Share this article
Cryptography Pioneer Nick Szabo Touts Blockchain Tech’s Security
Smart contracts pioneer Nick Szabo spoke today at a developer conference for developers working on the public Ethereum blockchain.
Updated Sep 29, 2023, 11:57 a.m. Published Nov 13, 2015, 3:00 p.m.
Make us preferred on Google
Smart contracts pioneer Nick Szabo has lauded the security benefits of decentralised monetary systems built using blockchain technology.
Speaking at Ethereum's DEVCON1 conference, held in London today, Szabo – often rumored to be the creator of bitcoin – gave an overview of the blockchain's history and highlighted the security inefficiencies of centralised systems typically used by traditional finance institutions.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Centralisation is insecure, said Szabo, before noting mainstream finance's reliance on government and law enforcement officials for security:
"This is one of the reasons why [traditional finance] is stuck and highly regulated."
Szabo also reflected on early decentralisation attempts and digital cash proposals commenting on how these had failed due to a lack of expertise and knowledge.
"There are a bunch of digital cash startups which either failed or became centralised systems like PayPal," he added.
During his session, Szabo urged the audience to think about security more broadly. "Let's try to secure everything, protect everything that is important to us as much as we can."
Organized by the Ethereum Foundation, a nonprofit that oversees development funding for work on the public blockchain, and ΞTHÐΞV, which conducts research that aims to further the underlying goals of the Ethereum network, DEVCON1 is a five-day developer conference aimed at promoting the project's work and larger vision.
Image via CoinDesk
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
Больше для вас
HYPE token's 30% surge is a story of crypto-traditional market convergence, treasury firm says
HYPE has surged 30%, outperforming bitcoin, ether and the CoinDesk 20 index by a big margin.
Что нужно знать:
- Hyperliquid's HYPE token has surged more than 30% to $33, far outpacing bitcoin, ether and the broader crypto market, as trading activity on the platform accelerates.
- The token rally represents the merging of traditional assets with the crypto world, according to Hyperion DeFi, which is a HYPE treasury company.
- Originally a crypto perpetuals exchange, Hyperliquid has expanded into tokenized trading of equity indices, individual stocks, commodities and major fiat pairs via its HIP-3 upgrade.
Top Stories
