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bitcoin

 What does permissionless network or protocol mean? 💭

A permissionless protocol, in the context of #blockchain and #cryptocurrencies, is a type of decentralized network protocol that allows anyone to participate without needing to seek permission from a central authority or comply with a set of predefined requirements.
In a permissionless blockchain, anyone can do the following👇

🤝Join and participate in the network: They can download the protocol, verify transactions, and create new blocks if it's a Proof of Work (PoW) or Proof of Stake (PoS) system.

 📑Execute smart contracts: In networks that support smart contracts, like #Ethereum, anyone can deploy and interact with them.

 🔁Transact with others: Anyone can send and receive tokens or interact with the #blockchain in other ways.
There's no central authority to block transactions or blacklist addresses. #Bitcoin and #Ethereum are examples of permissionless blockchains.
The opposite of a permissionless #blockchain is a permissioned blockchain, where participation requires invitation or validation from a controlling party. These are typically used in private, enterprise, or consortium contexts.


What does permissionless network or protocol mean?

Bitcoin Core version 25.0 has been released, bringing new features, bug fixes and performance improvements to the software. Users can download the latest version from the official Bitcoin Core website or update their existing installations. The release notes outline the changes and provide instructions on how to upgrade.

One notable change is the allowance of transactions of non-witness size 65 bytes and above, which opens up new use cases and enhances protections against vulnerabilities like CVE-2017-12842. Another addition is the scanblocks RPC, which allows for fast wallet rescans by returning relevant blockhashes from a set of descriptors.

In terms of RPC updates, all JSON-RPC methods now accept a new named parameter called "args" for passing positional parameter values conveniently. Additionally, the verifychain RPC will now return false if checks couldn't be completed at the desired depth and level, providing more accurate feedback.

The release also includes changes to the build system, updated settings and new features. For instance, the shutdownnotify option allows users to specify a command to execute before Bitcoin Core begins its shutdown sequence. In the wallet section, new options like minconf and maxconf have been added to various RPCs, providing greater control over UTXO confirmations.

Bitcoin Core 25.0 introduces several improvements and optimizations, enhancing the user experience and security of the software. As with any release, users are encouraged to report any bugs they encounter to the official GitHub issue tracker.

Bitcoin Core is widely supported and tested on major operating systems such as Linux, macOS, and Windows. However, it is not recommended to use Bitcoin Core on unsupported systems. Users should ensure they are running a compatible operating system before upgrading to the latest version. In addition, users are encouraged to review the release notes for a detailed understanding of the improvements in this version if upgrading.

BITCOIN CORE VERSION 25.0 RELEASED


The Ordinals protocol has taken the Bitcoin world by storm. Quickly amassing over 9,000,000 inscriptions, the new protocol allows for arbitrary data to be embedded on the Bitcoin blockchain. In addition to attracting attention from the NFT industry, Ordinals have led to a major increase in the fees required to send bitcoin, eliciting new debate on how Bitcoin should deal with high fee environments. 

In a recent interview with Bitcoin Magazine, Farokh, founder of the Rug Radio platform and a well-known collector within the NFT industry, shared insights into the world of Bitcoin NFTs and his vision for the Bitcoin inscription market’s future. Reflecting on his own Bitcoin and NFT journey, Farokh acknowledged the initial confusion surrounding Bitcoin in 2012, given the lack of development and user-friendly platforms at the time. However, he highlighted the rapid growth and development of NFT platforms in 2021, and how that is reflected now in the context of Bitcoin NFTs’ sudden rise in popularity.

When discussing the advantages of Ordinals, Farokh emphasized the security aspect of storing art on the Bitcoin blockchain, stating, "Ordinals now enable art to be stored on the most secure blockchain in the world, without keeping this data in external databases where it can be vulnerable to manipulation." He identified this as the biggest benefit of Ordinals over NFTs on other, less secure blockchains, recognizing the need for censorship-resistant and immutable storage solutions.

Regarding the future of Bitcoin NFTs, Farokh expressed his optimism. He also acknowledged the current challenges, such as high costs and the need for infrastructure development, but believed that with the continuous growth of the Bitcoin ecosystem, improved solutions would emerge.

Farokh also discussed the entry of luxury brands into the Bitcoin NFT space, mentioning the collaboration between Aspire and Bugatti. He expressed his curiosity about high-end brands embracing ordinals and leveraging the security and authenticity provided by the Bitcoin blockchain.

When asked about the reaction of projects transitioning to Bitcoin NFTs, Farokh noted the generally positive response. He drew parallels to the early days of NFTs, where skepticism was common but ultimately proven wrong. He also highlighted the positive reception of projects like Yuga Labs’ TwelveFold, indicating that the acceptance of Bitcoin NFTs was gradually gaining momentum.

Looking ahead, Farokh envisioned a mature Bitcoin NFT market with user-friendly platforms accessible to retail users. He remarked, "Look how much the [NFT] marketplace has evolved... at first, it was complicated to make a wallet. Now we have proper marketplaces." Farokh's optimistic outlook suggested a future where the Bitcoin NFT market becomes more mainstream and user-friendly, ultimately driving further adoption.

Overall, Farokh's interview shed light on the growing importance of Bitcoin NFTs, their unique advantages and the evolving landscape of the Ordinals protocol. 



ORDINALS IS BRINGING THE NFT INDUSTRY TO BITCOIN

nostr

What is a phishing attack? 🎣

A phishing attack is a type of cyber attack where the attacker poses as a trustworthy entity to trick individuals into disclosing sensitive information such as usernames, passwords, credit card numbers, or other sensitive data.
✉️Email Phishing: This is the most common type of phishing scam.
In this type of attack, attackers send fraudulent emails appearing to be from a reputable source (like a bank, internet provider, or reputable company) to induce individuals to reveal personal information.
These emails often include a link to a fake website where you're asked to enter your personal data.
🎯Spear Phishing: This is a more targeted form of phishing. In spear phishing, the attackers personalize their emails to target specific individuals, businesses, or organizations.
 This approach requires more effort on the part of the attacker but can be more successful due to its personalized nature.
📱Smishing and Vishing: These terms refer to phishing attacks carried out over SMS (text messages) and voice calls, respectively. In these types of attacks, the fraudster attempts to trick the individual into giving their private data over the phone or via text.
🚜Pharming: This type of phishing attack involves malicious code being installed on a user's computer or server, misdirecting users to fraudulent websites without their knowledge or consent.
Phishing attacks rely heavily on social engineering techniques, aiming to exploit human error and trick people into breaking standard security practices.
To protect yourself, always be skeptical of unsolicited communication and never provide personal information in response to an email, phone call, or text message. Always verify the source before clicking any links or downloading attachments.