CryptoSIM Labs Releases COSMIC Trio At COSMIC3.io For Crypto Payment Security
COSMIC3.io, A Newly Launched Product of CryptoSIM Labs To Make Crypto Transactions More Secure
CryptoSIM labs have launched a new product, COSMIC3.io – a trio product aimed at giving crypto users more secure transactions. The newly launched product is to make cryptocurrency space more secure.
Security of Cryptocurrency Holdings and Transactions
Cryptocurrency has become a part of the human society, though the industry is still nascent. The sector is prospectively considered to replace the traditional financial system and fiat currency in the coming years.
However, at the moment, the industry is being plagued with the issues of security of cryptocurrency holdings, storage, and use. Exchanges are vulnerable, likewise cryptocurrency wallets. The only security available is the use of cold storages to keep access to crypto holdings offline. However, cold storage still has its deficiencies, that makes it vulnerable.
Solving the menace of security of cryptocurrency holding has led to the invention of COSMIC3.io by the CryptoSIM labs.
COSMIC3.io, Solutions To Security of Cryptocurrency Transactions
COSMIC3.io, launched by CryptoSIM labs is to offer a solution to the menace of cryptocurrency security.
The goal of increasing the mass adoption of cryptocurrencies has led CryptoSIM labs to create a secure authorization platform to anyone that owns a mobile device, which makes storage and transaction of digital currency more safer.
This blockchain solution is bringing a viable solution to the menace of security in the space, considering the widespread use of mobile devices and the numbers of cryptocurrency holders and traders in the world today.
The first version of the COSMOC3.io recently launched offers blockchain technology, Software Developer’s Kit (SDK) for Trusted Applications, and Subscriber Identity Module (SIM) Card.
Practical Byzantine Fault Tolerant for consensus was employed for the blockchain of COSMIC3.io. This uses the existing telecommunication networks to aid security of cryptocurrency.
Also, the SDK gives a reliable layer for mobile apps and dapps to allow users to view and transact with digital assets very securely.
Further, the SIM card is a secure hardware layer that enables three purposes. These are storage of digital asset, existing as authorization mechanism for trusted application transaction, and aid account recovery process.
COSMIC.io is a project of CryptoSIM labs limited considered to be the most reliable and secure solution for storing digital assets on mobile devices.
The project was founded in 2018 with the mission to simplify the security and trust factors associated with existing cryptocurrency solutions. The firm is backed by Zingmobile Group, a leading mobile technology enabler in the Asia Pacific.