A coin for security
Here’s another idea for a cryptocurrency - a coin that rewards people for the practices they use to secure their cryptocurrencies on other blockchains.
This can all be done without trust because many aspects of cryptocurrency security already depend on cryptographic proof. A brief list of things that a cryptocurrency like this might check for includes:
- N factor auth and hardware devices used for multi-sig signing.
- Fail-safe theft recovery procedures
- Password complexity and rotation checks (like revealing hash-locked inputs.)
- Cryptographically provable wallet backups.
- Use of privacy enhancing protocols.
- Use of secure exchanges to purchase coins.
- Other, e.g. provably secure constructs, possibly with trusted computing.
There are so many different ways to protect crypto-assets and I’ve put a lot of thought into working them all out over the years. But in spite of this the biggest
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