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Antoine Riard believes the Bitcoin community faces a "hard dilemma" as a new class of replacement cycling attacks threatens the Lightning Network. Security researcher and developer Antoine Riard is stepping down from the Lightning Network’s development, citing security issues and fundamental challenges to the Bitcoin ecosystem.  According to a thread on the Linux Foundation’s public mailing list, Riard believes the Bitcoin community faces a "hard dilemma " as a new class of replacement cycling attacks puts Lightning in a "perilous position." How does a lightning replacement cycling attack work? There's a lot of discussion about this newly discovered vulnerability on the mailing lists, but the actual mechanism is a bit hard to follow. So here's an illustrated primer... 1/n pic.twitter.com/mvvS8bEc5f — mononaut (@mononautical) October 21, 2023 The Lightning Network is the second-layer solution built over the Bitcoin blockchain. It is designed to...

If someone asked you how many blocks (or minutes) they should wait to make sure their Bitcoin (BTC) transaction is irreversible, would you know what to say? The “rule of thumb” would be between three to six blocks (around 30 to 60 minutes), but experts say it should be even more. Different people could give different answers, and a recent post by Luke Dash Jr. (@LukeDashjr) — a Bitcoin Core developer — on X suggests that a 12-block waiting (around 120 minutes) is the safer approach, considering Bitcoin mining‘s current state. Indeed, probably should wait a good 12 blocks now — Luke Dashjr (@LukeDashjr) September 19, 2023 With that in mind, Finbold went deeper into understanding what is the safer confirmation time for a Bitcoin transaction . Bitcoin transactions have probabilistic finality Due to Bitcoin having what is called ‘probabilistic finality’, transaction s’ irreversibility increases for each new block added to the blockchain after the block that inclu...

The company’s co-founder announced that the fund is still in the works but plans to provide billions to startups with a metaverse focus. The GameFi champion and metaverse developer Animoca Brands has a billion -dollar fund in its plans, according to a report from Nikkei Asia on Nov. 30. Animoca Brands’ co-founder Yat Siu said in an interview that the fund could potentially have up to $2 billion dollars to allot to mid to late-stage startups with a metaverse focus. The fund and the exact amount available to developers have yet to be finalized. Cointelegraph reached out to Animoca Brands for a comment, to which the company confirmed that the fund is “in the works.” According to the interview with Siu there will be no geographical restrictions for those to receive funding and the primary focus will be “everything on digital property rights." He also said the funds are intended to speak to a more mature developmental atmosphere in the Web3 - metaverse space, which allows investor...