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    Author Topic: List of physical cryptocurrencys and the mints who issue them  (Read 15102 times)
    JustJake
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    Numisalis - Physical Tradable Bitcoin


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    January 17, 2014, 05:21:00 PM
     #21


    Thanks for this it looks very interesting. Can you tell me more about how the Embedded NFC tag security will work? What data does it provide?

    Sure, the NFC tag will have the full public address and a confirmation code (10 alpha-numeric characters).  The full public address will be useful on its own because, as we currently see, FirstBits is non-operable on blockchain.info (unless they fixed that recently).

    The confirmation code will be generated by hashing the public address and performing some trade secret set of other data destructive algorithms to come up with the 10 character code.  Nothing fancy, just increasing entropy.  So my app will ping my server with the full public address and the confirmation code and the server will perform the transformations and verify that the code provided is the same as the code generated.  Once verified it will ping other services like blockchain.info and bitcoinaverages so you get a nice "one sheet" of validity and value for the coin.

    The security is mostly about verifying the coin is not a counterfeit but I put in a few more helpful functions.
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