Reverse Engineering Public Keys of Crypto Can Soon Be a Threat

Reverse Engineering Public Keys of Crypto Can Soon Be a Threat

March 18, 2019 Off Steven Anderson By Steven Anderson

With Bitcoin being a public ledger it is possible for one to see which public keys have the most substantial balances.

Jesse Lund, VP of Blockchain and Digital Currencies at IBM stated, “It is about reverse engineering, where the private keys which represent the control you have over your wallet. The public key is essentially your wallet which holds your crypto balances.

And therefore I think that is a real credible threat. Bitcoin is a public ledger; therefore, so you can go out and see the public keys which are holding the massive balances and you could go out and target the several hundreds or thousands of Bitcoin and say I’m going to spend my effort on the computing resource in order to reverse engineer the private key from the public key, which is exposed. I think that is even a near-term threat.”

Bitcoin has been doing well above the $4000 psychological resistance level; however, it was not able to sustain the standard over the past 3 days.  Profit booking was seen at higher levels.  A mild correction can be anticipated to the 20-day EMA and below.

ETH was not able to sustain past the $144 mark which indicated a lack of buying in the higher levels.

XRP has been trading near the moving averages over the past few days; however, it is expected that the consolidation might not last for long.  A decisive breakout or breakdown is expected within the next few days.

Profit booking is seen for Litecoin even at higher levels, therefore indicating the strength of the currency.  This is indicative of a rally to $65.561 very much probable.

The EOS was not able to break out of the $3.8723 range; however, it can find the support close to the 20-day EMA.

Bitcoin Cash (BCH) rose to the overhead resistance level at $163.89.  It was not able to sustain above the breakout. However, the RSI in the overbought zone indicates that above $163.89 that the price will be able to rally above $175 up to $220.

BNC broke out of $15.910, and a further breakout will propel it to the target object at $18.

XLM shows a consolidation at the swing high, suggesting that the bulls are in the command.

The TRX broke past the 20-day EMA; however, the bulls were not able to sustain the buying pressure and were struggling to hold the 20-day EMA.

The Cardano has not yet triggered the buying mark at $0.05650, and the bulls are not in any hurry concerning profit booking for this token.

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