Maxcoin is more secure than Bitcoin. This is beceause Maxcoin uses Keccak (SHA-3). But what is Keccak and why is this more secure?
Keccak is of the SHA-3 family, winning a 5-year long competition to create the successor or an alternative to SHA-2. Bitcoin uses SHA-256, a member of this SHA-2 family. Recently, the American National Institute of Standards and Technology (NIST) announced the selection of Keccak as the winner of the SHA-3 Cryptographic Hash Algorithm Competition. This concluded an open competition that was remarkable both for its magnitude and the involvement of the cryptographic community.
Public review is of paramount importance to increase the confidence in the new standard and to favor its quick adoption. The SHA-3 competition explicitly took this into account by giving open access to the candidate algorithms and everyone in the cryptographic community could try to break them, compare their performance, or simply give comments.
Although Keccak, as the SHA-3 standard, will coexist with the current standard SHA-2 hash function family, it is much more than just another "SHAxSUM" algorithm. Keccak relies at its core on a new construction, called the sponge construction, which allows for simpler and more flexible modes of use.
Watch the video with explantion of Keccak:
The video shows various examples on how current software designs can benefit from greater flexibility, e.g., for all the flavors of hashing, stream encryption, authentication, authenticated encryption and pseudo-random bit generation.
This video will also focus on the different aspects that make the design of Keccak open, from the open source implementations on various platforms to initiatives to keep encouraging third-party cryptanalysis, such as the KeccakTools cryptanalysis software and the Crunchy Crypto Collision and Pre-image Contest.
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