Author: Martin Sip 2014-05-19 13:34:05
Published on: 2014-05-19T13:34:05+00:00
In an email exchange, Martin Sip expressed his opinion that creating paper implementation of bitcoin sidechain is a difficult task that requires a secure and decentralized approach. He believed that resolving this problem would be a significant breakthrough similar to the creation of bitcoin itself. However, Alex Kotenko brought up a challenge related to protecting the notes from unauthorized redemption. He questioned how they could differentiate between deliberate redemption by the owner and fraudulent redemption by anyone else with a custom-built long-range NFC antenna. In response, Sergio mentioned the capacitive buttons on the firmcoin device that require pressing in sequence for redemption, which makes it impossible for any long-range antenna to do so. Sergio also added that the device has patents pending.
Updated on: 2023-06-08T22:50:06.856963+00:00