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Internal gover- 2015, dozens of attacks were reported, currency nance may ameliorate or exacerbate these concerns, 217 exchanges and mining pools were primary targets on especially if there are governing bodies made of up of the Bitcoin network, with over 60% of large Bitcoin members who have the power to include or exclude 218 mining pools suffering DDoS attacks versus only 17% members. (...) Similarly, validators), such as the Bitcoin network where sever- mining pools undertaking POW could monopolize al large mining pools operate. some DLTs or change the underlying protocols. 220 Risks: Mitigation & Recommendations: An attack on a sizeable mining pool can substan- Market conduct regulators would have to consid- tially disrupt mining activity and even early detec- er whether there is a dominance of a DLT within a 221 tion and preventative measures can still result be of particular market activity. (...) Indeed, there is a trade-off between 229 While the Bitcoin client has DDoS prevention meth- replacing costly – and often risky - intermediar- ods, they are not bulletproof and mining pools and ies with cryptographic key-only access distribut- 223 exchanges typically obtain specialized DDoS mitiga- ed across nodes.
Language:English
Score: 1432739.2 - https://www.itu.int/en/publica...s/files/basic-html/page35.html
Data Source: un
From cryptocurrencies to CBDCs By Chaesub Lee, Director, Telecommunication Standardization Bureau, ITU Money as we know it is transforming. Digital currency offers promising ways to make transactions more secure and cost-effective. (...) What digital money can do for cities Bitcoin, blockchain, tokens are terms that cities have a responsibility to help residents understand them, interpreting technological complexity and explaining it in plain language, as well as driving financial literacy.
Language:English
Score: 1431235.8 - https://www.itu.int/hub/tag/digital-fiat-currency/feed/
Data Source: un
Blocks are found in the Bitcoin block chain. Blocks connect all transactions together. (...) Also called a permissionless distributed database or permissionless distributed ledger. The Bitcoin block chain is a public record of all Bitcoin transactions. (...) CPU/GPU cycles spent checking hashes). In the case of Bitcoin, with Proof of Stake, the resource that’s compared is the amount of Bitcoin a miner holds – someone holding 1% of the Bitcoin can mine 1% of the “Proof of Stake blocks”.
Language:English
Score: 1430678.5 - https://www.itu.int/en/ITU-T/f...ents/all/FGAI4H-F-025-A01.docx
Data Source: un
One snippet from her text: Blockchain is much more than Bitcoin. Blockchain’s  first  implementation  as  the  technology  underpinning  Bitcoin has  led  many to associate Blockchain with Bitcoin.
Language:English
Score: 1424990.7 - https://www.unicc.org/news/201...kchain-in-international-trade/
Data Source: un
Because nodes are often 10 launch of the crypto-currency Bitcoin. Bitcoin’s anonymous, there is said to be a need for ‘consen- 12 11 decentralized transaction authentication rests on sus’ between the nodes before a mined block can be blockchain approaches: It records in a digital ledger added to a chain. The veracity of the data within a every transaction made in that currency in identical new block is not checked though: just that the block copies of a ledger which are replicated – distributed itself is able to be added. 15 - amongst the currency’s users - nodes - on a chain The types of consensus mechanisms are outlined of data blocks. in Annex A, with the majority using the resource and 13 DLT is commonly used as a term of art by those power-intensive ‘proof of work’ (POW) mechanism in the technology development community as the first outlined in the Bitcoin blockchain. Many DLTs generic high-level descriptor for any distributed, are moving towards the more energy efficient Proof encrypted database and application that is shared of Stake (POS) consensus protocol and its variants. by an industry or private consortium, or which is Where the technology allows, a consensus mecha- open to the public. (...) If the process is open to everyone - 16 DLTs generally integrate a number of innovations such as with Bitcoin - then the ledger is said to be 17 which include: database (ledger) entries that can- ‘permissionless’, and the DLT has no owner.
Language:English
Score: 1424593.7 - https://www.itu.int/en/publica...s/files/basic-html/page15.html
Data Source: un
 Page 42 - FIGI: Security Aspects of Distributed Ledger Technologies           Basic HTML Version Table of Contents View Full Version Page 42 - FIGI: Security Aspects of Distributed Ledger Technologies P. 42 of the network with as few as 3-4 Bitcoin or Ethe- Vulnerability: reum mining operations dominating over 50-60% of Blockchain Consensus Dominance; Mining Pool the network. 284 Dominance In the case of POW, should one entity or mining Consensus Dominance, more commonly known as a pool hold 51% of the hashing power, that individu- 51% attack in POW blockchains, is a situation where al or group would have monopoly control over the a substantial amount of power - as defined by the blockchain and be able to mine blocks at a faster rate consensus protocol - is held by one entity or group than the rest of the miners in the network. (...) Depending upon the sys- porary forks (Bitcoin) or others which can create a 285 tem, the attacker could ‘choose between using it to permanent hard fork of the blockchain which can defraud people by stealing back his payments, or only be fully corrected by doing the unthinkable – using it to generate new coins.’ The most popular rolling back the blockchain to an earlier block. 286 targets of 51% attacks are crypto-currency exchang- • Failure to Reach Consensus which may lead to fail- es, where often coins are deposited and quickly ure to carry out an action or transaction, such as 287 exchanged for another currency which is immedi- requiring an amount greater than 50% of all nodes. ately sent to another address under control of the • System Dominance, where one or more actors attacker. 288 can, alone or in collusion, can dominate the net- With regard to POW-based blockchains such work and take control over transactions and award as Bitcoin, several papers claim that a 51% attack themselves new crypto-currency and mine or val- can actually be successful with as low as 25% and idate their own transactions, examples of which 33% of the hash/computing power and incidents below include Majority/51% attacks, Sybil attacks. with mining pools have confirmed the potential for • Inferior System Performance, where reaching a such abuse.
Language:English
Score: 1424593.7 - https://www.itu.int/en/publica...s/files/basic-html/page42.html
Data Source: un
DRAFT REPORT : ADDENDUM : CONSIDERATION OF TOPICS BY WORKING GROUPS
In many jurisdictions bitcoins are not considered legal currency and therefore fall outside the scope of money-laundering legislation. __________________ * Available only in English, which is the working language of the subsidiary body. (...) The working group drew the following conclusions: (a) Domestic inter-agency cooperation, the ready exchange of information together with international collaboration with judicial authorities and financial intelligence units need to be encouraged so as to effectively target and disrupt the financial flows of drug-related criminal organizations in the region; (b) It is important that anti-corruption measures in place are regularly revised to ensure they are effective and support the development of an appropriate organizational culture; (c) The legislation enabling the seizure of funds and assets derived from trafficking should be reviewed and updated to respond to the changes in money-laundering practices employed by criminal organizations such as the use of informal banking systems (hawala) and the emergence of bitcoins. 4. The working group made the following recommendations: (a) Governments are encouraged to engage in international regional and subregional cooperation as an effective measure against money-laundering; (b) Governments are encouraged to enact or amend their legislation so that it complies with international standards and relevant conventions to combat the financing of the illicit drug trade; (c) Governments should ensure that the anti-corruption measures that they have put in place to maintain the integrity of their financial investigation units are regularly revised so that they are effective and support the development of an appropriate organizational culture.
Language:English
Score: 1418790.2 - https://daccess-ods.un.org/acc...ODC/HONLAP/40/L.1/ADD.5&Lang=E
Data Source: ods
This serves as a noti ication to the IoT closing transaction to device so that it does not attempt to use the channel in the Bitcoin network future. Fig. 7 – Protocol steps for the IoT device channel closure when the LN 5.4 Changes to LN’s BOLT #3 gateway performs a mutual close with the bridge LN node. (...) Since the channels were made 3‑of‑3 multisignature with LN gateway in a ClosingTxSigned message that has the fol‑ the introduction of the IoT device, it requires changes to lowing ields: Type: ClosingTxSigned, Signature. With this the LN’s Bitcoin scripts. In this section, we show the pro‑ signature, the LN gateway can now broadcast the closing posed changes to the funding transaction output, the com‑ mitment transactions, and the HTLC transactions. transaction to the Bitcoin network and close the channel. (...) In‑ cast the commitment transaction to the Bitcoin network stead, the channel is funded by the IoT device.
Language:English
Score: 1408577.3 - https://www.itu.int/en/publica...5/files/basic-html/page73.html
Data Source: un
The LN gateway hosts the full Bitcoin and LN nodes to serve the IoT device and collects fees in return for its services. (...) This bridge LN node is used vice does not have direct access to Bitcoin and LN thus to route the IoT device’s payments to the destination LN cannot broadcast a funding transaction by itself to open a node. (...) Channel Capacity is speci ied by channel between them (i.e., SSL/TLS). the IoT device and this amount of Bitcoin is taken from the IoT device’s Bitcoin wallet as will be explained in the 2 An explanation on why two-stage HTLCs are needed in LN can be found next steps. at https://github.com/lnbook/lnbook/issues/187. 58 © International Telecommunication Union, 2021     65     66     67     68     69     70     71     72     73     74     75          
Language:English
Score: 1408577.3 - https://www.itu.int/en/publica...5/files/basic-html/page70.html
Data Source: un
. • 2021 – Course videos (lectures / interviews) Course Background / Development The course appeals to technical and non-technical audiences: • Trade / IT professionals as well as service providers • Micro, small and medium-sized enterprise (MSME) users and developers • Policymakers / regulators considering a role for blockchain technology Audiences The course will be made available through both the ITC SME Trade Academy and WTO E-learning Platforms: Platforms / Time Commitment Time bound (2 weeks, 4-6 hours each week) Editions offered cyclically Online discussion forum No time constraints to complete Open registration No cohort, no discussion forum The course includes four (4) modules and a final case study exercise: • Module 1 – Why Blockchain? (...) • Module 4 – Implementing Blockchain for Trade • Case Study Exercise Course Structure The course covers a variety of topics, including: • Bitcoin / Cryptocurrency vs Blockchain? Blockchain vs DLT?
Language:English
Score: 1406921.1 - https://www.wto.org/english/re...eser_e/session_03_slides_e.pdf
Data Source: un