What's Lurking in the Bitcoin Blockchain? by Brent Whitfield

Jun 1, 2018

The bitcoin blockchain has been hacked. But don't worry, there's no danger to the currency itself (at least, there doesn't seem to be at this stage).

In fact, 'hacking' may be a bit melodramatic as what has been happening is a bit more akin to digital graffiti. Let me explain.

The first person to make their mark on the Bitcoin blockchain was Satoshi Nakamoto, the name used by the cryptocurrencies founder (or founders). In a seemingly political statement, Nakamoto encoded a news headline in the Coinbase data field within the very first (or 'genesis') block. It simply read, “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.' The beauty of the blockchain is that, if you don't believe me, you can go and look it up on Blockchain or something similar and read it in black and white.

Four More Ways to Create a Permanent Message on the Blockchain

There are apparently six ways to add messages to the blockchain but we will focus on four of them (five if you count the Coinbase example above which is restricted to miners).

  1. Creating a Vanity Address

A Bitcoin vanity address is similar to a vanity plate on a car. It is a way to personalize your address....

Author

Hakin9 TEAM
Hakin9 is a monthly magazine dedicated to hacking and cybersecurity. In every edition, we try to focus on different approaches to show various techniques - defensive and offensive. This knowledge will help you understand how most popular attacks are performed and how to protect your data from them. Our tutorials, case studies and online courses will prepare you for the upcoming, potential threats in the cyber security world. We collaborate with many individuals and universities and public institutions, but also with companies such as Xento Systems, CATO Networks, EY, CIPHER Intelligence LAB, redBorder, TSG, and others.
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