Cryptocurrency in Security Industry

Enhanced security has played a vital role in the cryptosphere in 2018. The present state of the market has necessitated a pressing need for more secure transactions. Accountability and increased security has become a central focus of transactions. Increases in market surveillance are imminent, and businesses that understand the importance of security are bound to succeed in the future.  

The design of cryptocurrencies with advanced encryption, decentralized framework, and irreversible transactions was set to render the system unhackable. However, this has not been the case as the system has become prone to security lapses and even human error. 

Security breaches against the owners of cryptocurrency have been increasing. 

• The bitcoin price appreciated from 1,000 to approximately 20,000 in 2017. Crimes in connection to bitcoin increased by nearly 200%

• 1 out of 10 cryptocurrency owners were at risk of being impacted by scams

• Cybercrime connected to Ethereum had the outcome of 30k owners/users being scammed

• 390 million US$ were the damages caused by cybercriminals

Coins/tokens need to be kept safe for the success of your crypto investments. 

Securing coins during trading and at home

• Investments should be isolated

• Secure yourself during cryptocurrency trade

• Taking on the challenges of cryptocurrency security

Firms are choosing smarter wallets, in addition to robust contracts utilizing deep-learning while deploying hot and cold techniques. While each option has its own advantages, many fall behind in scaling which is needed to become ubiquitous. Developing their proprietary wallet is presently the best option for crypto firms. This puts them in control of their currencies, transacting in the domain with ease.