Will Hornet Add to Bitcoin’s Anonymity Strength?Jul 31, 2015

Bitcoin Gamblers Seek Security

Bitcoin Gamblers Seek Security

Issues have been surrounding the privacy of Internet users since its dawn. Whether the involvement of government is ethical or the access of delicate information is still questionable in today’s technology, the thought of personal data falling into the wrong hands is menacing.

Unfair and deceptive acts or fraud can be committed using other’s information. Instances where personal records sold to third parties have happened to most, if not every netizen—examples of which are the spam e-mail in your inbox and the out-of-the-blue advertisement messages.

Targeted Bitcoin wallet hacking, mainly by Hacking Team, may have put bettors’ shields a bit higher than usual. Vulnerability of these wallets is exposed with the introduction of such programs that can infiltrate e-wallets.

Not only are e-wallets useful for online purchases but also for Bitcoin gambling—Bitcoin games cease to exist without the presence of e-wallets, the two are co-dependent. It is where deposit and withdrawal of digital currencies are made.

Tor

Giving the benefit of the doubt may not be the best step to take, especially after a recent article which exposed the recent cryptocurrency and Bitcoin gambling hacking threats. Thankfully, services like Tor and Hornet, which is still being developed, are here to shed some light on the issue of Internet privacy.

The mighty Tor

Tor is a browser that enables anonymous communication, and it secures and conceals information vulnerable to network surveillance or interception. Tor itself is useful for those who value and protect empirical information and transactions. Like it, Hornet aims to provide the same services.

Tor does have a weakness, though. It lacks speed, mainly because of indirect relay to servers. Before reaching the desired destination, the signal has to go through multiple circuits. Think of it as longer detours on the way to a place.

Bitcoin gamblers seek security, and making use of applications that compliment Tor by adding another layer of fortification to existing Bitcoin wallets will help. One of which is a leading Bitcoin wallet provider, Coinkite. The website released an Application Program Interface (API) which currently works with Tor. The site stated that many users are already taking advantage of this as added defense against eavesdropping.

Optimistically, Hornet should also support the program upon its introduction.

Bitcoin Gambling Security

Hornet takes off

Hornet, which stands for High-speed Onion Routing at the Network Layer, is a project in the works. The team based in Zurich and London has conceptualized a system that disguises data without compromising latency.

Users may start to look at Tor as a predecessor for the up-and-coming program, Hornet, which could be a faster and better update of the browser. In fact, many have started to call it Tor 2.0.

Hornet is only a 15-page paper for now. It may take time before Bitcoin gamers can take advantage of the technology—just like Bitcoin before, which started as a nine-page paper and eventually making a name for itself as pioneer of the cryptocurrency.

Improved gaming experience

With the possible improvement in the security in Bitcoin gambling, players will appreciate the fact that Hornet is on its way to eliminate hacking inconveniences. One less troubling thought can make gambling experience with Bitcoin and cryptocurrencies more exciting, safer, and of course, rewarding.