin community to its own devices. He did this to give the community a gift, but one that came with a curse. The more the community loves bitcoin, the more greed emerged within the community and outside of it.

Linghams question now is: why does the community need a leader if bitcoin is a decentralized, peer-to-peer currency? The answer is that bitcoin is not yet a decentralized, peer-to-peer currency.

For bitcoin to be immune tomanipulation, it must be decentralized at every layer. The bitcoin community, however, has focused on the price, scaling and other issues to the degree that bitcoin is the most secure but least innovative cryptocurrency.

Lingham would agree that immutability gives bitcoin its strength if the immutability was by distributed choice, not by default since decisions are centralized.

But instead of decentralized mining and decentralized exchanges with hefty volumes, the community has a few exchanges at the mercy of the banking system, as well as large mining pools controlled by a few operators, manufacturing controlled by two firms, and development that is run by one group of individuals.

Where capital formation has become decentralized, bitcoin is not making progress in removing monopolies.

Also read: Vinny Lingham says bitcoin hard fork should be avoided, Buterin argues

Diversification is what leads to positive outcomes, Lingham claims.

He wants a world with multiple chip manufacturing and mining hardware providers competing for business from thousands of miners if not millions distributed worldwide. He wants to have a choice of dozens of mining pools with different bitcoin philosophies focused on the greater good butacting on their own accord.

He wants to see the market choose the best clients and BIPs, where dissenting voices find groups to join and not feel ostracized.

He wants to see each layer of decentralization working to make it more accessible to others as opposed to trying to fork bitcoin contentiously.

In the short term, people could start being more respectful of each other.

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Litecoin Value Increases by 700% As Politics Still Prevent Bitcoin From Scaling – newsBTC

A lot of people will keep an eye on the SegWit malleability fix and how it affects Litecoin.

The past few weeks have been quite remarkable for Litecoin. Although a lot of people assumed this currency to be dead in the water, that is not the case. In fact, things are heading in a very bullish direction. The Litecoin value increased by over 700%. This is due to SegWit locking in and the Coinbase listing. The futures looking bright for Bitcoins silver, that much is evident.

Litecoin has come a very long way these past few weeks. Earlier this year, one LTC was valued at US$4. That is quite a ways from its previous ATH of around US$48 in 2013. Ever since that time, a lot of people have forgotten about LTC. Things have an odd way to work itself out, though, as Litecoin is on everybodys mind right now.

The popular cryptocurrency locked in the activation of SegWit not too long ago. That in itself is quite a major boon for this popular currency. Bitcoin is trying to get SegWit activated too, yet keeps meeting opposition from miners. However, the impending activation of Segregated Witness has done wonders for the LTC price. In fact, the Litecoin value has increased by 700% so far.

That gain cannot only be attributed to the SegWit activation locking in, though. Coinbase, a very popular US-based cryptocurrency exchange, enabled Litecoin support as well. This, in turn, has given the Litecoin value another boost upward. It looks like LTC is well underway to surpass US$30 again. It is hard to tell where this will end, although a value of US$50 is not out of the question.

At the same time, one has to keep in mind Litecoin does not have the same issues bitcoin has. Litecoin never had full blocks to begin with, whereas it is very common on the Bitcoin network. There is also a lack of demand when it comes to Litecoin, especially from a merchant and consumer point of view. These are all issues that can be addressed quickly, though. However, the question becomes whether or not the Litecoin value can maintain this trend in the long run.

In the end, a lot of people still look at Litecoin as a Bitcoin testbed. Any development changes failing to gain traction can be ported to Litecoin to see how well they do. A lot of people will keep an eye on the SegWit malleability fix and how it affects Litecoin. These are still exciting times to be involved in altcoins, though. Anyone holding LTC may see the Litecoin value increase a bit further these coming weeks.

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Cryptocurrency Users in Panama Can Now Trade Dash via …

Dash, the privacy-focused cryptocurrency,is now live on Panamanian broker and cryptocurrency wallet Coinapult, allowing usersto tradeit against twenty national currencies. Furthermore, Coinapults partnership with Crypto Capital, holders of an international money transmitter license, provides a bridge for regulated crypto to fiat conversion.

The London Summit 2017 is coming, get involved!

Dash VP of Business Development Daniel Diaz said: We have been interested in Coinapult and Crypto Capital for a long time, and were just waiting for the right time. This integration is massive for current and future Dash users because they really solve the question on how to buy and sell Dash in an easy and safe way using fiat. You get a digital currency on/off ramp that is directly connected with a fully functioning money-transmitting platform similar to online banking.

You get your own segregated account with Crypto Capital, which is fully integrated with Coinapult, and you wire funds from your current bank to your Crypto Capital account. Rather than wiring funds to a third-party exchange directly, you are in control of all the accounts involved in the wire transfer process. With less risk and less friction holding and storing value on Dash becomes safer if you add to this the fact that Dash has fast and inexpensive transactions, you get a great overall user experience.

CEO of Coinapult, Gabe Sukenik, said: Giving the Dash economy access to Crypto Capital via Coinapult could be a significant step forward for the liquidity of Dash for bank-settled fiat currency. Even in the midst of significant banking difficulties for bitcoin companies broadly, Crypto Capital has continued to service individuals and businesses that need access to bitcoin-friendly international wire settlement. Dash users now can directly buy or sell Dash in fiat, using Crypto Capital and Coinapult.

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Three Million Active Cryptocurrency Users Says Cambridge Center for Alternative Finance – newsBTC

A study conducted by the University of Cambridge has concluded the size of cryptocurrency community to be around 3 million. Read more...

A recent study conducted by the Cambridge Center for Alternative Finance has set the number of active cryptocurrency users across the world at 3 million. It includes people who use either one or more cryptocurrencies that are currently available in the market.

A resulting report from the recently conducted Global Cryptocurrency Benchmarking Study includes data collected from over 100 cryptocurrency companies spread across 38 nations, which makes up for about 75 percent of the crypto-industry. With the help of this data, the organization has presented the statistics regarding the size of cryptocurrency community for the first time since Bitcoins inception in 2009.

Until now, the widely used conservative estimates considered the communitys size to be of about 1 million, with over 35 million operational wallets distributed among themselves. The systematic study has divided the industry into four distinct sectors which include exchange platforms, wallets, payments, and mining. All these sectors are important for the functioning of a well-defined cryptocurrency ecosystem.

Cryptocurrencies such as bitcoin have been seen by some as merely a passing fad or insignificant, but that view is increasingly at odds with the data we are observing,

says Dr. Garrick Hileman, Research Fellow at the Cambridge Centre for Alternative Finance

During their study, the Cambridge Center for Alternative Finance has found that the market share of Bitcoin is steadily declining due to the proliferation of other altcoins. In the past two years alone, Bitcoins market capitalization has reduced from 86 percent to 72 percent of the cryptocurrency industrys total market capitalization.

In terms of regulatory compliance among various market players, about 52 percent of small exchange platforms were found to have government issued licenses as against 35 percent of larger platforms. The number of cryptocurrency wallet services that also serve as exchange platforms has increased to 52 percent.

In the report, it is quite evident that there is a lot to be desired when it comes to cryptocurrency transactions between businesses. The average size of B2B transactions is found to be about $1878, which is a very small amount when compared to those in P2P and C2B segment.

The cryptocurrency mining industry has grown huge in the recent days. The use of powerful mining hardware combined with increasing cryptocurrency prices has seen miners earning as much as $2 billion in mining revenues since 2009. As expected, China leads the pack with the highest number of mining facilities. The cryptocurrency mining sector currently has 1800 people employed in a full-time capacity as the total value of the cryptocurrencies crosses $40 billion.

These numbers stated in the report are expected to go up in the coming days as more countries consider legalizing the cryptocurrency. Increasing demand for cryptocurrencies due to various geopolitical factors and growing community size will see its value increase further, eventually crossing the total value of gold which is estimated to be around $7 trillion.

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Tim Draper to Back Tezos Cryptocurrency ICO – newsBTC

Renowned investor, Tim Draper will participate in an ICO for the first time, setting an example for other angel and VC investors. Read more...

Tim Draper, a well-known name in the Silicon Valley investor circles, has announced his plans to take part in an initial coin offering (ICO) for the first time. By doing so, Draper will not be deviating from the conventional investment practices followed by many investors while putting their money into a business. The upcoming ICO that got Draper interested is for a blockchain platform called Tezos.

Cryptocurrency technology and its applications are catching everyones attention in the recent days. The number of currently available blockchain platforms and the involvement of almost all the leading names in financial and technology sectors has played a significant role in encouraging people from mainstream technology and business segments to start investing in crypto-sector. Some of the mainstream tech investors like Tim Draper and a shift in their investing habits are sure signs of the changing times, influenced by Bitcoin and its counterparts.

Tim Draper has been one of the active supporters of Bitcoin and cryptocurrency technology based ventures. He became well-known in the cryptocurrency community after buying over 30,000 bitcoins that belonged to Silk Road during the US Marshal Services auction.

The new Tezos blockchain platform is being created by Dynamic Ledger Solutions Inc., run by a husband and wife team. They are putting their extensive Wall Street and hedge fund experience from working in companies like Goldman Sachs and Bridgewater Associates to develop the blockchain solution. According to reports, in addition to his participation in the Tezos ICO, Tim Draper will be investing in the platforms parent company, created by Arthur and Kathleen Breitman.

Draper rightly believes that by participating in the ICO, he will be setting an example for rest of the investor community to follow the new age of fundraising. These ICOs, also known as crowdsales are increasingly being used by the cryptocurrency platforms as a form of crowd fundraising where any interested party can buy the tokens in return for the investment made into the platform and reap benefits from its success. Drapers participation in the ICO will not only encourage others to take part in it, but it will also increase the chances of successful completion of many crowdsales. Investors can also diversify their risk, keeping it to a minimum while having the tokens as collateral.

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BOScoin – A Promising Self Evolving Cryptocurrency Framework … – Live Bitcoin News

BOSCoin is a self evolving decentralized cryptocurrency that is centered upon a special form of smart contracts, referred to as trust contracts, along with a system for decision making known as the Congress Network. Trust contracts represent forms of secure smart contracts that are based on a protocol layer known as Owlchain, which is comprised of Web Ontology Language and Time Automate Language. Trust contracts aims at addressing the issues of non-decidable smart contracts via means of a more comprehensible programming approach which promotes decidable and secure contracts transactions. The Congress Network represents the decision making system which mitigates issues of governance that usually arise in decentralized organizations. Via an automated and clearly defined governance framework, the creators of BOScoin aim to continuously develop the protocol and the community into a more anti-fragile platform.

Yesterday, the creators of BOScoin announced that the ICO will start on May 10, 2017. The ICO is expected to last for 41 days; throughout which, 276,093,688.786coins are to be sold.

When the ICO starts, participants will be able to buy 40,000 BOScoins for 1 bitcoin. The BOS platform aims at raising at least $10 million via this ICO. In November, 2016, the creators of the coin managed to raise $3 million USD via their Pre-ICO.

BOScoin is formulated to build a self evolving cryptocurrency network. Considering the recent technological advancements in various arenas including quantum computing, artificial intelligence and genetic engineering, it is almost impossible to predict how cryptocurrencies will end up to be in 5 years time. BOScoin is designed to build a cryptocurrency that can be adaptable within every environment.

In most cases, cryptocurrencies turn into speculative tools with rather limited actual applications. However, this wont be the case of BOScoin, as the BOS platform will launch two apps; Stardaq and Delicracy, which will use BOScoin as their main currency, serve as routes for distributing free BOScoins, help grow the BOS platform via attracting new users and offer developers a new platform for creating apps.

Stardaq is expected to be a prediction market for the popularity of international celebrities. An index is used to represent a celebritys popularity and participants can bet on whether or not a celebritys popularity will rise. Users can only place bets via BOScoins.

Delicracy represents a collective tool for decision making that can be utilized by any organization. All participants can get involved in the process of decision making via betting on a group of proposals, similarly to Augurs prediction market. The proposal that receives the highest bets will be passed.

BOScoin is based on the proof-of-stake (PoS) algorithm, so no mining takes place. So, if you run a node, you will receive incentives in the form of freezing and confirmation rewards. Also, the coins board are giving away free coins to participants. Visit BOScoins Bitcointalk.org thread for more details.

In my opinion, BOScoins is a very promising coin, so if you have a PC lying around, use it to set up a node to earn some BOScoins, whose price will mostly rise within the next 1-2 years.

For more details about BOScoin, you can read the white paper via visiting this link. .

Image from BOScoins official website

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CME Explores Cryptocurrency Derivatives Contracts in Patent Filing – CoinDesk

Derivatives giant CME has developed a system for delivering digital currencies tied to derivative contracts, patent documents show.

The US Patent and Trademark Office (USPTO) published CME's application on 4th May, entitled "System for Physically Delivering Virtual Currencies". At its heart, the concept envisions delivering cryptocurrency holdings tied to a particular contract without the clearing party actually taking possession.

The firm is already known to be looking, at least conceptually, at the idea of derivatives contracts for bitcoin miners. As previously reported by CoinDesk, the proposed derivatives would enable miners to more effectively hedge against the ever-increasing difficulty of mining (the energy-intensive process by which new transactions are added to the blockchain), as well as the declining value of their mining hardware.

The new application indicates that CME is looking at additional products tied to the tech, with the firm explaining:

"A clearing counter-party could facilitate physical delivery of virtual currency contracts by instructing the sellers of expiring contracts to transfer the virtual currencies directly to the clearing counter-party, and the clearing counter-party would then transfer the virtual currencies to the buyers."

That CME would be looking into this area is perhaps unsurprising. Last November, it launched a pair ofbitcoin price benchmarks, which would ostensibly serve as part of the infrastructure for any products it may facilitate.

Whats more, the firm'sexecutives have previouslydiscussed the prospects of financial products around digitized assets.

"In fact, some of the most exciting areas to explore are at the intersection of digital assets and tokenized fiat and tokenized commodities, CME executive director and digitization lead Sandra Ro said during an event last November.

Ro is one of three inventors listed on the patent application, along with digitization director and technology architect Ryan Pierce, and Mansoor Ahmed, who serves as director of clearing for the firm.

CME image via Shutterstock

Disclosure: CME Group is an investor in Digital Currency Group, of which CoinDesk is a subsidiary.

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UK government is secretly planning to break encryption and spy on people’s phones, reveals leaked document – The Independent

Designed by Pierpaolo Lazzarini from Italian company Jet Capsule. The I.F.O. is fuelled by eight electric engines, which is able to push the flying object to an estimated top speed of about 120mph.

Jet Capsule/Cover Images

A humanoid robot gestures during a demo at a stall in the Indian Machine Tools Expo, IMTEX/Tooltech 2017 held in Bangalore

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A humanoid robot gestures during a demo at a stall in the Indian Machine Tools Expo, IMTEX/Tooltech 2017 held in Bangalore

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Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea

Jung Yeon-Je/AFP/Getty Images

Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea

Jung Yeon-Je/AFP/Getty Images

The giant human-like robot bears a striking resemblance to the military robots starring in the movie 'Avatar' and is claimed as a world first by its creators from a South Korean robotic company

Jung Yeon-Je/AFP/Getty Images

Engineers test a four-metre-tall humanoid manned robot dubbed Method-2 in a lab of the Hankook Mirae Technology in Gunpo, south of Seoul, South Korea

Jung Yeon-Je/AFP/Getty Images

Waseda University's saxophonist robot WAS-5, developed by professor Atsuo Takanishi

Rex

Waseda University's saxophonist robot WAS-5, developed by professor Atsuo Takanishi and Kaptain Rock playing one string light saber guitar perform jam session

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A test line of a new energy suspension railway resembling the giant panda is seen in Chengdu, Sichuan Province, China

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A test line of a new energy suspension railway, resembling a giant panda, is seen in Chengdu, Sichuan Province, China

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A concept car by Trumpchi from GAC Group is shown at the International Automobile Exhibition in Guangzhou, China

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A Mirai fuel cell vehicle by Toyota is displayed at the International Automobile Exhibition in Guangzhou, China

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A visitor tries a Nissan VR experience at the International Automobile Exhibition in Guangzhou, China

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A man looks at an exhibit entitled 'Mimus' a giant industrial robot which has been reprogrammed to interact with humans during a photocall at the new Design Museum in South Kensington, London

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A new Israeli Da-Vinci unmanned aerial vehicle manufactured by Elbit Systems is displayed during the 4th International conference on Home Land Security and Cyber in the Israeli coastal city of Tel Aviv

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Electrification Guru Dr. Wolfgang Ziebart talks about the electric Jaguar I-PACE concept SUV before it was unveiled before the Los Angeles Auto Show in Los Angeles, California, U.S

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The Jaguar I-PACE Concept car is the start of a new era for Jaguar. This is a production preview of the Jaguar I-PACE, which will be revealed next year and on the road in 2018

AP

Japan's On-Art Corp's CEO Kazuya Kanemaru poses with his company's eight metre tall dinosaur-shaped mechanical suit robot 'TRX03' and other robots during a demonstration in Tokyo, Japan

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Japan's On-Art Corp's eight metre tall dinosaur-shaped mechanical suit robot 'TRX03'

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Japan's On-Art Corp's eight metre tall dinosaur-shaped mechanical suit robot 'TRX03' performs during its unveiling in Tokyo, Japan

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Singulato Motors co-founder and CEO Shen Haiyin poses in his company's concept car Tigercar P0 at a workshop in Beijing, China

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The interior of Singulato Motors' concept car Tigercar P0 at a workshop in Beijing, China

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Singulato Motors' concept car Tigercar P0

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A picture shows Singulato Motors' concept car Tigercar P0 at a workshop in Beijing, China

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Connected company president Shigeki Tomoyama addresses a press briefing as he elaborates on Toyota's "connected strategy" in Tokyo. The Connected company is a part of seven Toyota in-house companies that was created in April 2016

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A Toyota Motors employee demonstrates a smartphone app with the company's pocket plug-in hybrid (PHV) service on the cockpit of the latest Prius hybrid vehicle during Toyota's "connected strategy" press briefing in Tokyo

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A robot with a touch-screen information apps stroll down the pavillon at the Singapore International Robo Expo

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An exhibitor demonstrates the AnyWalker, an ultra-mobile chasis robot which is able to move in any kind of environment during Singapore International Robo Expo

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Robotic fishes swim in a water glass tank displayed at the Korea pavillon during Singapore International Robo Expo

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An employee shows a Samsung Electronics' Gear S3 Classic during Korea Electronics Show 2016 in Seoul, South Korea

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Visitors experience Samsung Electronics' Gear VR during the Korea Electronics Grand Fair at an exhibition hall in Seoul, South Korea

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PA wire

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Full-scale model of 'Kibo' on display at the Space Dome exhibition hall of the Japan Aerospace Exploration Agency (JAXA) Tsukuba Space Center, in Tsukuba, north-east of Tokyo, Japan

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Miniatures on display at the Space Dome exhibition hall of the Japan Aerospace Exploration Agency (JAXA) Tsukuba Space Center, in Tsukuba, north-east of Tokyo, Japan. In its facilities, JAXA develop satellites and analyse their observation data, train astronauts for utilization in the Japanese Experiment Module 'Kibo' of the International Space Station (ISS) and develop launch vehicles

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The robot developed by Seed Solutions sings and dances to the music during the Japan Robot Week 2016 at Tokyo Big Sight. At this biennial event, the participating companies exhibit their latest service robotic technologies and components

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The robot developed by Seed Solutions sings and dances to music during the Japan Robot Week 2016 at Tokyo Big Sight

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Government and industry are working together on a robot-like autopilot system that could eliminate the need for a second human pilot in the cockpit

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Aurora Flight Sciences' technicians work on an Aircrew Labor In-Cockpit Automantion System (ALIAS) device in the firm's Centaur aircraft at Manassas Airport in Manassas, Va.

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Stefan Schwart and Udo Klingenberg preparing a self-built flight simulator to land at Hong Kong airport, from Rostock, Germany

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Encryption: Securing Sensitive Data in Changing Corporate Environments – eSecurity Planet

As corporate data moves beyond the firewall and into the cloud and Internet of Things, encryption becomes more important than ever. We cover everything from encryption basics to solutions.

Data security has traditionally been seen as a matter of locking down data in a physical location, such as a data center. But as data migrates across networks, borders, mobile devices, and into the cloud and Internet of Things (IoT), focusing solely on the physical location of data is no longer relevant.

To prevent disclosure of sensitive corporate data to unauthorized people in this new corporate environment, data needs to be secured. Encryption and data masking are two primary ways for securing sensitive data, either at rest or in motion, in the enterprise. It is an important part of endpoint security.

Encryption is the process of encoding data in such a way that only authorized parties can access it. Using homomorphic encryption, sensitive data in plaintext is encrypted using an encryption algorithm, generating ciphertext that can only be read if decrypted.

In data masking, fake data replaces real data for users who should not have access to the real data, whether because of their role in the company or because they are attackers. Masking ensures sensitive data is obscured or otherwise de-identified.

Dynamic data masking can transform the data based on the user roles and privileges. It is used to secure real-time transactional systems and improve data privacy, compliance implementation, and maintenance.

With data masking, data is retained in its native form, and no decryption key is necessary. The resulting data set does not contain any references to the original information, making it useless for attackers.

Encryption scrambles data using nonreadable mathematical calculations and algorithms. An encryption system employs an encryption key generated by an algorithm. While it is possible to decrypt the data without possessing the key, significant computational resources and skills would be required if the encryption system is designed properly. An authorized recipient can easily decrypt the message with the key provided by the originator.

If the encryption key is lost or damaged, it may not be possible to recover the encrypted data from the computer. Therefore, enterprises need to set up rigorous key management processes, procedures, and technologies before implementing data encryption technologies.

Organizations should consider how key management practices can support the recovery of encrypted data if a key is lost or destroyed. Those planning on encrypting removable media need to consider how changing keys will impact access to encrypted storage on removable media, such as USB drives, and develop solutions, such as retaining the previous keys in case they are needed.

Encryption can be applied to endpoint drives, servers, email, databases, and files. The appropriate encryption depends upon the type of storage, the amount of data that needs to be protected, environments where the storage will be located, and the threats that need to be stopped.

Public key encryption is one use of public key cryptography, also known as asymmetric cryptography. Digital signature, in which a message is signed with the senders private key and can be verified by anyone who has access to the senders public key, is another well-known use of public key cryptography.

There are three primary types of encryption solutions: full disk encryption, volume/virtual disk encryption, and file/folder encryption. When selecting encryption types, enterprises should consider the range of solutions that meet their security requirements, not just the type that is most commonly used.

The top features that enterprises should consider when choosing an encryption system include centralized policy management, application and database transparency, low latency, key management interoperability, support for hardware-based cryptographic acceleration, support for compliance regulations, and monitoring capabilities.

There are many factors to consider when selecting storage encryption solutions, such as the platforms they support, the data they protect, and the threats they block. Some involve installing servers and software on the devices to be protected, while others can use existing servers, as well as software built into devices operating systems.

Unfortunately, encryption can result in loss of functionality or other issues, depending on how extensive the changes are to the infrastructure and devices. When evaluating solutions, enterprises should compare the loss of functionality with the gain in security capabilities and decide if the tradeoff is worth it. Solutions that require extensive changes to the infrastructure and end user devices should generally be used only when other options cannot meet the enterprises security needs.

An encryption protocol is a series of steps and message exchanges designed to achieve a specific security objective.

To ensure compatibility and functionality, enterprises should use standard-conforming encryption protocols such as Internet Protocol Security (IPSec), Secure Socket Layer (SSL), Transport Layer Security (TLS), Secure Shell (SSH), Secure/Multipurpose Internet Mail Extensions (S/MIME), and Kerberos. Each has advantages and disadvantages. Some overlap in functionality, but each tends to be used in different areas.

IPSec provides encryption at the IP packet level and requires low-level support from the operating system and a configured server. Since IPSec can be used as a tunnel to secure packets belonging to multiple users and hosts, it is useful for building virtual private networks and connecting remote machines. The next-generation Internet Protocol, IPv6, comes with IPSec built in, but IPSec also works with IPv4.

SSL and TLS work over the Transmission Control Protocol (TCP) and link up with other protocols using TCP, adding encryption, server authentication, and authentication of the client. TLS is an upgrade to SSL that strengthens security and improves flexibility. SSL and TLS are the primary method for securing Web transactions, such as the use of https instead of http in URLs. A widely used open-source implementation of SSL is OpenSSL.

S/MIME is a standard for public key encryption and signing MIME data. With S/MIME, administrators have an e-mail option that is more secure than the previously used Simple Mail Transfer Protocol (SMTP). S/MIME brings SMTP to the next level, allowing widespread e-mail connectivity without compromising security.

SSH is the primary method of securing remote terminals over the internet and for tunneling Windows sessions. SSH has been extended to support single sign-on and general secure tunneling for TCP streams, so it is often used for securing other data streams. The most popular implementation of SSH is the open-source OpenSSH. Typical uses of SSH allows the client to authenticate the server, and then the user enters a password to authenticate the user. The password is encrypted and sent to the other system for verification. To prevent man-in-the-middle attacks, in which communication between two users is monitored and modified by an unauthorized third party, SSH records keying information about servers with which it communicates.

Kerberos is a protocol for single sign-on and user authentication against a central authentication and key distribution server. Kerberos works by giving authenticated users tickets, granting them access to various services on the network. When clients then contact servers, the servers can verify the tickets. Kerberos is a primary method for securing and supporting authentication on a local area network. To use Kerberos, both the client and server have to include code since not everyone has a Kerberos setup, complicating the use of Kerberos in some programs.

Most of the major security firms provide data encryption software for the enterprise. Here is a sampling of available enterprise data encryption software, which includes full disk encryption (for more in-depth discussions of vendors who provide full disk encryption, see eSecurity Planets articles 7 Full Disk Encryption Solutions to Check out and Full Disk Encryption Buyers Guide):

Check Point Full Disk Encryption Software Blade provides automatic security for data on endpoint hard drives, including user data, operating system files, and temporary and erased files. Multifactor pre-boot authentication ensures user identity, while encryption prevents data loss from theft.

Dell Data Protection Encryption Enterprise enables IT to enforce encryption policies, whether the data resides on the system drive or external media. Designed for mixed vendor environments, it also will not interfere with existing IT processes for patch management and authentication.

HPE SecureData Enterprise uses both encryption and data masking to secure corporate data. HPE SecureData de-identifies data, rendering it useless to attackers, while maintaining usability and referential integrity for data processes, applications, and services. It uses Hyper Format-Preserving Encryption, a high-performance format-preserving encryption.

IBM Guardium Data Encryption provides encryption capabilities to help enterprises safeguard on-premises structured and unstructured data and comply with industry and regulatory requirements. This software performs encryption and decryption operations with minimal performance impact and requires no changes to databases, applications, or networks.

McAfee (Intel Security) Complete Data Protection provides its own encryption tools and supports Apple OS X and Microsoft Windows-native encryption, system encryption drives, removable media, file shares, and cloud data. It also integrates with McAfees other enterprise security tools, such as data loss prevention.

Microsoft BitLocker Drive Encryption provides encryption for Windows operating systems only and is intended to increase the security surrounding computer drives. Having BitLocker integrated with the operating system addresses the threats of data theft or exposure from lost, stolen, or inappropriately decommissioned computers.

Sophos SafeGuard Encryption is always on, allowing for secure collaboration. Synchronized encryption protects data by continuously validating the user, application, and security integrity of a device before allowing access to encrypted data.

Symantec Endpoint Encryption provides endpoint encryption and removable media encryption with centralized management, as well as email, file share, and command-line tools. It also integrates with the companys data loss prevention technology.

Trend Micro Endpoint Encryption provides full disk encryption, folder and file encryption, and removable media encryption. It can also manage Microsoft BitLocker and Apple FileVault.

WinMagic SecureDoc Enterprise Server (SES) offers enterprises control over their data security environment, ensuring security and transparency in regular workflow. With full disk encryption and PBConnex technology, SES enables customers to streamline their IT processes.

In addition to these data encryption software solutions, enterprises could benefit from employing other encryption tools. An eSecurity Planet slideshow advises IT pros to build a portfolio of encryption tools to leverage each ones strengths. And for the DIY crowd, VeraCrypt offers an open source encryption option.

eSecurity Planet offers six tips for stronger encryption:

do not use old encryption ciphers

use longer encryption keys

encrypt in layers

store encryption keys securely

ensure that encryption implementation is done properly

consider external factors, such as digital signature compromise.

Increasingly, enterprises are adopting cloud computing and deploying Internet of Things (IoT) devices to improve efficiencies and reduce costs. However, these technologies can pose additional risks to corporate data.

Encryption could help secure the data, but not many enterprises are opting for that solution. For example, only one-third of sensitive corporate data stored in cloud apps is encrypted, according to a survey of more than 3,400 IT and IT security pros by the Ponemon Institute and Gemalto.

At the same time, close to three-quarters of respondents believe that cloud-based apps and services are important to their companys operations, and an overwhelming 81 percent expect the cloud to become more important in the near future.

Data encryption can be more challenging in the cloud because data may be spread over different geographic locations, and data is not on storage devices dedicated solely to an individual enterprise. One option is to require the cloud service provider to offer data encryption as part of a service level agreement.

Also, enterprises are increasingly using IoT devices, but few of them have security built in. One option to improve security is to encrypt the data that is transferred by IoT devices, particularly those that connect wirelessly to the network.

In sum, data encryption can be used to secure data at rest and in motion in the traditional enterprise environment, as well as the emerging environments of cloud computing and IoT deployments.

See more here:
Encryption: Securing Sensitive Data in Changing Corporate Environments - eSecurity Planet

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News in brief: UHD Blu-ray encryption ‘cracked’; WhatsApp falls over; Gmail boosts phish protection – Naked Security

Your daily round-up of some of the other stories in the news

Encrypted copy protection on UHD Blu-rays have apparently been cracked for the first time and the content has appeared online but dont get too excited, as the disc thats been cracked isnt a hot Hollywood blockbuster. Its The Smurfs 2.

UHD Blu-rays are protected by AACS 2.0 encryption, which was developed and is used by IBM, Intel, Microsoft, Panasonic, Sony, Toshiba, Walt Disney and Warner Bros to protect their content, and has generally been described as impossible to crack.

Does this mean the torrent sites will soon be packed with ultra high-definition content? Not so fast: apparently the file size on the cracked version of The Smurfs 2.0 is a meaty 53GB, and the version of the film you get if you go poking about those dodgy corners of the web has some issues, including problems with the colour. Oh, and if you do go looking for it which of course we wouldnt recommend there are very few seeders, so it would take a long time to download.

Theres no documentation of how the encryption was broken, so wed also advise holding fire before accepting the claim that it has indeed been cracked.

WhatsApps billion-plus users couldnt use the encrypted messaging platform for several hourson Wednesday, with the peak of the problems hitting between 20:00GMT and 22:00GMT yesterday, according to data from service-monitoring websites including outage.report.

Users reported that they couldnt send or receive messages as WhatsApp, which is owned by Facebook, scrambled to fix the problem.

There was some speculation that the outage was due to a cyberattack, but by Thursday afternoon no evidence had surfaced to confirm that. WhatsApp itself didnt have anything to say about the cause of the outage, confining itself to apologising, but Dave Anderson at Dynatrace told the BBC he reckoned the outage was down to an update that went wrong.

Said Anderson: WhatsApp send a new version of the app to the stores every few days and theyre likely to be pushing code changes every hour to get ready for that. It only takes one line of code and the app will fail.

Hard on the heels of what seemed to be an extensive phishing attack masquerading as a Google Doc, Google has pushed out a new security feature for Gmail that aims to protect Android users from clicking on dodgy links designed to steal your details.

Writing on the G Suite Updates blog, Google explained that the feature will roll out shortly in the Android email app.

Once its arrived, if you click on a suspicious link, youll be shown a warning saying: The site you are trying to visit has been identified as a forgery, intended to trick you into disclosing financial, personal or other sensitive information.

Of course, you shouldnt drop your guard and expect a warning to keep you safe: youll have to remain vigilant and keep an eye out for those dodgy emails. Heres just one of our guides on how to keep yourself safe from the phishermen (and women).

Catch up with all of todays stories on Naked Security

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News in brief: UHD Blu-ray encryption 'cracked'; WhatsApp falls over; Gmail boosts phish protection - Naked Security

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