Rivetz and XYO Network Partner to Make Digital Asset Protection Safer
How Rivetz and XYO are Making Digital Asset Protection Safe, Easy and Secure
Any decent developer knows that challenge of creating a secure, airtight and virtually unhackable app that can be trusted to oversee payment transactions is no walk in the park. In fact, most of the time this will also involve locking down account passwords, keys and employing an assortment of digital shields meant to protect valuable parts of the user's personal and financial identity from hackers.
Most of the time, when we encounter such a fork down the programming road, then one of the two scenarios will occur;
For starters, either we will be forced to spend a gargantuan amount of money and time building our own security system for the app from scratch or have no choice but to pay through the nose for one of those numerous security services that promise airtight security but will not necessarily deliver it. If anything, the second option is worth as it ends up draining your working budget in the process without even solving anything in the process.
Fortunately, however, the inception of blockchain technology has given us a third and very crucial option. Thanks to the unique features that characterize the operating model of blockchain technology, it is possible to enforce it to manage the protection of user identity, payment processing and even be extended to personal consumer devices such as cell phones and PCs. And in case you're wondering how this is even possible, you will be delighted to know that the working principle behind this does not even involve the introduction of any new hardware or particular infrastructure. Instead, it is more or less just a way of hardening the existing hardware devices by implementing distributed ledger technology. In other words, you will kill two birds with one stone; secure your app's security ecosystem without having to build that tech on yourself.
A typical example of this is how Rivetz offers an SDK (Software Development Kit) whose main objective is to secure the client's digital assets, process their payments and shield their sensitive info from hackers. And it does this through the implementation of a special Trusted Execution Environment a.k.a TEE. This protects the private keys and other sensitive personal data from the main operating system of the mainframe device. At the same time, it will record all transactions while physically attesting their main intent on the major blockchain network.
What's more, Rivetz will enforce other associated applications to make use of the installed TEE to also protect the access of the client's private keys from hackers. Access to these and other related cybersecurity controls is often paid in advance using RvT tokens,
XYO, on the other hand, is tasked with providing proof of physical location necessary for the execution of location-sensitive transactions, for example, a deal involving the exchange of real estate property titles among others.