Research reports
Long-form analysis with a stated method, cited sources and a revision history. Living documents: they are updated when the facts change.
The BIP-110 Chain Split
At block 961,632 on 8 August 2026, nodes enforcing BIP-110's mandatory-signaling rule rejected AntPool's non-signaling block and followed a rival block mined through OCEAN, splitting onto a minority chain backed by under 3% of hashrate. We reconstruct the proposal, the activation design and the split itself, quantify the fork chain's difficulty trap and replay risk, and track both chains live.
Weak Entropy in Coldcard Firmware
A build-configuration error shipped in March 2021 bound Coldcard seed generation to a software PRNG, cutting effective entropy to 40-72 bits. We reconstruct the root cause, reconcile the conflicting loss estimates published by Galaxy Research, TRM Labs and the trade press, map the exposure surface, and set the incident against fifteen years of entropy failures.