Sentinel Protocol Launches Interactive Cooperation Framework API for Crypto Security

Sentinel Protocol Launches Interactive Cooperation Framework API for Crypto Security

Sentinel Protocol, a platform that utilizes blockchain technology to protect cyberspace, has launched Interactive Cooperation Framework API in a bid for offer better security to the crypto industry. The firm intends to have a big impact in the crypto ecosystem by providing wallet services and cryptocurrency exchanges with ICF API for enhanced security.

As per Sentinel Protocol, the ICF API beta version will be deployed to interested parties by the end of October, and after evaluation and testing the main version will be made available in early 2019.

Speaking about the ICF API when it comes to solving threats that have been facing the cryptocurrency ecosystem, the Founder and CEO of Sentinel Protocol, Patrick Kim, said that:

“We are leveraging our experience and skills to assist exchanges in strengthening their Cybersecurity. It is essential to build a strong security ecosystem around each of the key stakeholders including crypto exchanges, wallets, payment providers, regulators, etc. At the moment, there is no way to stop hackers from transferring stolen funds through exchanges, either centralized or decentralized, which means stolen cryptos are irreversibly in the full possession of hackers. The ICF API will be able to block this malicious activity, restrict the flow of the stolen funds, and even help to return these crypto assets to their rightful owners.”

New API to Be Integrated With Financial Software Applications

According to Sentinel Protocol, the Interactive Cooperation Framework API is designed to be easily integrated with various financial software applications, protecting digital assets owned by exchanges and its clients from any malicious threats.

When it comes to functioning, the API is designed to allow a financial application to query the Threat Reputation Database (TRDB) by Sentinel Protocol, checking whether a particular Telegram ID, domain, URL, or wallet address is safe.

The TRDB then sends a response within milliseconds, confirming whether a transaction can be terminated or rejected, or allowed to go through if there’s no danger or risk identified.

Features of The ICF API

The ICF API comes with a number of features that allow clients to use it seamlessly. It incorporates a platform agnostic, which is designed to be used by any application, dApp, wallet, and exchange; an online access to security intelligence data; and a certified blacklist and whitelist of scams, phishing sites, domains with history of damaging malware, URLs, and wallet address.

Financial Services Firms Welcome The New API

Heads of various financial service firms have expressed their optimism in the Interactive Cooperation Framework API by Sentinel Protocol, saying that more solution to improve security are always welcome.

The Chairman of Regulus Investment and Capital Holdings Dr. David Nguyen said that the new API will help them add a solid security layer to safeguard their investment. He stated that:

“Protecting the users in the crypto space is one of the most important factors that contribute to the global adoption of blockchain and crypto industries. We at Regulus have invested heavily into crypto wallet and crypto exchanges and we definitely need more solutions to help improving our security in order to protect our customers. With the help of Sentinel Protocol's experts and the Interactive Cooperation Framework API offered by Sentinel Protocol , we strongly believe that will add a new strong layer of security shield to our investment.”

The co-founder and CEO of GDAC James Oh also weighed in, saying that his company is happy to implement the API beta version in a bid to make their exchange one of the safest in the world. In his own words, he said that:

“We are very pleased to implement the ICF API beta version to strengthen our customer protection by checking malicious addresses before crypto sending transaction. We have a strong trust on Sentinel team by their technical leadership in cyber security in crypto space and will definitely have close cooperation with them to make GDAC as one of the safest crypto currency exchange in the world.”

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide