One of the many goals in the invention of cryptocurrency (CC) was to create a secure digital transaction system. The technology used was, and still is, Blockchain. Blockchain systems have been designed to be immune to problems common in online financial systems that use older technology – problems like account hacking, fake payment authentication and phishing scams on websites.
The blockchain itself operates on peer-to-peer global ledgers (distributed ledgers) that are secure, cheap and reliable. Records of transactions around the world are stored on blockchain networks, and because these records are distributed throughout the user community, the data is inherently tamper-proof. No piece of data can be changed without changing every other block in the network, which would require the collusion of the majority of the entire network – millions of observers. BUT – what if a website looks like it’s providing you with a gateway to a legitimate cryptocurrency exchange or crypto wallet product, but is the website really designed to get you to disclose information? You don’t have Blockchain security at all – you’re just another phishing scam that needs to be protected against.
MetaCert is a company that claims to be focused on keeping Internet users safe, and their core security product can be used to protect businesses from a range of malicious threats, and now they have a product designed to keep CC enthusiasts safe. This new product is called “Cryptonite” and is designed to be installed as a browser add-on. Modern browsers rely on SSL certificates, which show users a small padlock in the browser’s address bar. For years, users have been told that SSL certificates assure you of the authenticity of a website – not so fast – phishing sites also use SSL certificates, so users can be tricked into thinking a website is legitimate when it isn’t. Once added to your web browser, Cryptonite will display a shield next to the address bar. This shield will change from black to green when the website is deemed “safe”. MetaCert claims they have the world’s most advanced threat intelligence system with the world’s largest databases of secret URLs for security.
Staying safe is always a good thing, but the future may require more secure products as technology moves forward at an ever-increasing rate. On the horizon is quantum computing (QC), which shows great promise. QC is being touted by many as one of the biggest technological revolutions of our time. By harnessing the power of quantum mechanics, quality control machines will be able to take on much more complex tasks and reach previously unattainable speeds. Traditional computers are based on a binary model using a system of switches that can be turned on or off, represented by the numbers 1 or 0. QCs differ in that their switches can be on and off at the same time, called “superpositions.” This ability to be in two simultaneous states is what makes KK so much faster. More than two years ago, Google announced that the quantum prototype they own is 100 million times faster than any other computer in their lab. The development of this technology is advancing at an increasingly rapid pace. The first quantum computer to hit the market was produced in 2011 by California-based D-Wave. The D-Wave machine was equipped with a processor containing 16 quantum computing units called QUBITS. Since then, industry leaders such as IBM and Microsoft have announced their own quantum programs. This trend will exponentially increase the number of QUBITS that these new machines can process over the next few years. While quantum computing holds the potential for significant advancements in many fields and to provide innovative solutions to some of the most challenging problems, it will undoubtedly create a need for improved security as these machines will also be able to aid hackers in their nefarious activities. affairs. Protection and security will always be necessary in the cryptocurrency sphere, as in all other online spaces.
Stay tuned for updates!