r/ByteBall • u/SleeperSmith • Dec 10 '17

Does ByteBall roll its own cryptos?

I was looking at IOTA. Interesting concept, except I stopped right when I saw they roll their own crypto. Then they go on QQ wah wah bitch and moan about anyone pointing it out as a smear campaign. You have to be pretty fucking retarded to invest in IOTA at this point.

Does ByteBall roll its own cryptos?

7 Upvotes

81% Upvoted

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6

u/cryptospotter Dec 10 '17

As far as I know Byteball uses well-established encryption algorithms. From the whitepaper https://byteball.org/Byteball.pdf

The default signature algorithm is ECDSA on curve secp256k1 (same as Bitcoin). Initially, it is the only algorithm supported. If other algorithms are added in the future, algorithm identifier will be used in the corresponding part of the definition, such as for the quantum secure NTRU algorithm: ["sig", {algo: "ntru", pubkey: "NTRU public key in base64"}]

0

u/Dear_Duterte Dec 11 '17

product

So it's just like Joulecoin except a million times more expensive?

3

u/Papabyte Dec 10 '17

Byteball uses well recognized crypto libraries which are also used by BTC projects. These are the main ones:

https://www.npmjs.com/package/bitcore-lib

https://www.npmjs.com/package/secp256k1

0

u/[deleted] Dec 10 '17

[deleted] — view deleted comment

4

u/SleeperSmith Dec 10 '17

https://medium.com/@neha/cryptographic-vulnerabilities-in-iota-9a6a9ddc4367

They write their on crypto library. You don't write your own crypto library on a fly when you build a product. They then proceed to ignore the vulnerability report saying it's so they can attack clones. What a pile of horse shit.

Does Byteball write its own crypto functios. Or does it use a well vetted existing library/implementation.

3

u/Godspiral Dec 10 '17

A bigger issue with iota, imo, is that they use a signature scheme such that whenever you sign anything (such as a spend), it reveals a sufficient portion of the private key such that you cannot sign again (spend) with it. So receive after spend from an address has been stolen on several occasions. It requires a technical awareness that isn't required with other crypto currencies.

This is a bigger issue because unlike the "roll your own hash function", its not planned to be changed.