DailyCoin
DailyCoin

Bitcoin Price, Digital Currencies News, Blockchain News, Charts and Information

Post Login
  • Home
  • Price & Data
    • Bitcoin Price Index
    • Bitcoin Cash (BCH) Price
    • Ethereum Classic (ETC) Price
    • Ethereum Price
    • Litecoin (LTC) Price
    • Ripple (XRP) Price
    • EOS (EOS) Price
    • Dash (DASH) Price
    • Zcash (ZEC) Price
    • Market Center
    • Monero (XMR) Price
    • Bitcoin Price Ticker Widget
  • News
    • Business News
    • Markets News
    • Technology News
    • Features
    • Legal
    • Bitcoin Market
    • Mining
    • Companies
    • Crime
    • Ethereum Market
    • Bitcoin
    • Exchanges
    • Regulation
    • Litecoin Market
    • Security
    • Startups
    • Banking
    • Prices News
    • Ethereum
    • Bitcoin ATMs
    • Bitcoin News
    • Ripple Market
    • Energy
    • Press Releases
  • Guides
    • What is Bitcoin?
    • Why Use Bitcoin?
    • How Can I Buy Bitcoins?
    • How do Bitcoin Transactions Work?
    • How Bitcoin Mining Works
    • How to Store Your Bitcoins
    • What Can You Buy with Bitcoin?
    • Who is Satoshi Nakamoto?
  • Wallet
X

Major UK Telecom Seeks Blockchain Security Patent

BT

Major UK Telecom Seeks Blockchain Security Patent

February 4, 2017 5:55 AM | By Jit Sutradhar News Technology

  • Google
  • Facebook
  • Twitter
  • More
    • Pinterest
    • Reddit
    • Digg
    • Linkedin
    • Delicious
    • Tumblr
    • BufferApp
    • Pocket
    • Evernote

BTOne of the UK’s largest telecoms is seeking a patent for a security system aimed at preventing malicious attacks on blockchains.

British Telecommunications (BT) PLC submitted a patent application last July for “Mitigating Blockchain Attacks” to the US Patent and Trademark Office (USPTO). The application, released on 2nd February, details both a system and methods for monitoring transactions on a particular blockchain in a bid to “detect malicious attacks”, the application’s authors write.

The filing is notable given its source, as BT is the largest Internet service provider in the UK, according to recent marketshare data. The patent also represents BT’s first known involvement with the tech.

Threats to security

While the application doesn’t detail which blockchain is addressed by the patent – whether bitcoin, ethereum or some kind of private ledger – it does directly reference mining, or the energy intensive process by which new transactions are added to the chain.

The proposed system, according to BT, could be used to create a “a transaction creation profile”, suggesting that it would be applied to a permissioned network in which only certain participants are allowed to submit transactions.

As the application notes:

“Despite the architecture of blockchain systems, malicious attacks present a threat to the security and reliability of blockchains.”

Other threats identified in the application include 51% attacks, through which an entity controlling a majority of hashing power has the theoretical power to start reordering transactions.

“Other attacks also pose a threat to the blockchain and its users, including: the Sybil attack in which an entity attempts to fill a miner network with clients controlled centrally or pseudonymous miners; and various denial of service attacks such as sending excessive data to a miner to overwhelm the miner such that it cannot process normal blockchain transactions,” the application goes on to state.

BT isn’t the first telecom to attempt to patent a blockchain-related technology. Last year, AT&T filed an application with the USPTO for a kind of home subscriber server that utilizes a blockchain.

READ MORE

 

Article Source: http://www.coindesk.com

Blockchain TechnologyBTPatentstelecomUK
  • Google
  • Facebook
  • Twitter
  • More
    • Pinterest
    • Reddit
    • Digg
    • Linkedin
    • Delicious
    • Tumblr
    • BufferApp
    • Pocket
    • Evernote
code

Previous :


Ethereum Payment Channels Could Enter Production in 2017
poland, krakow

Next :


Polish Regulator Recognizes Bitcoin Businesses

Related Posts

Marbles
Initial Coin Offerings

$232 Million: Tezos Blockchain Project Finishes Record-Setting Token Sale

The Tezos blockchain project has completed its initial coin offering, or ICO, bringing in a record-smashing $232m-worth of bitcoin and …

July 13, 2017 10:00 am | Jit Sutradhar

SEC
News

ETF Tied to Bitcoin Futures Withdrawn After SEC Staff Request

Reality Shares ETF Trusts, a division of Blockforce Capital, is withdrawing an exchange-traded fund proposal that, if approved, would have …

February 13, 2019 9:31 pm | Jit Sutradhar

Golden egg
Business News

A16z, Binance and More Back Oasis Labs’ New Blockchain Incubator

Blockchain startup Oasis Labs has teamed up with some notable venture capital firms and hedge funds to launch a new …

October 8, 2018 8:21 pm | Jit Sutradhar

Building-Blocks
Business News

Energy Giant Engie, Maltem Back New ‘Blockchain Studio’ With $2.3M

French energy company Engie and business consulting group Maltem are launching a new blockchain development spinoff for commercial clients, the …

September 8, 2018 11:56 am | Jit Sutradhar

Comments (one)

  • Eleni Kopera says:
    March 5, 2017 at 9:53 am

    I love it when people come together and share opinions, great blog, keep it up.

    Log in to Reply

Write a Reply or Comment Cancel reply

You must be logged in to post a comment.

You must be Logged In or Sign Up to post a comment.

Recent Releases

  • Maker’s MKR Crypto Outperforms in February with 37% Gains

    February 16, 2019 4:11 PM | By Jit Sutradhar

  • Metrics May Point to Ether Being Undervalued

    February 16, 2019 10:00 AM | By Jit Sutradhar

  • tZERO Is Live, But Volume Is Light and Its Token’s Price Is Down Sharply

    February 15, 2019 7:27 PM | By Jit Sutradhar

  • NYSE Arca Filing Kicks Off Countdown for New Bitcoin ETF

    February 15, 2019 3:26 PM | By Jit Sutradhar

Features

  • Maker’s MKR Crypto Outperforms in February with 37% Gains

  • ether-ethereum

    Metrics May Point to Ether Being Undervalued

  • tZERO

    tZERO Is Live, But Volume Is Light and Its Token’s Price Is Down Sharply

  • SEC

    NYSE Arca Filing Kicks Off Countdown for New Bitcoin ETF

  • dominos-pizza

    ‘Make Bitcoin Fun Again’: New Lightning App Lets You Buy Pizza With BTC

  • Home
  • Guides
  • About
  • Contact
© 2019 DailyCoin . All Rights Reserved.

Join to DailyCoin


SignUp with Facebook
SignUp with Twitter
SignUp with Google
or with email
Username
Email
Password (at least 6 characters)
Confirm Password

Login to DailyCoin


Login with Facebook
Login with Twitter
Login with Google
or with email
Username or e-mail
Password
Remember Me
Lost Password?

Reset Password

Enter the username or e-mail you used in your profile. A password reset link will be sent to you by email.


Username or E-mail


Loading...

Don't have an account? Sign Up Already have an account? Login