I tried to explain what 65537 is in comic strips.
I explained what 65537 is and how it will be used in a particular situation.
65537 is a starting point of the RSA public-key encryption value. RAS refers to Ron Rivet, Adi Shamir, and Lenord Adleman who described the algorithm in 1977. 65537 is a large enough number to start with yet provides security of such encryption. 65537 or F4 is a prime number of form 2^(2^n)+1 when n=4. The number is large enough without being computationally expensive with no advantage to security.
How RSA works
To set up RSA you need to do the following steps:
- Select two very large prime numbers p and q
- Compute n = pq and f(n) = (p-1)(q-1)
- Choose an encryption key e relatively prime to f(n)
- Calculate the decryption key d so that ed=1(mod(f(n)))
- Publish e and n and keep d, p, and q in secrete
Since e = 65537 and it is revealed to the public, there is no problem to compromise security. Also, e and n are components of the public key anyway. And d, p, and q are components of the private key.
How to Break RSA
Cracking an RSA below 128-bit prime numbers is pretty easy. The iteration of the guess prime number is fairly quick depending on your computational power. Nonetheless, modern RSA is likely to use 1024-bit or 2084-bit prime numbers to gear up its security. The method is called a chosen-plaintext attack or (CPA).
The process of such attack may involve:
- The attacker chooses n plaintexts
- The attacker sends n plaintexts to the encryption oracle
- The encryption oracle encrypt plaintexts
- The attacker receive response encrypt plaintexts and corresponds to each plaintext
- The attacker then attempts to extract the key between oracle encode
You can see that it is an iterative process and time-consuming but doable when prime numbers are lower value.
65537 is Too Small
The largest prime number yet to be discovered is 2^82,589,933-1 which has 24,862,048 digits. However, it does not make RSA more secure but less efficient. 65537 is good enough even though it is the largest number that seems small. But the algorithm depends on p, q large prime numbers rather than solely on the number e.
65537 is a magic number for RSA encryption. It is a common practice to use it as it is and it does not matter to reveal to the public as part of the public key component.
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Reddit NFT mints reach all-time high, EU’s $400K Metaverse party flops and more
Reddit’ NFT minting hits new high
Reddit’s nonfungible token (NFT) collection hit another milestone on Dec. 3 with a record 255,000 of its “avatars” minted in the one day.
The new minting record beat the previous all-time highs on Aug. 30 and 31, which saw just over 200,000 Reddit avatars minted each day.
The NFTs are primarily used on the social media platform as a users’ avatar and are created by a number of independent artists that use the platform.
At the time of the collection’s launch in July, it was widely seen as a way to boost mainstream adoption of blockchain technology as Reddit shied away from using crypto for purchases of the avatars and chose to call them digital “collectibles” instead of NFTs.
With the record mint day, Reddit’s Polygon (MATIC)-based NFTs now boast around 4.4 million in circulation, according to data from Dune Analytics.
However, despite the amounts minted, Dune data shows just over 40,000 Reddit avatar NFTs have been sold since their launch, and there are around 3.7 million holders of avatars indicating that most choose to hold onto their NFT.
The sales volume of the collectibles recently hit an all-time high of $2.5 million on Oct. 24 across 1,991 buyers.
Some of the rarer Reddit NFTs have seen premium prices on secondary NFT marketplaces such as OpenSea with some of the most expensive selling for over $300, while the platform’s own marketplace sees prices of around $50.
EU went all out on a Metaverse party, barely anyone came
The European Union’s (EU’s) foreign aid department is understood to have dished out nearly $408,000 (€387,000) on a metaverse and hosted a party on Nov. 29 to celebrate, but only six people reportedly turned up.
Devex reporter Vince Chadwick tweeted a video on Nov. 29 showing his metaverse avatar attending the “gala” and said “after initial bemused chats with the roughly five other humans who showed up, I am alone.”
I’m here at the “gala” concert in the EU foreign aid dept’s €387k metaverse (designed to attract non politically engaged 18-35 year olds — see story below). After initial bemused chats with the roughly five other humans who showed up, I am alone. https://t.co/ChIHeXasQP pic.twitter.com/kZWIVlKmhL
— Vince Chadwick (@vchadw) November 29, 2022
“Is anybody out there?” reads one of the messages on the screen in the video. “The concert is just the same DJ spinning the same music,” another message says.
The EU-crafted metaverse was made to promote it’s “Global Gateway” initiative that aims to develop and build infrastructure in developing nations.
The metaverse, seemingly also named “Global Gateway”, was quietly launched in mid-October with a “depressing and embarrassing” promotional video according to an anonymous EU foreign aid department staff member that spoke to Devex.
Discover the new #GlobalGateway digital platform – https://t.co/DHAdsfwbA1
— EU International Partnerships (@EU_Partnerships) October 13, 2022
According to an EU spokesperson the target audience for its metaverse is 18 to 35 year olds “who identify as neutral about the EU and are not particularly engaged in political issues,” and the promo video was “to intrigue that audience, primarily on TikTok and Instagram” and encourage them to engage with the campaign.
TimeX ‘Goes Ape’ with the BAYC
Watch manufacturer TimeX said on Dec. 1 it’s partnered with the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFT projects to create custom watches.
TimeX is creating 500 physical watches and matching “twin NFTs” that will allow Bored and Mutant Ape holders to customize a watch including its case, strap and etchings while, of course, featuring the owners’ NFT on the watch face.
We’re going bananas over the launch of our first customizable physical, digital and phygital timepiece in partnership with @CryptoVonDoom, @beijingdou, @Zeneca_33 @JulianGilliam, @TheMiamiApe, @TheeHustleHouse, @daz3d @Metabrands_pro and the @BoredApeYC community.
A Thread pic.twitter.com/sL2YPyNnwf
— Timex (@timex) December 1, 2022
The watches will be gated behind an NFT at the cost of 2 Ether (ETH), or around $2,500, with BAYC and MAYC holders then able to use the NFT to create a watch from mid-December that will ship in in the second quarter of 2023.
NFT sales increase for first time in 7 months
U.S. dollar-denominated NFT sales have managed to jump 16% in the month of November, bucking more than seven months of decline, according to data from Cryptoslam.
In November, NFT sales amounted to $534 million, up from October’s nearly $460.4 million.
It was the first month since April that NFT sales increased, January saw record NFT sales totaling $4.7 billion, while October was the slowest sales month in 2022.
Related: How NFT court summons could change the legal landscape
The increase in November is likely due to high-priced NFT sales, such as two BAYC NFTs that sold for close to $1 million each on Nov. 23 and 24.
Cryptoslam data shows over the past 30 days the top three NFT collections were BAYC, MAYC and Otherdeeds — all Yuga Labs-owned projects. The top BAYC collection has seen 30-day sales increase by 89.5% indicating that high-priced NFT sales could have driven November sales up.
Meanwhile, total transaction volume between October and November saw a 17.6% decrease.
More Nifty News
Internet browser Opera has created an NFT minting tool that allows users the ability to drag and drop media files into its application which will turn those files into NFTs by writing a smart contract and uploading them to a blockchain.
Coinbase has slammed Apple over the firm blocking the latest release of its crypto wallet app. Coinbase says Apple wanted it to disable NFT transactions until it could “collect 30% of the gas fee,” something Coinbase says is “clearly not possible” as Apple’s system “does not support crypto so we couldn’t comply even if we tried.”
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