Bitcoin Global News (BGN)
April 18, 2019 -- ADVFN Crypto NewsWire -- Today, CoinDesk
published the news across the crypto space that Paypal has been
awarded another crypto-related patent. Unlike one of the last
patents, which involved speeding up the transfer of private keys on
a crypto network, this one is taking a bit of different
direction.
Reportedly, Paypal is aiming to
lead the way with regards to technical solutions that block
ransomware attacks from being successful. In CoinDesk’s article
today that is referenced above, they attempted to break this down
on a level that the end user can easily understand.
In short, however, it appears that
their solution does not involve blockchain networks at all. If you
are wondering why this news matters to the blockchain industry in
this case, then you are surely not alone in this
respect.
The fact is, however, it does
matter due to something that it takes away from the space. Consider
what one of the biggest stumbling blocks is between the global
populace and whether or not they choose to use
cryptocurrencies.
Due to numerous hacks, including
ransomware attacks, crypto coins have taken on a context of being
the favorite money of criminals in the mainstream media. If Paypal
is successful with their method of retaining the integrity of files
through dual-caching them, then ransomware creators will likely
have to go back to the drawing board.
As The Merkele mentioned today,
this has arguably never been more important since ransomware
hackers are getting so adept at what they do that “system recovery
functions” are being disabled. In other words, rebooting your
Windows from scratch will no longer bring back important files that
you have cached in a recovery disk.
With Paypal’s solution, by
“dual-caching,” it appears that they mean storing a file twice in a
computer’s recovery cache and possibly encrypting one of those
copies in a way that it is nearly impossible to delete it. Since
public information on the patent was just released this week,
expect more insights to be published on this subject as this saga
unfolds.
Until that point, keep in mind that
if ransomware were to be meaningfully halted in its’ tracked, then
the overall image of cryptocurrencies might be significantly
improved in the public eye.
By: BGN Editorial Staff