Cryptanalysis of Curl-P and Other Attacks on the IOTA Cryptocurrency
DCI Mentioned in BBC's 'Should Google, Amazon and Facebook fear this woman?'
By Ethan Heilman (Boston Uni), Neha Narula (MIT Media Lab), Garrett Tanzer (Harvard), James Lovejoy (MIT Media Lab), Michael Colavita (Harvard), Madars Virza (MIT Media Lab), and Tadge Dryja (MIT Media Lab)
We present attacks on the cryptography formerly used in the IOTA blockchain, including under certain conditions the ability to forge signatures. We developed practical attacks on IOTA’s cryptographic hash function Curl-P-27, allowing us to quickly generate short colliding messages. These collisions work even for messages of the same length. Exploiting these weaknesses in Curl-P-27, we broke the EU-CMA security of the former IOTA Signature Scheme (ISS). Finally, we show that in a chosen-message setting we could forge signatures and multi-signatures of valid spending transactions (called bundles in IOTA).
MIT Technology Review and MIT Media Lab Digital Currency Initiative Announce 2019 Business of Blockchain Conference on May 2
US presidential hopeful Elizabeth Warren says she'd consider dismantling the tech giants should she ever get the top job. But is this really necessary or even possible?
Read full article here
DCI's Director interviewed for Fortune's latest article: 'Zcash Discloses Vulnerability That Could Have Allowed 'Infinite Counterfeit' Cryptocurrency'
Today, MIT Technology Review announced the third annual Business of Blockchain event, which will take place on May 2, 2019 at the MIT Media Lab. The event is held in collaboration with the Digital Currency Initiative, an MIT Media Lab research group focusing on cryptocurrencies and their underlying technology, and brings together industry leaders and pioneers in this emerging field to examine the technology, ethics, and impact of blockchains.
Read the Article here
"DCI Working Groups: the blockchain sandbox at MIT" On Medium by DCI's Alin Dragos
On March 1 of last year, Ariel Gabizon was tidying up a presentation he was preparing to deliver the following day at a financial cryptography conference on the Caribbean island of Curaçao when he spotted a seemingly small mathematical mistake that could, he realized, jeopardize billions of dollars in capital.
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Coin Rivet's 'Single Lightning Network node routes record number of Satoshis in a day'
Our MIT motto, mens et manus, is a call-to-action to be more than mere technologists and to learn (by doing!) how to be thoughtful makers of a better world. The Digital Currency Initiative (DCI) Working Group Program creates a sandbox for interdisciplinary teams of students to hack on pressing topics in cryptocurrency and blockchain technology. Students from the Blockchain Lab will collaborate with instructors, companies and DCI to investigate uses of blockchain technology and how to integrate it into viable business models.
Read the full post on Medium
Coindesk's 'This Scaling Tech Could Let You Sync Bitcoin Straight From Your Phone' using UTreeXO created by Tadge Dryja
A Lightning Network node hosted by Satoshi Labs successfully routed one Bitcoin worth of Lightning transactions in a 24-hour period
Read the full article and watch the video here
Coindesk's 'Bitcoin at 10[years old]': From Fearing Bitcoin To Fixing Its Worst Problem: Tadge Dryja
“Maybe we don’t have to store everything ourselves.”
That’s Tadge Dryja, cryptocurrency research scientist at the MIT Digital Currency Initiative, explaining the concept behind his bitcoin scaling solution, “utreexo.”
Based on an idea that has been pursued by developers for many years, utreexo seeks to streamline an aspect of bitcoin’s code that leads to heavy storage requirements over time.
Read the original article here
WGBH News: More local ATMs Will Soon Dispense 'Cryptocurrencies' - Arun Rath Interviews DCI's Director Neha Narula and Others
A celebration of 10 years of Bitcoin features DCI's Tadge Dryja story:
““I thought I would go to jail.”
That’s why Tadge Dryja, one of two principal researchers who would go on to envision lightning – what has become arguably the most important innovation in the quest to bring bitcoin to the masses – kept his passion for the technology to himself when he first heard about it in 2011.”
Read the article on Coindesk here
DCI Director interviewed for The Wall Street Journal: "Winklevosses’ Cryptocurrency Exchange Says the ‘Revolution Needs Rules’" By Nat Ives
DCI’s Director Neha Narula was interviewed by WGBH on the topic of how making cryptocurrency mainstream is beneficial to the general public, by using more tangible methods.
Read the article or listen to the post here
Introducing DCI's New Podcast: Grey Mirror
DCI’s Director Neha Narula commented on ‘Gemini Trust ad campaign calling for new regulations’ in an article for The Wall Street Journal
Cryptocurrency Research Review
In this episode: Tadge Dryja, a research scientist at DCI who co-invented the Lightning Network. We chat about his current research (uTreeXO, a dynamic accumulator for Bitcoin state) and discuss non-fork ways to bootstrap upgrades to a network (a bridge node for uTreeXO).
Michael Casey's "Vertcoin’s Struggle Is Real: Why the Latest Crypto 51% Attack Matters"
Introducing the first issue of the DCI’s Cryptocurrency Research Review. Read it here
WIRED25: The Future of Cryptocurrency - MIT Media Lab's Neha Narula and Reddit's Alexis Ohanian On What's Ahead
You may not have heard of Vertcoin, a crypto project designed to curtail concentration in mining power in the interests of broad-based participation. But if you care about security, decentralization and open access for cryptocurrencies, then the questions raised by a recent breach of its blockchain will matter to you.
Wired 25: Neha Narula and Alexis Ohanian say it's Early Days yet for Cryptocurrency
MIT Media Lab Digital Currency Initiative Director Neha Narula spoke with WIRED’s Brian Barrett as part of WIRED25, WIRED’s 25th anniversary celebration in San Francisco. View Video here
Utreexo: A dynamic accumulator for Bitcoin state - A description of research by Thaddeus Dryja
By KLINT FINLEY 10.15.18 07:36 PM Wired.com
Full article here
Today at the WIRED25 Summit, Neha Narula and Alexis Ohanian talked about some of the ways blockchain, the decentralized ledger technology at the heart of bitcoin and other "cryptocurrencies," could press forward through the current slump and actually become useful.
Static-Memory-Hard Functions, and Modeling the Cost of Space vs. Time
One of the earliest-seen and most persistent problems with Bitcoin has been scalability. Bitcoin takes the idea of "be your own bank" quite literally, with every computer on the bitcoin network storing every account of every user who owns money in the system. In Bitcoin, this is stored as a collection of "Unspent transaction outputs", or "utxo"s, which are somewhat unintuitive, but provide privacy and efficiency benefits over the alternative "account" based model used in traditional finance.
Another perspective on cryptocurrency regulation
By Thaddeus Dryja, Quanquan C. Liu and Sunoo Park
Static-Memory-Hard Functions, and Modeling the Cost of Space vs. Time was presented at the Cryptography Conference 2019, which is organized by the International Association for Cryptologic Research (IACR).
A Former Top Wall Street Regulator Turns to the Blockchain
This week our colleague Gary Gensler was profiled in The New York Times talking about how Ethereum and Ripple should be classified as securities. DCI director Neha Narula continues the conversation about how cryptocurrencies and tokens should be regulated.
The problem with ICOs is that they’re called ICOs
From the New York Times, Nathaniel Popper profiles DCI Senior Advisor Gary Gensler, former chairman of the Commodities Futures Trading Commission ahead of his statements on the regulation of cryptocurrencies to be made at the Business of Blockchain Conference.
The MIT Technology review interviews Robleh Ali, former manager of digital currency for the Bank of England, now research scientist at the MIT Digital Currency Initiative, on why initial coin offerings are dangerous and how to make them more useful. From the piece: