Methods to enhance security in a cryptocurrency exchange

As cryptocurrency exchanges continue to flourish across the globe, the chances of a lapse in security also multiply by many times. Platforms which compromise on security can attract the wrath of hackers who steal data and divert the user’s funds. This will affect the reputation of the exchange in the market. Here are some steps to maintain high-level security in a platform.

• Registry lock - It prevents unauthorized access to user’s accounts. Hackers will find it tough to decipher the strong framework as multiple layers of verification are in-built to protect the customer’s details. 

• Enhancing the security of web protocol -  The websites must be HTTPS enabled. It will help in protecting the content from plagiarism and safeguards users from scripting attacks originating from other sites 

• Utilizing hardware security modules - An external computing device can be used for backing up data using cryptography techniques. With more focus on security, it mitigates the chance of channel attacks. 

• Curb distributed denial of service attacks -  Malicious activities that hamper the network’s function with bugs is known as Distributed denial of service. Configuring exchanges by blocking outside DNS responses, and obstructing incoming ICMP packets will help in enhancing security. 

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