Working Through Security Issues on Cryptocurrency Mining
Ever since the cryptocurrency industry gained the kind of mainstream attention that it has right now, the issue of security has always been a sticking point.
In more ways than one, those who are concerned about the security of crypto assets actually do have every right to be. Hacks on exchanges and other asset custodians are rampant, and it always seems like new reports of asset losses are being released on a weekly basis.
This year alone, it was estimated that the cryptocurrency industry would lose about $1.2 billion to hackers, while a separate report showed that up to $500 million in illegal Bitcoin had been spent this year already.
Of course, this isn’t especially surprising. Just as it is with pretty much every technological concept, cryptocurrencies have the propensity to be tampered with, and the security of all these asset custodians and their platforms might not always be up to standard.
The same goes for mining. Anyone who engages in the act of cryptocurrency mining will be able to testify to the fact that mining pools aren’t always safe. Malicious hackers could always get into the security infrastructure of these mining pools and cause untold damage, and it is important that pool operators keep their systems prepared for any eventuality.
However, the problem that a lot of people currently witness is that security isn’t always a given. It is essential that pool operators and mining facility managers keep their security systems up to code at all times, and there really is no allowance for errors.
This is what CryptoUniverse currently understands, and they perfectly prepare for any eventualities.
As an operator of a mining facility, CryptoUniverse has propelled itself to the forefront of the mining industry. However, apart from the seamless experience and ease of mining that they provide, one aspect that they’ve been able to improve on is in the aspect of security.
CryptoUniverse currently has about $700,000 in share capital, and in addition to that, the company bears full financial responsibility. CryptoUniverse owns the land and the buildings, which makes it independent from tenants and also forms a valuable part of its assets.
However, their commitment to ensuring the security of their users’ funds goes way beyond the steps that they’ve taken to provide insurance.
With these guys, you get full cover.
Fraud and Hack Protection
The issue of security, as stated earlier, is one that has always plagued the global cryptocurrency industry since the onset. However, CryptoUniverse brings some sense of safety, thanks to the implementation of state of the art security infrastructure.
To get things started, the company operates a top of the line firewall that helps prevent unwanted access from the outside.
With CryptoUniverse, you can rest assured of safety from hacker attacks DDoS threats, and much more. The company’s servers are audited on a monthly basis, so they ensure that they stay on top of any prospective issues.
CryptoUniverse also maintains a unified monitoring and security system, as well as a duplicate alert system. Their security and IT experts are on duty round the clock, and with their level of expertise, they see to it that threats are combated in real-time.
In addition to that, the company also has a very reliable policy for processing transactions, thanks to the presence of an automated algorithm.
Information storage has been found to be one of the most popular leakages through which hackers and nefarious people steal crypto assets. However, CryptoUniverse goes on to store encrypted private keys and confidential data on cold storage.
Cold wallets have been found to be much more secure than the traditional hot wallets, which are employed by Bitcoin wallets, cryptocurrency exchanges, and other asset custodians. With CryptoUniverse, whenever a person tries to withdraw money, the system initiates a behavioral analysis procedure, and each transaction is put through a manual audit process.
The truth is that these extensive security features increase the time taken for transactions to be completed. However, given the level of protection that it provides, longer transaction processing times is a bit of an acceptable trade-off.
For proof of its effectiveness, CryptoUniverse has not had a single disputable situation as regards funds withdrawals ever. The track record definitely shows a lot of promise.
So, as things stand, it is possible for a company within the mining industry to achieve sweeping, top of the line security. CryptoUniverse is championing that course, and they’re doing it in a spectacular way.
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