28 Oct '14, 12pm

BitPay Project Decentralises Networks with Bitcoin Technology via @coindesk

BitPay Project Decentralises Networks with Bitcoin Technology via @coindesk

BitPay took to the stage to announce an intriguing new project called Foxtrot at the San Francisco Bitcoin Developer Meetup yesterday. BitPay CEO Stephen Pair made the presentation, explaining that the open-source effort is designed as a simple, secure and decentralized communications network based on bitcoin cryptography. The company describes Foxtrot as a decentralized routing network that enables easy peer-to-peer (p2p) communications, with built-in mechanisms for peer discovery, creation of services addressable by public keys and establishing encrypted connections. Pair explained: “Foxtrot is a network that allows nodes to communicate with one another.” Enhanced security and privacy Like bitcoin , Foxtrot is based on elliptic curve cryptography and enables a trustless p2p network of nodes specifically for networking and communications. "This works in a very similar way...

Full article: http://www.coindesk.com/bitpay-project-aims-networks-bitc...

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