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How to Keep Your Seed Phrase Safe?Steps to Keep Your Seed Phrase Safe: Write Down the Seed Phrase Correctly: Allocate 30-60 minutes in a quiet, private place without strangers or video surveillance. Use a pen and paper to write down the seed phrase accurately. Verify the Seed Phrase: Double-check the spelling and word order to ensure correctness. An incorrect seed phrase will not restore access to your assets. Choose a Safe Storage Location: Store the written seed phrase in a secure location, such as a safe or a document storage with a combination lock or biometric access. Do Not Memorize the Passphrase: Even if you can remember the seed phrase, always keep a written version as a backup. Use Reliable Materials: Consider using water-resistant paper or titanium plates to write down your seed phrase. If using regular paper, ensure it's sturdy and use ink or pencil that won't fade over time. Avoid Digital Storage: Do not take pictures of your seed phrase with a smartphone. Do not store your seed phrase on a computer, smartphone, or any electronic device to avoid the risk of hacking or theft. Keep the Seed Phrase Private: Never share your seed phrase with anyone. Even wallet support services should never ask for your passphrase. Avoid Entering the Seed Phrase Online: Never enter your seed phrase on any website, even if it claims to be for verification, technical support, or authorization. Inform Trusted Individuals: Let close, trusted individuals know about the existence of the seed phrase in case they need to access it in an emergency. Regularly Check the Seed Phrase: Periodically verify that the seed phrase is still in place and undamaged. If any signs of damage appear, generate a new seed and transfer your assets to a new wallet. Consider a 25th Word: Some hardware wallets offer the option to add a 25th word, which you can create to add an extra layer of security. This additional word is only known to you and increases the security of your wallet. By following these tips, you can significantly enhance the security of your seed phrase and ensure that your cryptocurrency assets remain protected. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch! ✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes. --- • Look at my ideas about interesting altcoins in the related section down below ↓ • For more ideas please hit "Like" and "Follow"!
Education
by Crypto4light
Layer 0 Blockchains ExplainedHello everybody. Today i will explain What is Layer Zero Blockchains and How it work and whats the difference betweem L1 and L0 ? Lets go... First take a look at The Scalability Trilemma : the scalability trilemma is a series of trade-offs between decentralization, speed/scalability, and security that one must make when designing a blockchain and constructing rules for its on-chain governance. Centralization = Increased Speed, Decreased Security & Censorship Resistance Decentralization = Decreased Speed, Increased Security & Censorship Resistance It is very difficult , if not impossible, to achieve perfect decentralization without compromising scalability, and vice versa. This is especially true on a monolithic blockchain where all the critical functions like transaction execution, consensus and data availability (the ability to verify that all the data from new blocks has been published) are managed by a single network, increasing the likelihood of congestion and making it much more difficult to scale. A workaround to the scalability trilemma is to delegate the primary responsibility for these 3 functions to different independent blockchains. This design ensures that the execution chain can be optimized for handling high TPS dapps like a DEX or play-to-earn game without worrying about decentralization. A second chain can then be optimized for decentralization and serve as a final consensus layer for the execution chain to enable withdrawals to and anchor its data. When it comes to scalability, layer 0 networks can help blockchain scale by increasing transaction throughput. While transaction speed is typically measured in terms of TPS (transactions per second), transaction throughput looks at the total number of transactions that a network can handle at one time. The Problem with Layer 1s As the demand for Dapps increases and more capital flows into the space to support development, we are beginning to see the growing pains of layer 1 networks as they struggle to meet the needs of developers and end users who have opposing views on whether dapps should prioritize scalability, security or decentralization. Layer 1 networks are built with a monolithic architecture. This means that the execution, consensus and data availability layers are all functioning within a single blockchain network. This stacked design places a strain on the system and results in the need for blockchains to comprise decentralization for security, or scalability for decentralization. In addition, the lack of control over the underlying infrastructure that dapp developers build on top of has also been a cause of much frustration. Rising gas fees on the Ethereum network make all ethereum dapps too expensive to use, while unexpected downtime on the Solana network similarly makes all dapps on Solana also go offline. Dapp developers must also make compromises in how they design their dapps in order to remain compatible with these L1 networks, and lack the ability to explore different consensus mechanisms or to experiment freely with token incentive models because consensus is a primary function of the L1 infrastructure layer. The overdependence on L1’s and difficult tradeoffs imposed by the scalability trilemma can only be remedied by creating a new base infrastructure that empowers developers to launch their own independent blockchains that can be optimized for different aspects of the scalability trilemma. This base infrastructure is called layer 0, and it is the single most important component for helping blockchains and decentralized applications achieve limitless scalability while maintaining the highest possible levels of decentralization and censorship resistance. What is a Layer 0 Blockchain? A layer 0 is a type of protocol that enables developers to launch multiple layer 1 blockchains that can be designed to each serve a specific purpose and cater to 1 or 2 dimensions of the scalability trilemma as opposed to all 3. These L1 networks can also be made to communicate with each other such that the end user can have the experience of using one blockchain while they are in fact using multiple. Layer 0 (L0) networks are equipped with software development tool kits or SDKs that allow developers to launch their own blockchains, known as Layer 1s or L1s or sidechains, that are connected to the L0 mainchain but operate independently. Diffrences Between Layer-0 vs. layer-1 blockchains You can see some main differences between L0 and L1 blockchains in picture below:' I hope you enjoy this Article please share me your opinion in comments. Good Luck...
CRYPTOCAP:BTCEducation
by TraderAmin-KZ
4
Quantum cryptography and Post-Quantum cryptographyHello guys today i want to explain Quantum cryptography and Post-quantum cryptography and how they can affect blockchain security and whats the solution. lets start with a brief explanation of cryptography: Cryptography is the process of encrypting data, or converting plain text into scrambled text so that only someone who has the right “key” can read it. NOW what is quantum cryptography? Quantum cryptography simply uses the principles of quantum mechanics to encrypt data and transmit it in a way that cannot be hacked. and what is Post-Quantum cryptography? Post-quantum cryptography refers to cryptographic algorithms (usually public-key algorithms) that are thought to be secure against an attack by a quantum computer. These complex mathematical equations take traditional computers months or even years to break. However, quantum computers running Shor’s algorithm will be able to break math-based systems in moments. How Quantum Cryptography Works? Quantum cryptography, or quantum key distribution (QKD), uses a series of photons (light particles) to transmit data from one location to another over a fiber optic cable. By comparing measurements of the properties of a fraction of these photons, the two endpoints can determine what the key is and if it is safe to use. The sender transmits photons through a filter (or polarizer) which randomly gives them one of four possible polarizations and bit designations: Vertical (One bit), Horizontal (Zero bit), 45 degree right (One bit), or 45 degree left (Zero bit). The photons travel to a receiver, which uses two beam splitters (horizontal/vertical and diagonal) to “read” the polarization of each photon. The receiver does not know which beam splitter to use for each photon and has to guess which one to use. Once the stream of photons has been sent, the receiver tells the sender which beam splitter was used for each of the photons in the sequence they were sent, and the sender compares that information with the sequence of polarizers used to send the key. The photons that were read using the wrong beam splitter are discarded, and the resulting sequence of bits becomes the key. If the photon is read or copied in any way by an eavesdropper, the photon’s state will change. The change will be detected by the endpoints. In other words, this means you cannot read the photon and forward it on or make a copy of it without being detected. The Solution We Need Now for Tomorrow! The need for unbreakable encryption is staring us in the face. With the development of quantum computers looming on the horizon, the integrity of encrypted data is at risk now. Fortunately, quantum cryptography, through QKD, offers the solution we need to safeguard our information well into the future – all based on the complex principles of quantum mechanics. In January 2022 a team at Sussex University spin-out company Universal Quantum published research on transit attacks which calculated that it would require a quantum computer with a 1.9 billion qubit-capacity to break Bitcoin’s encryption in the required ten-minute window (this is the time taken for a Bitcoin to be mined). Even at 317 million qubits it would take an hour and 13 million qubits for a day. For context, IBM’s superconducting quantum computer currently has a 127-qubit processor. REFRENCES: www.investmentmonitor.ai www.quantumxc.com www.techtarget.com Hope you enjoy this article. please share me your opinion about Quantum computing in comments. can they break BITCOIN???!!!
Education
by TraderAmin-KZ
6
The FULL Security Guide to keep your money SAFEEmail: - Email Providers - Any reputable email provider with 2FA will do - If you want to get more into privacy and encrypting emails there is Protonmail or Preveil - You can alternatively also hook up your current email with the Thunderbird email client (use to be managed by Mozilla Firefox) it is overseen by a volunteer board of contributors. - 2FA - This is important, activating 2FA on your email is just as important as having it on exchanges. - Create an email specifically for Crypto, but also avoid using crypto keywords / personal information in the email, treat your email address like its public information. - Be on the lookout for Phishing emails, I made a post on how to identify phishing emails along with some useful tools here | How to spot a phishing email | - Quick tips for emails: - Don't trust email links - Double check the address bar of login pages - Know the levels of a domain - Check to see if your crypto sites allow a anti-phish banner that displays a code with their emails that you set. - Tracking pixels are also a thing, there not malicious in themselves, but they can potentially let attackers know if you have open an email / let them know the email exist and is active. Passwords / PINs: - Don't reuse them EVER - Use strong secure passwords, passwords managers make these easy to manage and generate passwords. - This includes your phone and 2FA app, if you have a weak pin (1234) for your phone and someone takes it, remember your 2FA app is then available (if same pin, or no pin/pass set), your email is automatically signed in (same for other accounts auto signed-in), and they can access your text messages. - Don't use words relating to crypto or personal information in your passwords (or email), if they are compromised in a breach, assume they will search for these terms to target crypto users and try the same combo against crypto sites or figure who you based on the information (email & password) and pivot to finding public information that could lead to them answering challenge questions for password resets. (Your first pet, is it posted on Facebook? How about your car? Your first girlfriend/boyfriend?) - Password Managers: These work wonders when managing passwords securely. They generate random strong passwords which can be adjusted, and its all kept in an encrypted database file, so even if a attacker gets access to it, they won't be able to access it without the password. - KeePass - BitWarden - LastPass - 1Password - Don't save passwords in your browser - Does it require verification for you to use the password? Also I tend to find extensions being more buggy as they have to interact with more 'moving' parts and changing configurations, and generally more people try to target and exploit browsers. 2 Factor Authentications (2FA): - Enable on everything possible - Use 2FA Apps instead of SMS whenever possible, SIM Swap attacks are real, and more common than you think. - 2FA Apps - Authy (Linux | Windows | macOS | Iphone | Android) - Google Authenticator (iOS | Android) - Microsoft Authenticator ( iOS | Android) - LastPass Authenticator (Browser Extension | iOS | Android | Windows Phone) -Hardware Keys - These are physical 2FA device - Backup codes: - When you activate 2FA on any account you should have the ability to generate backup codes, these are used incase you lose access to your authenticator, TREAT these like your seed phrases. Use them by logging in with your user and pass, and use these backup codes in place of the 2FA code you usually enter. - DO NOT take pictures of your QR codes, if you screenshot it, might end up syncing somewhere you don't want it to and if it ever gets compromised they have the ability to continually receive your 2FA code. - Also, DO NOT sign up for your 2FA app or any crypto service for that matter using your work or school email address. You lose access to that email, then consider all accounts gone as you won't be able to access the codes if you switch devices. Wallets - Learn the difference between the different wallets - Cold wallets will always be more secure than any hot wallets as they aren't connected to the internet - Top trusted hardware wallets: - Ledger - Trezor - Verify the details you are confirming on your hardware wallet device. the wallet app interacting with your cold wallet device could be compromised, but you would still be safe using it, as long as you verify each action on the cold wallet device, and reject the transaction if anything seems off. Seed Phrases : Treat these as they are the keys to the kingdom (Keep offline and out of your notes app) - Less Secure: - Write down on paper and either break up the phrase and place in separate secure locations or hide them like the the FBI is going to come search your house - Secure on USB - Get a file shredder (securely deletes data, and overwrites it) - Download password manager (optional) - Disconnect device from internet - Enter seed phrase into password manager / create encrypted file - Put on a freshly reformatted USB / datalocker (Worms like to spread by USB) - Save to USB, and shred the original using the file shredder software - Hide USB - Another device / old phone - Factory reset - Set Pin / Pass - Download 2FA app and password manager / file encryption tool - Disconnect from internet FOR GOOD (Treat this like a cold wallet) - Back up 2FA and seed phrases - Hide device VPNs / TOR: - Privacy vs Anonymity - Privacy is the ability to keep your data and information about yourself exclusive to you (They know who you are, but not what you do). - Anonymity is about hiding and concealing your identity, but not your actions. (They know what you do, but not who you are) - Think about what your goal is, I commonly associate privacy with VPN and anonymity with TOR - Both encrypt your data before leaving your device, then routes it through proxy servers to mask your IP/Location. VPNs you have to trust the provider (ensure they state there is a no log policy) while TOR runs through servers ran by volunteers (don't think governments don't run their own) and lets you access the dark web. Here is a more in-depth comparison on VPN vs TOR. - Personally Its worth paying the few bucks a month for a paid tier of the VPN service. - VPN Providers - Zero log VPN services: - ProtonVPN - Nord - Mullvad - TOR - Brave offers TOR, but I would treat this more like a VPN - If being anonymous is your goal the only real way to achieve this is running Tails off a USB. Browsers (Excluding TOR): - Top 3 Browsers built for privacy - Firefox - Epic - Brave (I know Brave draws criticism but I made a technical post showing how the trackers didn't show up within the metamask extension through brave compared to Google Chrome.) - Search Engine for privacy: DuckDuckGo - Extensions - One of the most dangerous threats I think that aren't taken seriously are extensions. These can start out legitimate, then through an update turn malicious. These will then be removed from the webstore, but not your browser. - Some will be removed the store due to not being supported anymore which = no more updates, and no more updates = vulnerabilities that won't be fixed - If you have Google Sync activated, these extensions will also sync to all those devices - Remove any extensions you don't need, check to see there still available on the store, and even search them to see if some security article like this pops up about it. - Check the privacy practice tab of the extension to see what data it collects. Other General Safety Tips for PC and Phone: - Harden your PC (Guide is for Windows 10, but can translate to other OS) - Update OS and any software // turn on automatic updates - Everything you download is an attack vector - Set firewall rules - Default deny, open only p855orts you need, disable rules you don't need - disable remote access - Install AV // Malwarebytes for removing malware - Turn on encryption - Setup user accounts // privileges' - Strong password - Whitelist addresses if possible (Some exchanges allow you to designate a address as 'safe' any other transactions besides those won't go through) - If you use a encrypted messaging service, I highly recommend Signal, if you haven't seen their reply regarding a subpoena you should - Lock down your social media accounts (go to security settings, turn off being able to be found via search engine, ad related settings, change who can view your posts, etc) - Don't disclose your holdings and earnings - Don't access your crypto on your work computer - Don't answer PMs about winning some contest or some amazing opportunity Phone: - Unique pin / password for the phone - download a password manager - email account purely for crypto - pin / password (different than getting into your phone) for your 2FA app. - Don't lend phone out - Avoid apps you don't need, read the 3 star reviews as they are the most honest) - Download VPN / be aware of the wifi your connecting to - Be aware of phishing - Call your service provider and see if they can lock your SIM card and prevent SIM swapping.
Education
by SoftKill21
2
Security - Version 2 vs. Version 3Visualising the difference. Let's take a look at the security function, the differences between version 3 and version 2, and hopefully help give people a better understanding of how these work. As many will know there are differences in how version 2 and version 3 handle the "security()" function. Confusion around the mechanics of this function can lead to headaches for people testing scripts and trying to intuit how it works. So we’re just going to run through some examples to give a visual along with some explanations. First, let’s look at 2 instances of the following code, one in version 2, one in version 3. //@version=2 study("My Script", overlay=false) num = security(tickerid, "60", n) bgcolor(num%2==0?orange:na) plot(num) This will use the built in variable “n” on the 60 minute timeframe using the security function. The variable “n” assigns each bar a sequential number. We will use a 5 minute resolution for our chart and plot the 60minute bar number and change the background color to orange if the bar number is an even number. Let’s see how that looks. So there’s 2 important points to mention here. The first is that the highlighted areas are almost exact opposites to each other. This is because in version 3 the security function uses the value of the previous bar when looking back at historical data. So in our example, at the time that version 2 painted the 14454 bar, that was the correct bar number. In version 3, it was using the previous bar of 14453. So with historical data version 3 essentially has 1 bar of lag. This is to avoid issues of the bar using “future data”, which we will show an example of shortly. The second thing to note is the time at which the bar begins. Using the above example again, notice that the beginning of the new 60min bar has a 1 bar difference on the current timeframe. In version 2 the new bar starts at exactly 09:00, whereas in version 3 it starts at 08:55. Note that this is because we are using the 5 minute chart, if we were using a 3 minute chart the version 3 bar would begin at 08:57, or a 15 minute chart would begin at 08:45. Why? Well, perhaps the following chart will help explain. We will use the following simple bit of code that again use a 5min chart and plot the 60min high value. The purple line is the code in version 2, the green line is the code in version 3. h = security(tickerid, "60", high) plot(h) There’s a lot going on here but we’ll go through it step by step. The first thing to notice to make sense of this picture is that the green bar is exactly the same as the purple bar, but just shifted to the right. This is the lag we mentioned, because the green bar (version 3) is using the value from the previous 60 min period. Now, notice the red circled areas. These areas show the beginning of the new bar for version 3 and the end value of the bar for version 2. **In version 3, the new bar begins as soon as we know the final value of the previous bar.** So using our first chart example, the final closing value of the 08:00 – 09:00 period is the closing value of the 08:55 bar (on 5min chart), so the 08:55 value is where the new version 3 bar begins. The version 2 bar uses future data as default. You can see examples of this where the orange ellipses are on the chart above. Remember, the purple line is charting the high of the current period, but with version 2 the high of that hour is painted on the chart before that highest value is reached, as highlighted in orange. Using the high value from our security function at any of those highlighted points would give us inaccurate back testing results because our indicator would essentially be looking into the future. So what are the practical implications of this? Well, it means if you’re using version 2 you’re going to get inaccurate back test results because of the future data issue, which is the main reason this was changed for version 3. If you’re using version 3, however, that’s not a magical fix either. For instance if you’re using an hourly chart and pulling the daily data with the security function, the “daily” value last Wednesday will actually be using the values from last Tuesday. So with our examples of using the period “high”, it will be possible for the current hourly high to be above the security data’s daily high, because it’s using the previous day high. Difference between real time and historical data Everything we’ve talked about so far has been dealing with historical data. Real time data for both version 2 and version 3 work the same way and work correctly. That is to say if you’re using a 5min chart and pull the data from the hourly with security, then the real time data from the security function will match the real time data from an hourly chart. But how does that work if the version 3 data uses the value from the previous period? Well, as soon as you plot security values in a chart you’ll notice that the newest bar value will change. As soon as new data starts getting painted it will switch from the previous period’s value to the current value. For example, this is a minute chart plotting the 3 minute high via the security function. Purple values are version 2, green are version 3, and you’ll see as soon as we hit real time data (when we clicked “add to chart”, signified by the pink dotted line) the 2 are identical. The version 3 data switches from lagging by 1 period to real time, and the version 2 line stops using future data. But this is where repainting comes into play. This is the same chart moments later, after refreshing the indicators. Now they will again show both indicators in their historical form. The version 2 purple line is using future data again, and the version 3 green line is lagging again. Simply using version 3 is not enough to avoid repainting, if that’s what you’re trying to do. So what do we do? Well, how you deal with this depends on what you’re trying to do. What I’ve tried to do is explain exactly how it’s behaving and why. How you then use that is up to you. There’s nothing “wrong” about any of this data or behaviour as long as you understand what’s happening. For those of you trying to match up automation with back testing or just current values with back testing, bear in mind that these discrepancies are due to the differences between how real time and historical data are handled in the security function. If you’re comfortable with only ever using the most recently closed bar from the higher timeframe, use version 3 and you can simply add to the end of your expression within the security function, and all these problems go away; no repainting, no future data used, real time data matches historical data. You just have to embrace the lag.
BITFINEX:BTCUSDEducation
by HayeTrading
6