CryptoSecure has highlighted its breakthrough security Platform and the opportunities in the current cryptocurrency market:
The blockchain technology company says its platform will roll back months of meltdown experienced in the cryptocurrency market.
The market has been in meltdown phase and suffering from a major breakdown in investor trust and confidence. The resultant continuing sell-off this year has wiped out over 75% ($600 billion) of the industry’s market cap in the six months since its January peak to its current $240 billion value.
According to Cryptosecure some of the issues bedeviling the market include insecurity, theft and scams, failure rate, technology barrier and market repercussion.
On the security front, cryptocurrencies have not been free from theft, fraud, operational risks and especially cybercrime at the individual transaction level as well as the system as a whole. This has led to over $2 billion in losses through major crypto hacks with thousands more unreported thefts from individual wallets.
There is also the high attrition rate and cost to investors of failed cryptocurrencies. Over 1,000 disappeared over the past 18 months (see: deadcoin.com) and many others vanished during their funding rounds.
Tecnologically, they noted that crytocurrencies are still battling with issues of scalability, stability of value and trust in payment finality. This is why the market is currently flooded with more sellers than buyers.
The Cryptosecure Solution
CryptoSecure says its platform delivers unprecedented breakthrough security at an individual transactional level and through the entire system infrastructure. Its operational network management and control meets all 20 of the SANS Critical Security Controls and dramatically de-risks token theft, fraud, operational risks and cybercrime threats. The core security components being integrated into the cryptocurrency industry’s only ultra-secure operational system environment include:
Token Security – All Platform issued tokens are ultra-secure and will be replaced if hacked and stolen.
ICO and Issuer Security – Is conducted through seamless KYC/AML process within the Platform system environment with no risk of any tokens being stolen.
Wallet Security – CryptoSecure multi-asset wallets are at a minimum protected through 3-Factor identity and authorization process incorporating seamless KYC/AML
Exchange Security – The CryptoSecure Exchange will be totally secure, KYC/AML compliant and regulated.
Transactional Security – All transactions are seamlessly and in real-time Proof of Identity, Authority and Stake validated and authorized through a minimum 100 distributed ledger nodes with all cryptocurrency token balances recorded on the blockchain.
Scalability – The CryptoSecure Platform operates in real-time and can process thousands of transactions per second. The ultra-secure CryptoSecure network operates with micro-second latency and at 20x the efficiency, 10,000x the network speed of comparable current market network systems.
Individual Security – All KYC/AML detail is used exclusively to assure compliance and transactional Identity, Authority and Stake. No information is openly shared and the rights to individual privacy is respected and protected.
Operational Security – All CryptoSecure operations are processed through CryptoSecure servers and data centers that are protected by jentu Technologies network management and security. In basic terms, this provides for all the system endpoints that are connected to the CryptoSecure servers to be operating without hard disks. With no hard disks there is nowhere for hackers to hack.
This CryptoSecure Platform security is being provided through CryptoSecure unique technology that is subject to patenting process. This security is integrated with partnered industry proven developments by preCharge which has been using distributed ledger technology in securely processing multi-billions of dollars in transactions since 2007; jentu Technologies breakthrough network management and security systems; development by the 40 plus CryptoSecure team of programmers and engineers; and the Key Capital (OTCPink:KCPC) Fintech division which is working on added security layers.