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The Cryptocurrencies Related to Cybersecurity That You Should Consider


Denis Goncharenko

All new technology has the potential to be hacked, and because cryptocurrencies have monetary value, hackers are more inclined to attack them. There are both advantages and disadvantages to the decentralization of the blockchain technology that underpins cryptos, which is why it's important to note that criminals may exploit new avenues of opportunity.

When it comes to storing cryptocurrency, you may use wallets just as you would with conventional money. The difference is that crypto wallets don't keep money, but rather the private keys that enable access to your coins. Coins are kept on the blockchain using wallets that give access to transmit or receive payments or exchange them. Many other types of cryptographic wallets exist, including paper-based ones, as well as hardware-based and online ones, but only the online ones enable you to keep track of your private keys, check the balance of your existing coins, trade, and make purchases with other cryptocurrencies. Personal information like name, address, phone number, email address, and so on is required in order to use the wallets, which makes them a prime target for hackers.

Investor-related hacker assaults are quite common, and analysts estimated that $14 billion in losses was incurred by crypto fraudsters in 2021. As a consequence, one of the most critical responses for these people is to take maximum security measures, and blockchain technology excels in this regard.

Many financial market participants nowadays are looking for ways to increase their own security and safeguard their money by purchasing cybersecurity crypto coins. As a result, it's intriguing to see which cryptocurrencies in the field of cybersecurity will be the most fascinating to watch in 2022.

CertiK

Formed in 2013, the cutting-edge cybersecurity company known as CTK has made it a mission to improve the global security and integrity of smart contracts and blockchain protocols.

The Security Oracle, which is tasked with providing real-time monitoring of on-chain transactions and alerting developers to potentially harmful flaws before they occur, is also said to provide security insights to blockchain projects across protocols.

Shentu Chain has recently replaced CertiK Chain, thus it's worth noting that this is a new name. In other words, if you see the term "Shentu Chain," it's just another name for CertiK Chain.

Quantstamp

Quantstamp, which was founded in 2017, is a smart contract security company that develops automated technologies and does human audits. Security audits are conducted by the company to verify that blockchain technologies are operating as intended. Cryptocurrencies can lower the danger of future hacks by boosting the security of smart contracts, therefore improving the reputation of blockchain initiatives that develop smart contracts.

In theory, the demand for auditors and security organizations has never been greater since blockchain and smart contracts have been historically vulnerable to attacks and the sector has grown to new values. Bad actors are estimated to have stolen more than $8 billion by manipulating the system. So far, the organization claims to have conducted 200 audits and safeguarded $200 billion in value, including Ethereum 2.0 and the Binance Smart Chain. Smart contract security may be examined using the Quantstamp protocol.

Ethereum has proven its security many times as a dapps platform. There is no doubt that Ethereum-based dapps and smart contracts may be hacked by malicious parties, regardless of how well-designed they are. The DAO breach, worth $55 million, and the Parity wallet issue, worth $30 million, are the two most notable examples. In addition to having an effect on the individuals whose property has been taken, these concerns erode public confidence in the whole system. As of right now, creating smart contracts is a really active endeavor. Like other PC software, the idea of a bug-free version is close to implausible. Smart contracts are being written at a pace that is surpassing the assets that are required to examine them (estimated to be 10 million before the year is through). Even with thorough security checks, a little issue might still go missed amid an overwhelming deluge.

HackenAI

In addition to protecting the user's digital assets, HackenAI encourages the user to learn about cybersecurity best practices.

According to Hacken, this is due to a lack of interest on the part of the general public. They believe it's not critical or time-sensitive. Many bottom-feeders really enjoy dealing with smaller people rather than the larger pots of wealth that are the primary focus of the world's most skilled hackers.

Why? Their complacency makes them ideal targets for abusers. However, the majority of consumers only seek aid from a professional after their system or account has been attacked or hacked. The CyberBootCamp is the first step toward a career in the cybersecurity industry. HAI tokens, which are among the crypto coins to buy. may be earned by completing the program even if the user has no prior knowledge of cybersecurity.

These modules include anti-phishing, privacy, data protection, and much more. They are all accessible via a single dashboard interface. Following the BootCamp, kids will have 99.9% protection against online attacks.

For those of you who have been involved in cryptocurrency trading for some time, 2FA is probably nothing new to you. All dangers and malpractices are tracked and alerted to users promptly using the Hacken platform, which uses blockchain and cybersecurity.

Passwords are used to protect user data. To further protect the information, it is encrypted while being sent through unprotected networks.


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