Sending Messages to the Future: Timechain Cryptocurrency Security

time-lock-encryptionElías Snær Einarsson and Matthew Roberts, two coders who presently focus largely on cryptocurrency, have entered the security business with a splash, presenting a system called Timechain which aims to eliminate one of the biggest problems for exchanges: private keys having to exist in the same place as the funds being exchanged.

Disclosure: the author is nothing of a cryptographer. Please make any corrections in the comments.

Roberts is the inventor of Uptrenda, a “significantly more practical and secure” altcoin exchange system. Einarsson is the developer of RedArc, a Reddit archiving system written in Javascript. Before anything else, it should be noted that these two take a considerably relaxed approach for programmers focusing on security. This is refreshing, as many would say that security should never be an off-putting subject. It should be an inviting one. In any case, in their new post outlining Timechain, the developers outline a few situations which are true-to-life

Read more ... source: CryptoCoinsNews