Cryptography is the practice of securing information using mathematical techniques to protect data from unauthorized access or alteration. In crypto, it is used to secure transactions, control the creation of new units, and verify ownership of digital assets. Common cryptographic tools include hash functions, digital signatures, and public-private key pairs. These mechanisms ensure data integrity, authenticity, and confidentiality on blockchain networks. Cryptography allows decentralized systems to operate without relying on a central authority. It matters in crypto because it forms the foundation of blockchain security and trust.
Coinbase has formed an independent advisory board of cryptography and quantum experts to evaluate long-term risks that quantum computing could pose to Bitcoin and blockchain security.
Hundreds of crypto wallets across EVM-compatible chains have been drained in an ongoing attack, with investigators yet to identify the root cause or point of compromise.