Friday, November 26, 2021

Crypto-Currencies are not “crypto”

The name “crypto-currency” has been attached to Bitcoin and a host of online, blockchain based exchange units … but where’s the “crypto” aspect? 

The realm of information security must "reclaim" the word crypto from people who trade in Bitcoins and other digital currencies, according to industry veteran Bruce Schneier.
"I have long been annoyed that the word 'crypto' has been co-opted by the blockchain people, and no longer refers to 'cryptography'," blogged Schneier in a brief post
Look up the word “crypto” in many dictionaries to learn it refers to cryptography, which in turn is defined as “the computerized encoding and decoding of information”. Search “crypto” on Google, however, and you’ll see a host of top results pointing to cryptocurrencies like bitcoin and ethereum.

This lexical shift has weighed heavily on cryptographers, who, over the past few years, have repeated the rallying cry “Crypto means cryptography” on social media. 

Read more over at the Guardian

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