Summertime is the season for traveling circuses and local fairs, so I shouldn't be surprised that this carnival atmosphere has spread to security. A company named Permanent Privacy just announced a $1 million prize to the person who can crack its algorithm and uncover the underlying encryption keys.
Now I realize there is some history here. In January 1999, a group of academics cracked the 56-bit Data Encryption Standard in just over 22 hours and won a prize of $10,000. That said, I am not a big fan of security showmanship like this from unknown security start-ups.
Why? … Read more