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Crypto-Powered - The Most Promising Use-Cases of Decentralized Finance (DeFi)

Crypto-Powered - The Most Promising Use-Cases of Decentralized Finance (DeFi)
A whirlwind tour of Defi, paying close attention to protocols that we’re leveraging at Genesis Block.
https://reddit.com/link/hrrt21/video/cvjh5rrh12b51/player
This is the third post of Crypto-Powered — a new series that examines what it means for Genesis Block to be a digital bank that’s powered by crypto, blockchain, and decentralized protocols.
Last week we explored how building on legacy finance is a fool’s errand. The future of money belongs to those who build with crypto and blockchain at their core. We also started down the crypto rabbit hole, introducing Bitcoin, Ethereum, and DeFi (decentralized finance). That post is required reading if you hope to glean any value from the rest of this series.
97% of all activity on Ethereum in the last quarter has been DeFi-related. The total value sitting inside DeFi protocols is roughly $2B — double what it was a month ago. The explosive growth cannot be ignored. All signs suggest that Ethereum & DeFi are a Match Made in Heaven, and both on their way to finding strong product/market fit.
So in this post, we’re doing a whirlwind tour of DeFi. We look at specific examples and use-cases already in the wild and seeing strong growth. And we pay close attention to protocols that Genesis Block is integrating with. Alright, let’s dive in.

Stablecoins

Stablecoins are exactly what they sound like: cryptocurrencies that are stable. They are not meant to be volatile (like Bitcoin). These assets attempt to peg their price to some external reference (eg. USD or Gold). A non-volatile crypto asset can be incredibly useful for things like merchant payments, cross-border transfers, or storing wealth — becoming your own bank but without the stress of constant price volatility.
There are major governments and central banks that are experimenting with or soon launching their own stablecoins like China with their digital yuan and the US Federal Reserve with their digital dollar. There are also major corporations working in this area like JP Morgan with their JPM Coin, and of course Facebook with their Libra Project.
Stablecoin activity has grown 800% in the last year, with $290B of transaction volume (funds moving on-chain).
The most popular USD-pegged stablecoins include:
  1. Tether ($10B): It’s especially popular in Asia. It’s backed by USD in a bank account. But given their lack of transparency and past controversies, they generally aren’t trusted as much in the West.
  2. USDC ($1B): This is the most reputable USD-backed stablecoin, at least in the West. It was created by Coinbase & Circle, both well-regarded crypto companies. They’ve been very open and transparent with their audits and bank records.
  3. DAI ($189M): This is backed by other crypto assets — not USD in a bank account. This was arguably the first true DeFi protocol. The big benefit is that it’s more decentralized — it’s not controlled by any single organization. The downside is that the assets backing it can be volatile crypto assets (though it has mechanisms in place to mitigate that risk).
Other notable USD-backed stablecoins include PAX, TrueUSD, Binance USD, and Gemini Dollar.
tablecoins are playing an increasingly important role in the world of DeFi. In a way, they serve as common pipes & bridges between the various protocols.
https://preview.redd.it/v9ki2qro12b51.png?width=700&format=png&auto=webp&s=dbf591b122fc4b3d83b381389145b88e2505b51d

Lending & Borrowing

Three of the top five DeFi protocols relate to lending & borrowing. These popular lending protocols look very similar to traditional money markets. Users who want to earn interest/yield can deposit (lend) their funds into a pool of liquidity. Because it behaves similarly to traditional money markets, their funds are not locked, they can withdraw at any time. It’s highly liquid.
Borrowers can tap into this pool of liquidity and take out loans. Interest rates depend on the utilization rate of the pool — how much of the deposits in the pool have already been borrowed. Supply & demand. Thus, interest rates are variable and borrowers can pay their loans back at any time.
So, who decides how much a borrower can take? What’s the process like? Are there credit checks? How is credit-worthiness determined?
These protocols are decentralized, borderless, permissionless. The people participating in these markets are from all over the world. There is no simple way to verify identity or check credit history. So none of that happens.
Credit-worthiness is determined simply by how much crypto collateral the borrower puts into the protocol. For example, if a user wants to borrow $5k of USDC, then they’ll need to deposit $10k of BTC or ETH. The exact amount of collateral depends on the rules of the protocol — usually the more liquid the collateral asset, the more borrowing power the user can receive.
The most prominent lending protocols include Compound, Aave, Maker, and Atomic Loans. Recently, Compound has seen meteoric growth with the introduction of their COMP token — a token used to incentivize and reward participants of the protocol. There’s almost $1B in outstanding debt in the Compound protocol. Mainframe is also working on an exciting protocol in this area and the latest iteration of their white paper should be coming out soon.
There is very little economic risk to these protocols because all loans are overcollateralized.
I repeat, all loans are overcollateralized. If the value of the collateral depreciates significantly due to price volatility, there are sophisticated liquidation systems to ensure the loan always gets paid back.
https://preview.redd.it/rru5fykv12b51.png?width=700&format=png&auto=webp&s=620679dd84fca098a042051c7e7e1697be8dd259

Investments

Buying, selling, and trading crypto assets is certainly one form of investing (though not for the faint of heart). But there are now DeFi protocols to facilitate making and managing traditional-style investments.
Through DeFi, you can invest in Gold. You can invest in stocks like Amazon and Apple. You can short Tesla. You can access the S&P 500. This is done through crypto-based synthetics — which gives users exposure to assets without needing to hold or own the underlying asset. This is all possible with protocols like UMA, Synthetix, or Market protocol.
Maybe your style of investing is more passive. With PoolTogether , you can participate in a no-loss lottery.
Maybe you’re an advanced trader and want to trade options or futures. You can do that with DeFi protocols like Convexity, Futureswap, and dYdX. Maybe you live on the wild side and trade on margin or leverage, you can do that with protocols like Fulcrum, Nuo, and DDEX. Or maybe you’re a degenerate gambler and want to bet against Trump in the upcoming election, you can do that on Augur.
And there are plenty of DeFi protocols to help with crypto investing. You could use Set Protocol if you need automated trading strategies. You could use Melonport if you’re an asset manager. You could use Balancer to automatically rebalance your portfolio.
With as little as $1, people all over the world can have access to the same investment opportunities and tools that used to be reserved for only the wealthy, or those lucky enough to be born in the right country.
You can start to imagine how services like Etrade, TD Ameritrade, Schwab, and even Robinhood could be massively disrupted by a crypto-native company that builds with these types of protocols at their foundation.
https://preview.redd.it/agco8msx12b51.png?width=700&format=png&auto=webp&s=3bbb595f9ecc84758d276dbf82bc5ddd9e329ff8

Insurance

As mentioned in our previous post, there are near-infinite applications one can build on Ethereum. As a result, sometimes the code doesn’t work as expected. Bugs get through, it breaks. We’re still early in our industry. The tools, frameworks, and best practices are all still being established. Things can go wrong.
Sometimes the application just gets in a weird or bad state where funds can’t be recovered — like with what happened with Parity where $280M got frozen (yes, I lost some money in that). Sometimes, there are hackers who discover a vulnerability in the code and maliciously steal funds — like how dForce lost $25M a few months ago, or how The DAO lost $50M a few years ago. And sometimes the system works as designed, but the economic model behind it is flawed, so a clever user takes advantage of the system— like what recently happened with Balancer where they lost $500k.
There are a lot of risks when interacting with smart contracts and decentralized applications — especially for ones that haven’t stood the test of time. This is why insurance is such an important development in DeFi.
Insurance will be an essential component in helping this technology reach the masses.
Two protocols that are leading the way on DeFi insurance are Nexus Mutual and Opyn. Though they are both still just getting started, many people are already using them. And we’re excited to start working with them at Genesis Block.
https://preview.redd.it/wf1xvq3z12b51.png?width=700&format=png&auto=webp&s=70db1e9587f57d0c470a4f9f4523c216929e1876

Exchanges & Liquidity

Decentralized Exchanges (DEX) were one of the first and most developed categories in DeFi. A DEX allows a user to easily exchange one crypto asset for another crypto asset — but without needing to sign up for an account, verify identity, etc. It’s all via decentralized protocols.
Within the first 5 months of 2020, the top 7 DEX already achieved the 2019 trading volume. That was $2.5B. DeFi is fueling a lot of this growth.
https://preview.redd.it/1dwvq4e022b51.png?width=700&format=png&auto=webp&s=97a3d756f60239cd147031eb95fc2a981db55943
There are many different flavors of DEX. Some of the early ones included 0x, IDEX, and EtherDelta — all of which had a traditional order book model where buyers are matched with sellers.
Another flavor is the pooled liquidity approach where the price is determined algorithmically based on how much liquidity there is and how much the user wants to buy. This is known as an AMM (Automated Market Maker) — Uniswap and Bancor were early leaders here. Though lately, Balancer has seen incredible growth due mostly to their strong incentives for participation — similar to Compound.
There are some DEXs that are more specialized — for example, Curve and mStable focus mostly only stablecoins. Because of the proliferation of these decentralized exchanges, there are now aggregators that combine and connect the liquidity of many sources. Those include Kyber, Totle, 1Inch, and Dex.ag.
These decentralized exchanges are becoming more and more connected to DeFi because they provide an opportunity for yield and earning interest.
Users can earn passive income by supplying liquidity to these markets. It usually comes in the form of sharing transaction fee revenue (Uniswap) or token rewards (Balancer).
https://preview.redd.it/wrug6lg222b51.png?width=700&format=png&auto=webp&s=9c47a3f2e01426ca87d84b92c1e914db39ff773f

Payments

As it relates to making payments, much of the world is still stuck on plastic cards. We’re grateful to partner with Visa and launch the Genesis Block debit card… but we still don’t believe that's the future of payments. We see that as an important bridge between the past (legacy finance) and the future (crypto).
Our first post in this series shared more on why legacy finance is broken. We talked about the countless unnecessary middle-men on every card swipe (merchant, acquiring bank, processor, card network, issuing bank). We talked about the slow settlement times.
The future of payments will be much better. Yes, it’ll be from a mobile phone and the user experience will be similar to ApplePay (NFC) or WePay (QR Code).
But more importantly, the underlying assets being moved/exchanged will all be crypto — digital, permissionless, and open source.
Someone making a payment at the grocery store check-out line will be able to open up Genesis Block, use contactless tech or scan a QR code, and instantly pay for their goods. All using crypto. Likely a stablecoin. Settlement will be instant. All the middlemen getting their pound of flesh will be disintermediated. The merchant can make more and the user can spend less. Blockchain FTW!
Now let’s talk about a few projects working in this area. The xDai Burner Wallet experience was incredible at the ETHDenver event a few years ago, but that speed came at the expense of full decentralization (can it be censored or shut down?). Of course, Facebook’s Libra wants to become the new standard for global payments, but many are afraid to give Facebook that much control (newsflash: it isn’t very decentralized).
Bitcoin is decentralized… but it’s slow and volatile. There are strong projects like Lightning Network (Zap example) that are still trying to make it happen. Projects like Connext and OmiseGo are trying to help bring payments to Ethereum. The Flexa project is leveraging the gift card rails, which is a nice hack to leverage existing pipes. And if ETH 2.0 is as fast as they say it will be, then the future of payments could just be a stablecoin like DAI (a token on Ethereum).
In a way, being able to spend crypto on daily expenses is the holy grail of use-cases. It’s still early. It hasn’t yet been solved. But once we achieve this, then we can ultimately and finally say goodbye to the legacy banking & finance world. Employees can be paid in crypto. Employees can spend in crypto. It changes everything.
Legacy finance is hanging on by a thread, and it’s this use-case that they are still clinging to. Once solved, DeFi domination will be complete.
https://preview.redd.it/svft1ce422b51.png?width=700&format=png&auto=webp&s=9a6afc9e9339a3fec29ee2ae743c07c3042ea4ce

Impact on Genesis Block

At Genesis Block, we’re excited to leverage these protocols and take this incredible technology to the world. Many of these protocols are already deeply integrated with our product. In fact, many are essential. The masses won’t know (or care about) what Tether, USDC, or DAI is. They think in dollars, euros, pounds and pesos. So while the user sees their local currency in the app, the underlying technology is all leveraging stablecoins. It’s all on “crypto rails.”
https://preview.redd.it/jajzttr622b51.png?width=700&format=png&auto=webp&s=fcf55cea1216a1d2fcc3bf327858b009965f9bf8
When users deposit assets into their Genesis Block account, they expect to earn interest. They expect that money to grow. We leverage many of these low-risk lending/exchange DeFi protocols. We lend into decentralized money markets like Compound — where all loans are overcollateralized. Or we supply liquidity to AMM exchanges like Balancer. This allows us to earn interest and generate yield for our depositors. We’re the experts so our users don’t need to be.
We haven’t yet integrated with any of the insurance or investment protocols — but we certainly plan on it. Our infrastructure is built with blockchain technology at the heart and our system is extensible — we’re ready to add assets and protocols when we feel they are ready, safe, secure, and stable. Many of these protocols are still in the experimental phase. It’s still early.
At Genesis Block we’re excited to continue to be at the frontlines of this incredible, innovative, technological revolution called DeFi.
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None of these powerful DeFi protocols will be replacing Robinhood, SoFi, or Venmo anytime soon. They never will. They aren’t meant to! We’ve discussed this before, these are low-level protocols that need killer applications, like Genesis Block.
So now that we’ve gone a little deeper down the rabbit hole and we’ve done this whirlwind tour of DeFi, the natural next question is: why?
Why does any of it matter?
Most of these financial services that DeFi offers already exist in the real world. So why does it need to be on a blockchain? Why does it need to be decentralized? What new value is unlocked? Next post, we answer these important questions.
To look at more projects in DeFi, check out DeFi Prime, DeFi Pulse, or Consensys.
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submitted by mickhagen to genesisblockhq [link] [comments]

You think only Ali has Agents of SHIELD? A higher level of security is here

You think only Ali has Agents of SHIELD? A higher level of security is here

On May 8th, according to the official announcement of Binance, the Binance exchange discovered a large-scale security vulnerability, and the hacker was able to obtain a large number of user API keys, 2FA codes and other possible information to steal the token assets. At 17:15:24 on May 7, the hacker stole 7,000 bitcoins from the coin-hot payment system at block height 575012.

https://preview.redd.it/6nuzch81lst31.png?width=692&format=png&auto=webp&s=0e5fbdc437e21a56e0c6ad14179263493ff44c46
After the theft of the coin, BNB fell 5% in half an hour and quickly fell below $20. Then Binance announced that, due to security vulnerabilities, Binance will take about one week to conduct a thorough security check, during which time the recharge and withdrawal will be suspended to ensure that the trading market is not affected.
Although Binance announced that the "SAFU Fund" will be used to fully bear the full loss of this attack, no user has any losses, but the impact of user panic caused by the coin theft incident cannot be eliminated in a short period of time.
Faced with the frequent occurrence of coin theft in trading platforms, people can't help but ask why Alipay will not be hacked by hackers.
According to relevant statistics, more than 400 million users use Alipay in China, and the total amount of user assets is immeasurable. This number should be more attractive for hackers, but why is Alipay not hacked?
According to the reason spread on the Internet, the reason why we can use Alipay with peace of mind is because Alipay has a department like Agents of SHIELD. In other words, it is not that hackers do not want to attack Alipay, but they do not have the ability to attack. It is said that the "Agents of SHIELD" will recruit hackers who attack Alibaba. If the hacker can break through the firewall, they will ask the hacker to work in Ali, offering a very generous salary. In addition, even if the last line of defense of the Alipay system was also broken, it was proposed that the transfer network was strictly regulated by the legal currency, which could not be taken away, and could be traced and lead to jail.
For hackers, attacking Alipay is a very unwise choice, not to mention the high level of difficulty, but also to bear the high risk. Compared with the attack Alipay, hacking the token trading platform in the black blockchain field is much easier. As long as there is a loophole in the token trading platform, it gives the hacker a chance. Due to the anonymity of the blockchain transaction, the assets of the trading platform can hardly be recovered after it is lost.
So for hackers, some trading platforms are comparable to "ATMs."
Nowadays, the popular exchanges are still in the development stage of centralization, and the incident of coin theft is almost inevitable. In addition to being attacked by hackers, the situation of inside job of the trading platform has also occurred from time to time. Then, how should the asset security of the token holders be maintained?
The emergence of the new digital payment system TarK payment system provides a new idea for solving the problem. The TarK payment system is a decentralized payment system developed and based on the fourth generation of blockchain technology. In addition to storing the token assets, it also supports payments of all token assets and cross-chain transactions. Tark combines two major features of anonymity and security, as well as six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification, and open third-party ecosystem.
Today we are going to emphasize the security protection advantages of the TarK payment system. Tark payment system is the world's first dual-form cold payment system security protection model. It introduces the top technology innovation and multi-person collaborative management function of Silicon Valley in the United States, which greatly reduces the safety factor of users’token asset and can escort the user's token assets!
In addition, Tark payment system will automatically open the never networking mode during idle use, build transactions and signatures at cold end, conect the network and broadcast transactions at hot end, to create a solid protection shield for the token assets, completely eradicate network hacking and resist asset risk caused by various reasons.
TarK payment system provides you with stronger security protection than “Ali’s Agents of SHIELD”, so you can stay away from the coin theft of centralized trading platform!
Download link of Tark payment system: http://www.tarkwallet.com/download/down.html
submitted by gswt to u/gswt [link] [comments]

You think only Ali has Agents of SHIELD? A higher level of security is here

You think only Ali has Agents of SHIELD? A higher level of security is here

On May 8th, according to the official announcement of Binance, the Binance exchange discovered a large-scale security vulnerability, and the hacker was able to obtain a large number of user API keys, 2FA codes and other possible information to steal the token assets. At 17:15:24 on May 7, the hacker stole 7,000 bitcoins from the coin-hot payment system at block height 575012.

https://preview.redd.it/ygd0hknb39n31.png?width=692&format=png&auto=webp&s=f40bb67e2c08f6b58877af3b80daae6b992f94c5
After the theft of the coin, BNB fell 5% in half an hour and quickly fell below $20. Then Binance announced that, due to security vulnerabilities, Binance will take about one week to conduct a thorough security check, during which time the recharge and withdrawal will be suspended to ensure that the trading market is not affected.
Although Binance announced that the "SAFU Fund" will be used to fully bear the full loss of this attack, no user has any losses, but the impact of user panic caused by the coin theft incident cannot be eliminated in a short period of time.
Faced with the frequent occurrence of coin theft in trading platforms, people can't help but ask why Alipay will not be hacked by hackers.
According to relevant statistics, more than 400 million users use Alipay in China, and the total amount of user assets is immeasurable. This number should be more attractive for hackers, but why is Alipay not hacked?
According to the reason spread on the Internet, the reason why we can use Alipay with peace of mind is because Alipay has a department like Agents of SHIELD. In other words, it is not that hackers do not want to attack Alipay, but they do not have the ability to attack. It is said that the "Agents of SHIELD" will recruit hackers who attack Alibaba. If the hacker can break through the firewall, they will ask the hacker to work in Ali, offering a very generous salary. In addition, even if the last line of defense of the Alipay system was also broken, it was proposed that the transfer network was strictly regulated by the legal currency, which could not be taken away, and could be traced and lead to jail.
For hackers, attacking Alipay is a very unwise choice, not to mention the high level of difficulty, but also to bear the high risk. Compared with the attack Alipay, hacking the token trading platform in the black blockchain field is much easier. As long as there is a loophole in the token trading platform, it gives the hacker a chance. Due to the anonymity of the blockchain transaction, the assets of the trading platform can hardly be recovered after it is lost.
So for hackers, some trading platforms are comparable to "ATMs."
Nowadays, the popular exchanges are still in the development stage of centralization, and the incident of coin theft is almost inevitable. In addition to being attacked by hackers, the situation of inside job of the trading platform has also occurred from time to time. Then, how should the asset security of the token holders be maintained?
The emergence of the new digital payment system TarK payment system provides a new idea for solving the problem. The TarK payment system is a decentralized payment system developed and based on the fourth generation of blockchain technology. In addition to storing the token assets, it also supports payments of all token assets and cross-chain transactions. Tark combines two major features of anonymity and security, as well as six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification, and open third-party ecosystem.
Today we are going to emphasize the security protection advantages of the TarK payment system. Tark payment system is the world's first dual-form cold payment system security protection model. It introduces the top technology innovation and multi-person collaborative management function of Silicon Valley in the United States, which greatly reduces the safety factor of users’token asset and can escort the user's token assets!
In addition, Tark payment system will automatically open the never networking mode during idle use, build transactions and signatures at cold end, conect the network and broadcast transactions at hot end, to create a solid protection shield for the token assets, completely eradicate network hacking and resist asset risk caused by various reasons.
TarK payment system provides you with stronger security protection than “Ali’s Agents of SHIELD”, so you can stay away from the coin theft of centralized trading platform!
Download link of Tark payment system: http://www.tarkwallet.com/download/down.html
submitted by gswt to u/gswt [link] [comments]

You think only Ali has Agents of SHIELD? A higher level of security is here


On May 8th, according to the official announcement of Binance, the Binance exchange discovered a large-scale security vulnerability, and the hacker was able to obtain a large number of user API keys, 2FA codes and other possible information to steal the token assets. At 17:15:24 on May 7, the hacker stole 7,000 bitcoins from the coin-hot payment system at block height 575012.
After the theft of the coin, BNB fell 5% in half an hour and quickly fell below $20. Then Binance announced that, due to security vulnerabilities, Binance will take about one week to conduct a thorough security check, during which time the recharge and withdrawal will be suspended to ensure that the trading market is not affected.
Although Binance announced that the "SAFU Fund" will be used to fully bear the full loss of this attack, no user has any losses, but the impact of user panic caused by the coin theft incident cannot be eliminated in a short period of time.
Faced with the frequent occurrence of coin theft in trading platforms, people can't help but ask why Alipay will not be hacked by hackers.
According to relevant statistics, more than 400 million users use Alipay in China, and the total amount of user assets is immeasurable. This number should be more attractive for hackers, but why is Alipay not hacked?
According to the reason spread on the Internet, the reason why we can use Alipay with peace of mind is because Alipay has a department like Agents of SHIELD. In other words, it is not that hackers do not want to attack Alipay, but they do not have the ability to attack. It is said that the "Agents of SHIELD" will recruit hackers who attack Alibaba. If the hacker can break through the firewall, they will ask the hacker to work in Ali, offering a very generous salary. In addition, even if the last line of defense of the Alipay system was also broken, it was proposed that the transfer network was strictly regulated by the legal currency, which could not be taken away, and could be traced and lead to jail.
For hackers, attacking Alipay is a very unwise choice, not to mention the high level of difficulty, but also to bear the high risk. Compared with the attack Alipay, hacking the token trading platform in the black blockchain field is much easier. As long as there is a loophole in the token trading platform, it gives the hacker a chance. Due to the anonymity of the blockchain transaction, the assets of the trading platform can hardly be recovered after it is lost.
So for hackers, some trading platforms are comparable to "ATMs."
Nowadays, the popular exchanges are still in the development stage of centralization, and the incident of coin theft is almost inevitable. In addition to being attacked by hackers, the situation of inside job of the trading platform has also occurred from time to time. Then, how should the asset security of the token holders be maintained?
The emergence of the new digital payment system TarK payment system provides a new idea for solving the problem. The TarK payment system is a decentralized payment system developed and based on the fourth generation of blockchain technology. In addition to storing the token assets, it also supports payments of all token assets and cross-chain transactions. Tark combines two major features of anonymity and security, as well as six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification, and open third-party ecosystem.
Today we are going to emphasize the security protection advantages of the TarK payment system. Tark payment system is the world's first dual-form cold payment system security protection model. It introduces the top technology innovation and multi-person collaborative management function of Silicon Valley in the United States, which greatly reduces the safety factor of users’token asset and can escort the user's token assets!
In addition, Tark payment system will automatically open the never networking mode during idle use, build transactions and signatures at cold end, conect the network and broadcast transactions at hot end, to create a solid protection shield for the token assets, completely eradicate network hacking and resist asset risk caused by various reasons.
TarK payment system provides you with stronger security protection than “Ali’s Agents of SHIELD”, so you can stay away from the coin theft of centralized trading platform!
Download link of Tark payment system: http://www.tarkwallet.com/download/down.html
submitted by gswt to u/gswt [link] [comments]

You think only Ali has Agents of SHIELD? A higher level of security is here


On May 8th, according to the official announcement of Binance, the Binance exchange discovered a large-scale security vulnerability, and the hacker was able to obtain a large number of user API keys, 2FA codes and other possible information to steal the token assets. At 17:15:24 on May 7, the hacker stole 7,000 bitcoins from the coin-hot payment system at block height 575012.
After the theft of the coin, BNB fell 5% in half an hour and quickly fell below $20. Then Binance announced that, due to security vulnerabilities, Binance will take about one week to conduct a thorough security check, during which time the recharge and withdrawal will be suspended to ensure that the trading market is not affected.
Although Binance announced that the "SAFU Fund" will be used to fully bear the full loss of this attack, no user has any losses, but the impact of user panic caused by the coin theft incident cannot be eliminated in a short period of time.
Faced with the frequent occurrence of coin theft in trading platforms, people can't help but ask why Alipay will not be hacked by hackers.
According to relevant statistics, more than 400 million users use Alipay in China, and the total amount of user assets is immeasurable. This number should be more attractive for hackers, but why is Alipay not hacked?
According to the reason spread on the Internet, the reason why we can use Alipay with peace of mind is because Alipay has a department like Agents of SHIELD. In other words, it is not that hackers do not want to attack Alipay, but they do not have the ability to attack. It is said that the "Agents of SHIELD" will recruit hackers who attack Alibaba. If the hacker can break through the firewall, they will ask the hacker to work in Ali, offering a very generous salary. In addition, even if the last line of defense of the Alipay system was also broken, it was proposed that the transfer network was strictly regulated by the legal currency, which could not be taken away, and could be traced and lead to jail.
For hackers, attacking Alipay is a very unwise choice, not to mention the high level of difficulty, but also to bear the high risk. Compared with the attack Alipay, hacking the token trading platform in the black blockchain field is much easier. As long as there is a loophole in the token trading platform, it gives the hacker a chance. Due to the anonymity of the blockchain transaction, the assets of the trading platform can hardly be recovered after it is lost.
So for hackers, some trading platforms are comparable to "ATMs."
Nowadays, the popular exchanges are still in the development stage of centralization, and the incident of coin theft is almost inevitable. In addition to being attacked by hackers, the situation of inside job of the trading platform has also occurred from time to time. Then, how should the asset security of the token holders be maintained?
The emergence of the new digital payment system TarK payment system provides a new idea for solving the problem. The TarK payment system is a decentralized payment system developed and based on the fourth generation of blockchain technology. In addition to storing the token assets, it also supports payments of all token assets and cross-chain transactions. Tark combines two major features of anonymity and security, as well as six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification, and open third-party ecosystem.
Today we are going to emphasize the security protection advantages of the TarK payment system. Tark payment system is the world's first dual-form cold payment system security protection model. It introduces the top technology innovation and multi-person collaborative management function of Silicon Valley in the United States, which greatly reduces the safety factor of users’token asset and can escort the user's token assets!
In addition, Tark payment system will automatically open the never networking mode during idle use, build transactions and signatures at cold end, conect the network and broadcast transactions at hot end, to create a solid protection shield for the token assets, completely eradicate network hacking and resist asset risk caused by various reasons.
TarK payment system provides you with stronger security protection than “Ali’s Agents of SHIELD”, so you can stay away from the coin theft of centralized trading platform!
Download link of Tark payment system: http://www.tarkwallet.com/download/down.html
submitted by gswt to u/gswt [link] [comments]

You think only Ali has Agents of SHIELD? A higher level of security is here


On May 8th, according to the official announcement of Binance, the Binance exchange discovered a large-scale security vulnerability, and the hacker was able to obtain a large number of user API keys, 2FA codes and other possible information to steal the token assets. At 17:15:24 on May 7, the hacker stole 7,000 bitcoins from the coin-hot wallet at block height 575012.
After the theft of the coin, BNB fell 5% in half an hour and quickly fell below $20. Then Binance announced that, due to security vulnerabilities, Binance will take about one week to conduct a thorough security check, during which time the recharge and withdrawal will be suspended to ensure that the trading market is not affected.
Although Binance announced that the "SAFU Fund" will be used to fully bear the full loss of this attack, no user has any losses, but the impact of user panic caused by the coin theft incident cannot be eliminated in a short period of time.
Faced with the frequent occurrence of coin theft in trading platforms, people can't help but ask why Alipay will not be hacked by hackers.
According to relevant statistics, more than 400 million users use Alipay in China, and the total amount of user assets is immeasurable. This number should be more attractive for hackers, but why is Alipay not hacked?
According to the reason spread on the Internet, the reason why we can use Alipay with peace of mind is because Alipay has a department like Agents of SHIELD. In other words, it is not that hackers do not want to attack Alipay, but they do not have the ability to attack. It is said that the "Agents of SHIELD" will recruit hackers who attack Alibaba. If the hacker can break through the firewall, they will ask the hacker to work in Ali, offering a very generous salary. In addition, even if the last line of defense of the Alipay system was also broken, it was proposed that the transfer network was strictly regulated by the legal currency, which could not be taken away, and could be traced and lead to jail.
For hackers, attacking Alipay is a very unwise choice, not to mention the high level of difficulty, but also to bear the high risk. Compared with the attack Alipay, hacking the token trading platform in the black blockchain field is much easier. As long as there is a loophole in the token trading platform, it gives the hacker a chance. Due to the anonymity of the blockchain transaction, the assets of the trading platform can hardly be recovered after it is lost.
So for hackers, some trading platforms are comparable to "ATMs."
Nowadays, the popular exchanges are still in the development stage of centralization, and the incident of coin theft is almost inevitable. In addition to being attacked by hackers, the situation of inside job of the trading platform has also occurred from time to time. Then, how should the asset security of the token holders be maintained?
The emergence of the new digital wallet TarK wallet provides a new idea for solving the problem. The TarK wallet is a decentralized wallet developed and based on the fourth generation of blockchain technology. In addition to storing the token assets, it also supports payments of all token assets and cross-chain transactions. Tark combines two major features of anonymity and security, as well as six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification, and open third-party ecosystem.
Today we are going to emphasize the security protection advantages of the TarK wallet. Tark wallet is the world's first dual-form cold wallet security protection model. It introduces the top technology innovation and multi-person collaborative management function of Silicon Valley in the United States, which greatly reduces the safety factor of users’token asset and can escort the user's token assets!
In addition, Tark wallet will automatically open the never networking mode during idle use, build transactions and signatures at cold end, conect the network and broadcast transactions at hot end, to create a solid protection shield for the token assets, completely eradicate network hacking and resist asset risk caused by various reasons.
TarK wallet provides you with stronger security protection than “Ali’s Agents of SHIELD”, so you can stay away from the coin theft of centralized trading platform!
Quickly download on the official website :http://www.tarkwallet.com/download/down.html
submitted by gswt to u/gswt [link] [comments]

You think only Ali has Agents of SHIELD? A higher level of security is here


On May 8th, according to the official announcement of Binance, the Binance exchange discovered a large-scale security vulnerability, and the hacker was able to obtain a large number of user API keys, 2FA codes and other possible information to steal the token assets. At 17:15:24 on May 7, the hacker stole 7,000 bitcoins from the coin-hot wallet at block height 575012.
After the theft of the coin, BNB fell 5% in half an hour and quickly fell below $20. Then Binance announced that, due to security vulnerabilities, Binance will take about one week to conduct a thorough security check, during which time the recharge and withdrawal will be suspended to ensure that the trading market is not affected.
Although Binance announced that the "SAFU Fund" will be used to fully bear the full loss of this attack, no user has any losses, but the impact of user panic caused by the coin theft incident cannot be eliminated in a short period of time.
Faced with the frequent occurrence of coin theft in trading platforms, people can't help but ask why Alipay will not be hacked by hackers.
According to relevant statistics, more than 400 million users use Alipay in China, and the total amount of user assets is immeasurable. This number should be more attractive for hackers, but why is Alipay not hacked?
According to the reason spread on the Internet, the reason why we can use Alipay with peace of mind is because Alipay has a department like Agents of SHIELD. In other words, it is not that hackers do not want to attack Alipay, but they do not have the ability to attack. It is said that the "Agents of SHIELD" will recruit hackers who attack Alibaba. If the hacker can break through the firewall, they will ask the hacker to work in Ali, offering a very generous salary. In addition, even if the last line of defense of the Alipay system was also broken, it was proposed that the transfer network was strictly regulated by the legal currency, which could not be taken away, and could be traced and lead to jail.
For hackers, attacking Alipay is a very unwise choice, not to mention the high level of difficulty, but also to bear the high risk. Compared with the attack Alipay, hacking the token trading platform in the black blockchain field is much easier. As long as there is a loophole in the token trading platform, it gives the hacker a chance. Due to the anonymity of the blockchain transaction, the assets of the trading platform can hardly be recovered after it is lost.
So for hackers, some trading platforms are comparable to "ATMs."
Nowadays, the popular exchanges are still in the development stage of centralization, and the incident of coin theft is almost inevitable. In addition to being attacked by hackers, the situation of inside job of the trading platform has also occurred from time to time. Then, how should the asset security of the token holders be maintained?
The emergence of the new digital wallet TarK wallet provides a new idea for solving the problem. The TarK wallet is a decentralized wallet developed and based on the fourth generation of blockchain technology. In addition to storing the token assets, it also supports payments of all token assets and cross-chain transactions. Tark combines two major features of anonymity and security, as well as six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification, and open third-party ecosystem.
Today we are going to emphasize the security protection advantages of the TarK wallet. Tark wallet is the world's first dual-form cold wallet security protection model. It introduces the top technology innovation and multi-person collaborative management function of Silicon Valley in the United States, which greatly reduces the safety factor of users’token asset and can escort the user's token assets!
In addition, Tark wallet will automatically open the never networking mode during idle use, build transactions and signatures at cold end, conect the network and broadcast transactions at hot end, to create a solid protection shield for the token assets, completely eradicate network hacking and resist asset risk caused by various reasons.
TarK wallet provides you with stronger security protection than “Ali’s Agents of SHIELD”, so you can stay away from the coin theft of centralized trading platform!
Quickly download on the official website :http://www.tarkwallet.com/download/down.html
submitted by gswt to u/gswt [link] [comments]

You think only Ali has Agents of SHIELD? A higher level of security is here


On May 8th, according to the official announcement of Binance, the Binance exchange discovered a large-scale security vulnerability, and the hacker was able to obtain a large number of user API keys, 2FA codes and other possible information to steal the token assets. At 17:15:24 on May 7, the hacker stole 7,000 bitcoins from the coin-hot wallet at block height 575012.
After the theft of the coin, BNB fell 5% in half an hour and quickly fell below $20. Then Binance announced that, due to security vulnerabilities, Binance will take about one week to conduct a thorough security check, during which time the recharge and withdrawal will be suspended to ensure that the trading market is not affected.
Although Binance announced that the "SAFU Fund" will be used to fully bear the full loss of this attack, no user has any losses, but the impact of user panic caused by the coin theft incident cannot be eliminated in a short period of time.
Faced with the frequent occurrence of coin theft in trading platforms, people can't help but ask why Alipay will not be hacked by hackers.
According to relevant statistics, more than 400 million users use Alipay in China, and the total amount of user assets is immeasurable. This number should be more attractive for hackers, but why is Alipay not hacked?
According to the reason spread on the Internet, the reason why we can use Alipay with peace of mind is because Alipay has a department like Agents of SHIELD. In other words, it is not that hackers do not want to attack Alipay, but they do not have the ability to attack. It is said that the "Agents of SHIELD" will recruit hackers who attack Alibaba. If the hacker can break through the firewall, they will ask the hacker to work in Ali, offering a very generous salary. In addition, even if the last line of defense of the Alipay system was also broken, it was proposed that the transfer network was strictly regulated by the legal currency, which could not be taken away, and could be traced and lead to jail.
For hackers, attacking Alipay is a very unwise choice, not to mention the high level of difficulty, but also to bear the high risk. Compared with the attack Alipay, hacking the token trading platform in the black blockchain field is much easier. As long as there is a loophole in the token trading platform, it gives the hacker a chance. Due to the anonymity of the blockchain transaction, the assets of the trading platform can hardly be recovered after it is lost.
So for hackers, some trading platforms are comparable to "ATMs."
Nowadays, the popular exchanges are still in the development stage of centralization, and the incident of coin theft is almost inevitable. In addition to being attacked by hackers, the situation of inside job of the trading platform has also occurred from time to time. Then, how should the asset security of the token holders be maintained?
The emergence of the new digital wallet TarK wallet provides a new idea for solving the problem. The TarK wallet is a decentralized wallet developed and based on the fourth generation of blockchain technology. In addition to storing the token assets, it also supports payments of all token assets and cross-chain transactions. Tark combines two major features of anonymity and security, as well as six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification, and open third-party ecosystem.
Today we are going to emphasize the security protection advantages of the TarK wallet. Tark wallet is the world's first dual-form cold wallet security protection model. It introduces the top technology innovation and multi-person collaborative management function of Silicon Valley in the United States, which greatly reduces the safety factor of users’token asset and can escort the user's token assets!
In addition, Tark wallet will automatically open the never networking mode during idle use, build transactions and signatures at cold end, conect the network and broadcast transactions at hot end, to create a solid protection shield for the token assets, completely eradicate network hacking and resist asset risk caused by various reasons.
TarK wallet provides you with stronger security protection than “Ali’s Agents of SHIELD”, so you can stay away from the coin theft of centralized trading platform!
Quickly download on the official website :http://www.tarkwallet.com/download/down.html
submitted by gswt to u/gswt [link] [comments]

You think only Ali has Agents of SHIELD? A higher level of security is here


On May 8th, according to the official announcement of Binance, the Binance exchange discovered a large-scale security vulnerability, and the hacker was able to obtain a large number of user API keys, 2FA codes and other possible information to steal the token assets. At 17:15:24 on May 7, the hacker stole 7,000 bitcoins from the coin-hot wallet at block height 575012.
After the theft of the coin, BNB fell 5% in half an hour and quickly fell below $20. Then Binance announced that, due to security vulnerabilities, Binance will take about one week to conduct a thorough security check, during which time the recharge and withdrawal will be suspended to ensure that the trading market is not affected.
Although Binance announced that the "SAFU Fund" will be used to fully bear the full loss of this attack, no user has any losses, but the impact of user panic caused by the coin theft incident cannot be eliminated in a short period of time.
Faced with the frequent occurrence of coin theft in trading platforms, people can't help but ask why Alipay will not be hacked by hackers.
According to relevant statistics, more than 400 million users use Alipay in China, and the total amount of user assets is immeasurable. This number should be more attractive for hackers, but why is Alipay not hacked?
According to the reason spread on the Internet, the reason why we can use Alipay with peace of mind is because Alipay has a department like Agents of SHIELD. In other words, it is not that hackers do not want to attack Alipay, but they do not have the ability to attack. It is said that the "Agents of SHIELD" will recruit hackers who attack Alibaba. If the hacker can break through the firewall, they will ask the hacker to work in Ali, offering a very generous salary. In addition, even if the last line of defense of the Alipay system was also broken, it was proposed that the transfer network was strictly regulated by the legal currency, which could not be taken away, and could be traced and lead to jail.
For hackers, attacking Alipay is a very unwise choice, not to mention the high level of difficulty, but also to bear the high risk. Compared with the attack Alipay, hacking the token trading platform in the black blockchain field is much easier. As long as there is a loophole in the token trading platform, it gives the hacker a chance. Due to the anonymity of the blockchain transaction, the assets of the trading platform can hardly be recovered after it is lost.
So for hackers, some trading platforms are comparable to "ATMs."
Nowadays, the popular exchanges are still in the development stage of centralization, and the incident of coin theft is almost inevitable. In addition to being attacked by hackers, the situation of inside job of the trading platform has also occurred from time to time. Then, how should the asset security of the token holders be maintained?
The emergence of the new digital wallet TarK wallet provides a new idea for solving the problem. The TarK wallet is a decentralized wallet developed and based on the fourth generation of blockchain technology. In addition to storing the token assets, it also supports payments of all token assets and cross-chain transactions. Tark combines two major features of anonymity and security, as well as six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification, and open third-party ecosystem.
Today we are going to emphasize the security protection advantages of the TarK wallet. Tark wallet is the world's first dual-form cold wallet security protection model. It introduces the top technology innovation and multi-person collaborative management function of Silicon Valley in the United States, which greatly reduces the safety factor of users’token asset and can escort the user's token assets!
In addition, Tark wallet will automatically open the never networking mode during idle use, build transactions and signatures at cold end, conect the network and broadcast transactions at hot end, to create a solid protection shield for the token assets, completely eradicate network hacking and resist asset risk caused by various reasons.
TarK wallet provides you with stronger security protection than “Ali’s Agents of SHIELD”, so you can stay away from the coin theft of centralized trading platform!
Quickly download on the official website :http://www.tarkwallet.com/download/down.html
submitted by gswt to u/gswt [link] [comments]

You think only Ali has Agents of SHIELD? A higher level of security is here


On May 8th, according to the official announcement of Binance, the Binance exchange discovered a large-scale security vulnerability, and the hacker was able to obtain a large number of user API keys, 2FA codes and other possible information to steal the token assets. At 17:15:24 on May 7, the hacker stole 7,000 bitcoins from the coin-hot wallet at block height 575012.
After the theft of the coin, BNB fell 5% in half an hour and quickly fell below $20. Then Binance announced that, due to security vulnerabilities, Binance will take about one week to conduct a thorough security check, during which time the recharge and withdrawal will be suspended to ensure that the trading market is not affected.
Although Binance announced that the "SAFU Fund" will be used to fully bear the full loss of this attack, no user has any losses, but the impact of user panic caused by the coin theft incident cannot be eliminated in a short period of time.
Faced with the frequent occurrence of coin theft in trading platforms, people can't help but ask why Alipay will not be hacked by hackers.
According to relevant statistics, more than 400 million users use Alipay in China, and the total amount of user assets is immeasurable. This number should be more attractive for hackers, but why is Alipay not hacked?
According to the reason spread on the Internet, the reason why we can use Alipay with peace of mind is because Alipay has a department like Agents of SHIELD. In other words, it is not that hackers do not want to attack Alipay, but they do not have the ability to attack. It is said that the "Agents of SHIELD" will recruit hackers who attack Alibaba. If the hacker can break through the firewall, they will ask the hacker to work in Ali, offering a very generous salary. In addition, even if the last line of defense of the Alipay system was also broken, it was proposed that the transfer network was strictly regulated by the legal currency, which could not be taken away, and could be traced and lead to jail.
For hackers, attacking Alipay is a very unwise choice, not to mention the high level of difficulty, but also to bear the high risk. Compared with the attack Alipay, hacking the token trading platform in the black blockchain field is much easier. As long as there is a loophole in the token trading platform, it gives the hacker a chance. Due to the anonymity of the blockchain transaction, the assets of the trading platform can hardly be recovered after it is lost.
So for hackers, some trading platforms are comparable to "ATMs."
Nowadays, the popular exchanges are still in the development stage of centralization, and the incident of coin theft is almost inevitable. In addition to being attacked by hackers, the situation of inside job of the trading platform has also occurred from time to time. Then, how should the asset security of the token holders be maintained?
The emergence of the new digital wallet TarK wallet provides a new idea for solving the problem. The TarK wallet is a decentralized wallet developed and based on the fourth generation of blockchain technology. In addition to storing the token assets, it also supports payments of all token assets and cross-chain transactions. Tark combines two major features of anonymity and security, as well as six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification, and open third-party ecosystem.
Today we are going to emphasize the security protection advantages of the TarK wallet. Tark wallet is the world's first dual-form cold wallet security protection model. It introduces the top technology innovation and multi-person collaborative management function of Silicon Valley in the United States, which greatly reduces the safety factor of users’token asset and can escort the user's token assets!
In addition, Tark wallet will automatically open the never networking mode during idle use, build transactions and signatures at cold end, conect the network and broadcast transactions at hot end, to create a solid protection shield for the token assets, completely eradicate network hacking and resist asset risk caused by various reasons.
TarK wallet provides you with stronger security protection than “Ali’s Agents of SHIELD”, so you can stay away from the coin theft of centralized trading platform!
Quickly download on the official website :http://www.tarkwallet.com/download/down.html

submitted by tongzhengshijie1 to u/tongzhengshijie1 [link] [comments]

You think only Ali has Agents of SHIELD? A higher level of security is here


On May 8th, according to the official announcement of Binance, the Binance exchange discovered a large-scale security vulnerability, and the hacker was able to obtain a large number of user API keys, 2FA codes and other possible information to steal the token assets. At 17:15:24 on May 7, the hacker stole 7,000 bitcoins from the coin-hot wallet at block height 575012.
After the theft of the coin, BNB fell 5% in half an hour and quickly fell below $20. Then Binance announced that, due to security vulnerabilities, Binance will take about one week to conduct a thorough security check, during which time the recharge and withdrawal will be suspended to ensure that the trading market is not affected.
Although Binance announced that the "SAFU Fund" will be used to fully bear the full loss of this attack, no user has any losses, but the impact of user panic caused by the coin theft incident cannot be eliminated in a short period of time.
Faced with the frequent occurrence of coin theft in trading platforms, people can't help but ask why Alipay will not be hacked by hackers.
According to relevant statistics, more than 400 million users use Alipay in China, and the total amount of user assets is immeasurable. This number should be more attractive for hackers, but why is Alipay not hacked?
According to the reason spread on the Internet, the reason why we can use Alipay with peace of mind is because Alipay has a department like Agents of SHIELD. In other words, it is not that hackers do not want to attack Alipay, but they do not have the ability to attack. It is said that the "Agents of SHIELD" will recruit hackers who attack Alibaba. If the hacker can break through the firewall, they will ask the hacker to work in Ali, offering a very generous salary. In addition, even if the last line of defense of the Alipay system was also broken, it was proposed that the transfer network was strictly regulated by the legal currency, which could not be taken away, and could be traced and lead to jail.
For hackers, attacking Alipay is a very unwise choice, not to mention the high level of difficulty, but also to bear the high risk. Compared with the attack Alipay, hacking the token trading platform in the black blockchain field is much easier. As long as there is a loophole in the token trading platform, it gives the hacker a chance. Due to the anonymity of the blockchain transaction, the assets of the trading platform can hardly be recovered after it is lost.
So for hackers, some trading platforms are comparable to "ATMs."
Nowadays, the popular exchanges are still in the development stage of centralization, and the incident of coin theft is almost inevitable. In addition to being attacked by hackers, the situation of inside job of the trading platform has also occurred from time to time. Then, how should the asset security of the token holders be maintained?
The emergence of the new digital wallet TarK wallet provides a new idea for solving the problem. The TarK wallet is a decentralized wallet developed and based on the fourth generation of blockchain technology. In addition to storing the token assets, it also supports payments of all token assets and cross-chain transactions. Tark combines two major features of anonymity and security, as well as six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification, and open third-party ecosystem.
Today we are going to emphasize the security protection advantages of the TarK wallet. Tark wallet is the world's first dual-form cold wallet security protection model. It introduces the top technology innovation and multi-person collaborative management function of Silicon Valley in the United States, which greatly reduces the safety factor of users’token asset and can escort the user's token assets!
In addition, Tark wallet will automatically open the never networking mode during idle use, build transactions and signatures at cold end, conect the network and broadcast transactions at hot end, to create a solid protection shield for the token assets, completely eradicate network hacking and resist asset risk caused by various reasons.
TarK wallet provides you with stronger security protection than “Ali’s Agents of SHIELD”, so you can stay away from the coin theft of centralized trading platform!
Quickly download on the official website :http://www.tarkwallet.com/download/down.html
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submitted by tongzhengshijie1 to u/tongzhengshijie1 [link] [comments]

You think only Ali has Agents of SHIELD? A higher level of security is here

You think only Ali has Agents of SHIELD? A higher level of security is here

On May 8th, according to the official announcement of Binance, the Binance exchange discovered a large-scale security vulnerability, and the hacker was able to obtain a large number of user API keys, 2FA codes and other possible information to steal the token assets. At 17:15:24 on May 7, the hacker stole 7,000 bitcoins from the coin-hot wallet at block height 575012.
📷
https://preview.redd.it/0kgepf9za7631.png?width=557&format=png&auto=webp&s=b3dd79364265830fd99e0f84813ba97a226d2f0c
After the theft of the coin, BNB fell 5% in half an hour and quickly fell below $20. Then Binance announced that, due to security vulnerabilities, Binance will take about one week to conduct a thorough security check, during which time the recharge and withdrawal will be suspended to ensure that the trading market is not affected.
Although Binance announced that the "SAFU Fund" will be used to fully bear the full loss of this attack, no user has any losses, but the impact of user panic caused by the coin theft incident cannot be eliminated in a short period of time.
Faced with the frequent occurrence of coin theft in trading platforms, people can't help but ask why Alipay will not be hacked by hackers.
According to relevant statistics, more than 400 million users use Alipay in China, and the total amount of user assets is immeasurable. This number should be more attractive for hackers, but why is Alipay not hacked?
According to the reason spread on the Internet, the reason why we can use Alipay with peace of mind is because Alipay has a department like Agents of SHIELD. In other words, it is not that hackers do not want to attack Alipay, but they do not have the ability to attack. It is said that the "Agents of SHIELD" will recruit hackers who attack Alibaba. If the hacker can break through the firewall, they will ask the hacker to work in Ali, offering a very generous salary. In addition, even if the last line of defense of the Alipay system was also broken, it was proposed that the transfer network was strictly regulated by the legal currency, which could not be taken away, and could be traced and lead to jail.
📷
https://preview.redd.it/6cwixo90b7631.png?width=553&format=png&auto=webp&s=e5b4750612ea72246a79b1cfc44c7e5fef712aa9
For hackers, attacking Alipay is a very unwise choice, not to mention the high level of difficulty, but also to bear the high risk. Compared with the attack Alipay, hacking the token trading platform in the black blockchain field is much easier. As long as there is a loophole in the token trading platform, it gives the hacker a chance. Due to the anonymity of the blockchain transaction, the assets of the trading platform can hardly be recovered after it is lost.
So for hackers, some trading platforms are comparable to "ATMs."
Nowadays, the popular exchanges are still in the development stage of centralization, and the incident of coin theft is almost inevitable. In addition to being attacked by hackers, the situation of inside job of the trading platform has also occurred from time to time. Then, how should the asset security of the token holders be maintained?
The emergence of the new digital wallet TarK wallet provides a new idea for solving the problem. The TarK wallet is a decentralized wallet developed and based on the fourth generation of blockchain technology. In addition to storing the token assets, it also supports payments of all token assets and cross-chain transactions. Tark combines two major features of anonymity and security, as well as six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification, and open third-party ecosystem.
Today we are going to emphasize the security protection advantages of the TarK wallet. Tark wallet is the world's first dual-form cold wallet security protection model. It introduces the top technology innovation and multi-person collaborative management function of Silicon Valley in the United States, which greatly reduces the safety factor of users’token asset and can escort the user's token assets!
In addition, Tark wallet will automatically open the never networking mode during idle use, build transactions and signatures at cold end, conect the network and broadcast transactions at hot end, to create a solid protection shield for the token assets, completely eradicate network hacking and resist asset risk caused by various reasons.
TarK wallet provides you with stronger security protection than “Ali’s Agents of SHIELD”, so you can stay away from the coin theft of centralized trading platform!
Quickly download on the official website :http://www.tarkwallet.com/download/down.html
submitted by tongzhengshijie1 to u/tongzhengshijie1 [link] [comments]

You think only Ali has Agents of SHIELD? A higher level of security is here

You think only Ali has Agents of SHIELD? A higher level of security is here

On May 8th, according to the official announcement of Binance, the Binance exchange discovered a large-scale security vulnerability, and the hacker was able to obtain a large number of user API keys, 2FA codes and other possible information to steal the token assets. At 17:15:24 on May 7, the hacker stole 7,000 bitcoins from the coin-hot wallet at block height 575012.
📷
https://preview.redd.it/6gh7lqb2r7531.png?width=557&format=png&auto=webp&s=25481a04473372829712d9d7d88c095674f6cea5
After the theft of the coin, BNB fell 5% in half an hour and quickly fell below $20. Then Binance announced that, due to security vulnerabilities, Binance will take about one week to conduct a thorough security check, during which time the recharge and withdrawal will be suspended to ensure that the trading market is not affected.
Although Binance announced that the "SAFU Fund" will be used to fully bear the full loss of this attack, no user has any losses, but the impact of user panic caused by the coin theft incident cannot be eliminated in a short period of time.
Faced with the frequent occurrence of coin theft in trading platforms, people can't help but ask why Alipay will not be hacked by hackers.
According to relevant statistics, more than 400 million users use Alipay in China, and the total amount of user assets is immeasurable. This number should be more attractive for hackers, but why is Alipay not hacked?
According to the reason spread on the Internet, the reason why we can use Alipay with peace of mind is because Alipay has a department like Agents of SHIELD. In other words, it is not that hackers do not want to attack Alipay, but they do not have the ability to attack. It is said that the "Agents of SHIELD" will recruit hackers who attack Alibaba. If the hacker can break through the firewall, they will ask the hacker to work in Ali, offering a very generous salary. In addition, even if the last line of defense of the Alipay system was also broken, it was proposed that the transfer network was strictly regulated by the legal currency, which could not be taken away, and could be traced and lead to jail.
📷
https://preview.redd.it/v1pugzg3r7531.png?width=553&format=png&auto=webp&s=f47f606ecddbf6bcb4f843d0fb22535bd387e74b
For hackers, attacking Alipay is a very unwise choice, not to mention the high level of difficulty, but also to bear the high risk. Compared with the attack Alipay, hacking the token trading platform in the black blockchain field is much easier. As long as there is a loophole in the token trading platform, it gives the hacker a chance. Due to the anonymity of the blockchain transaction, the assets of the trading platform can hardly be recovered after it is lost.
So for hackers, some trading platforms are comparable to "ATMs."
Nowadays, the popular exchanges are still in the development stage of centralization, and the incident of coin theft is almost inevitable. In addition to being attacked by hackers, the situation of inside job of the trading platform has also occurred from time to time. Then, how should the asset security of the token holders be maintained?
The emergence of the new digital wallet TarK wallet provides a new idea for solving the problem. The TarK wallet is a decentralized wallet developed and based on the fourth generation of blockchain technology. In addition to storing the token assets, it also supports payments of all token assets and cross-chain transactions. Tark combines two major features of anonymity and security, as well as six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification, and open third-party ecosystem.
Today we are going to emphasize the security protection advantages of the TarK wallet. Tark wallet is the world's first dual-form cold wallet security protection model. It introduces the top technology innovation and multi-person collaborative management function of Silicon Valley in the United States, which greatly reduces the safety factor of users’token asset and can escort the user's token assets!
In addition, Tark wallet will automatically open the never networking mode during idle use, build transactions and signatures at cold end, conect the network and broadcast transactions at hot end, to create a solid protection shield for the token assets, completely eradicate network hacking and resist asset risk caused by various reasons.
TarK wallet provides you with stronger security protection than “Ali’s Agents of SHIELD”, so you can stay away from the coin theft of centralized trading platform!
Quickly download on the official website :http://www.tarkwallet.com/download/down.html
submitted by tongzhengshijie1 to u/tongzhengshijie1 [link] [comments]

You think only Ali has Agents of SHIELD? A higher level of security is here

You think only Ali has Agents of SHIELD? A higher level of security is here

On May 8th, according to the official announcement of Binance, the Binance exchange discovered a large-scale security vulnerability, and the hacker was able to obtain a large number of user API keys, 2FA codes and other possible information to steal the token assets. At 17:15:24 on May 7, the hacker stole 7,000 bitcoins from the coin-hot wallet at block height 575012.

https://preview.redd.it/l1hwyeg3re531.png?width=557&format=png&auto=webp&s=1326c49e07ca00a75f7aa336977b68e618f1cc25
After the theft of the coin, BNB fell 5% in half an hour and quickly fell below $20. Then Binance announced that, due to security vulnerabilities, Binance will take about one week to conduct a thorough security check, during which time the recharge and withdrawal will be suspended to ensure that the trading market is not affected.
Although Binance announced that the "SAFU Fund" will be used to fully bear the full loss of this attack, no user has any losses, but the impact of user panic caused by the coin theft incident cannot be eliminated in a short period of time.
Faced with the frequent occurrence of coin theft in trading platforms, people can't help but ask why Alipay will not be hacked by hackers.
According to relevant statistics, more than 400 million users use Alipay in China, and the total amount of user assets is immeasurable. This number should be more attractive for hackers, but why is Alipay not hacked?
According to the reason spread on the Internet, the reason why we can use Alipay with peace of mind is because Alipay has a department like Agents of SHIELD. In other words, it is not that hackers do not want to attack Alipay, but they do not have the ability to attack. It is said that the "Agents of SHIELD" will recruit hackers who attack Alibaba. If the hacker can break through the firewall, they will ask the hacker to work in Ali, offering a very generous salary. In addition, even if the last line of defense of the Alipay system was also broken, it was proposed that the transfer network was strictly regulated by the legal currency, which could not be taken away, and could be traced and lead to jail.

https://preview.redd.it/sz1v5b15re531.png?width=553&format=png&auto=webp&s=cd0c162f1397afef0ae4eb232d1de187c594dfaf
For hackers, attacking Alipay is a very unwise choice, not to mention the high level of difficulty, but also to bear the high risk. Compared with the attack Alipay, hacking the token trading platform in the black blockchain field is much easier. As long as there is a loophole in the token trading platform, it gives the hacker a chance. Due to the anonymity of the blockchain transaction, the assets of the trading platform can hardly be recovered after it is lost.
So for hackers, some trading platforms are comparable to "ATMs."
Nowadays, the popular exchanges are still in the development stage of centralization, and the incident of coin theft is almost inevitable. In addition to being attacked by hackers, the situation of inside job of the trading platform has also occurred from time to time. Then, how should the asset security of the token holders be maintained?
The emergence of the new digital wallet TarK wallet provides a new idea for solving the problem. The TarK wallet is a decentralized wallet developed and based on the fourth generation of blockchain technology. In addition to storing the token assets, it also supports payments of all token assets and cross-chain transactions. Tark combines two major features of anonymity and security, as well as six advantages of multi-currency, second-speed, multi-account system, offline signature, multiple verification, and open third-party ecosystem.
Today we are going to emphasize the security protection advantages of the TarK wallet. Tark wallet is the world's first dual-form cold wallet security protection model. It introduces the top technology innovation and multi-person collaborative management function of Silicon Valley in the United States, which greatly reduces the safety factor of users’token asset and can escort the user's token assets!
In addition, Tark wallet will automatically open the never networking mode during idle use, build transactions and signatures at cold end, conect the network and broadcast transactions at hot end, to create a solid protection shield for the token assets, completely eradicate network hacking and resist asset risk caused by various reasons.
TarK wallet provides you with stronger security protection than “Ali’s Agents of SHIELD”, so you can stay away from the coin theft of centralized trading platform!
Quickly download on the official website :http://www.tarkwallet.com/download/down.html
submitted by tongzhengshijie1 to u/tongzhengshijie1 [link] [comments]

My attempt at an ELI5 for cryptocurrency to help my friends.

This is a long one so fair warning and no there is no tl;dr. I've only been at this for about 6 months and worked up this paper the other day for my friends who are interested but know very little about this. Hopefully whoever reads this can make in corrections as I am far from an expert.
Blockchain
Cryptocurrency, Bitcoin, Ether are all blockchains. Blockchains are basically a spreadsheet (LEDGER) that is duplicated multiple times across a network and updated regularly simultaneously. There is no centralized version of this ledger. It is hosted simultaneously by thousands/millions of computers. These ledgers will update on their own, Bitcoin as an example automatically checks itself every 10 minutes. Each of these 10-minute increment of transactions (in bitcoins case transactions would be sending or receiving bitcoins from one person to another for goods or services) are called BLOCKS. For these blocks to be confirmed, accepted, and updated to the ledger nodes are required.
Nodes (Mining/Forging)
A node is a computer running the blockchain software on the network. The blockchain software will automatically download the entire ledger of all transactions since its inception. At regular intervals, the software will take the transactions of a block (data on the ledger) and convert them into a mathematical puzzle to be solved by randomly chosen nodes (MINING). Mining requires powerful processors (typically GPUs) and substantial quantities of energy to receive mined tokens profitably. When a specific number of nodes solve the puzzle with the same answer they are basically confirming that the data on the block is accurate as multiple independent nodes found the same answer. When confirmed, the block gets added to the previous blocks making a chain of blocks aka a blockchain. As an incentive to run your computer as a node you are rewarded with TOKENS. If a single person or group of people wanted to manipulate the ledger, the amount of machinery and electricity used to achieve the majority of miners thus allowing you to manipulate the ledger is so exponentially expensive that it serves no reasonable purpose. This is an example of a Proof of Work Blockchain System (computer solves puzzle and rewarded with tokens)
Tokens
Tokens are part of the core of the blockchain. They are an incentive to validate transactions and create blocks. They gain intrinsic value based on the blockchain they are associated with. Some blockchains grant token holder’s different abilities. With Bitcoin, tokens are needed to pay for transaction fees. Others allow voting rights on how certain blockchain functions are managed. There is a limited amount of Bitcoin that will ever be released to nodes (21 million expected to be all be released by 2033) which also keep inflation from being a problem. Blockchains can create their platform with whatever number of tokens they would like and release them or create means to mine them as they see fit. Essentially, as with any other fiat money (currency that a government has declared to be legal tender NOT backed by a physical commodity), as adoption and trust increases the value of the token will increase. If most people accept Bitcoin for services and stores accept Bitcoin for goods than it is as good as the next currency.
Wallets
Whether you mine for tokens, are paid in tokens for goods or services or purchase tokens from a person or currency exchange you need a place to store them securely and a way to send and receive them. Cryptocurrency Wallets don’t store currency, they hold your public and private keys that interface with the blockchain so you can access your balance, send money and manage your funds. The public key allows others to send money to the public key only. A wallet that is "offline" (see Hardware or Paper below) cannot access funds or send money unless it is accessed with another form of wallet, either desktop, online, or mobile.
1) Desktop Wallet - Installed on your computer and are only accessible from that SINGLE computer. Very secure but if someone hacks your computer you are exposed. 2) Online Wallet - Run remotely (cloud based) and are far more convenient to access but make them more vulnerable as they are controlled by a third party and are also vulnerable to hacking attacks. Exchange wallets are online wallets but you are not in control of the private key. View it as a wallet that is lended to you so you can trade. The wallet is technically not yours. 3) Mobile - Ran on an app and are useful as they can be used anywhere including retail stores 4) Hardware - Private keys are stored on a tangible device like a USB drive. They can make transactions online but they are stored offline. Compatible with web interfaces and support many but not all currencies. To use, plug into a computer, enter a pin, send currency and confirm. Safest form of storage. 5) Paper - Basically a physical printout of your private and public keys. It is not stored online anywhere and the only way transactions can happen is if you transfer money with the help of an Online wallet.
Example of a Public Key = 1A684DbsHQKPVCWgaUsYdF4uQGwTiA9BFT Example of a Private Key = E9873D79C6D87DC0FB6A5778633389F4453213303DA61F20BD67FC233AA33262
Most wallets provide a Recovery Mnemonic Passcode that is a series of words (typically 12 to 24 words) in a specific order. If you lose your login information for your wallet you can supply the mnemonic passcode and retrieve your lost login information. If you lose your login information and your mnemonic passcode your wallet will be inaccessible and your tokens are lost to you. The above basically describes a first generation Blockchain Cryptocurrency such as Bitcoin. It is used basically as currency with no centralized entity regulating the release of additional currency and keeping the ledger of where the money is going secure and extremely safe from manipulation.
Second Generation Blockchain
The second generation blockchains sprung out of this environment with something more valuable. Utilizing the blockchain system to allow applications to be ran on top of a decentralized secure system. Instead of just recording transactions, contracts could be transmitted the same way. More complex transactions (SMART CONTRACTS) allow for things such as: - Funds to be spent only when a required percentage of people agree - Manage agreements between users (such as insurance) - Provide utility to other contracts - Store information about an application such as domain registration information or membership records This basically can allow applications to be ran on top of the blockchain system. This can cut out the middleman for many real-world applications (mortgages, banking, communications, security confirmations etc.)
Proof of Work/Proof of Stake
As I mentioned earlier, Proof of Work (PoW) requires nodes to solve a mathematical puzzle which is rewarded with tokens. Proof of Stake (PoS) is different, the tokens with proof of stake systems are pre-mined meaning they are all created when the blockchain system is created. Blocks are not verified by the typical method. The block validator uses the blockchain software to stake their tokens and are chosen based on specific factors depending on how many tokens the person holds and for how long. Depending on how many tokens they hold will restrict the quantity of blocks they can validate. If they own more they can validate more often but all validators will be chosen randomly keeping the rewards fairly distributed (unlike PoW which typically reward the first completed.) The blockchain still requires a mathematical puzzle to be solved but it is much easier than PoW requiring far less time and energy. If the blockchain has premined all of their tokens then new tokens cannot be mined for rewards in PoS. The reward for staking your tokens to be a validator is a portion of the transaction fee that is charged as part of normal transactions on the blockchain. That is why PoS miners are called forgers. If manipulation is attempted than their stake can be taken from their wallet adding more motivation to prevent data manipulation.
Fork
Some cryptocurrencies may need to update or upgrade the coding of their blockchain software. When this happens usually a fork occurs. This basically means the cryptocurrency splits into two separate cryptocurrencies. Because the nature of blockchain technology, they are decentralized and autonomous so the older version cannot be deleted or removed. If people choose to continue using the old version they can. For mining/forging purposes the nodes will need to choose which they will mine/forge and download the blockchain software on their computer to proceed. When the fork occurs, anyone holding tokens in the original currency will be given the same number of tokens in the forked currency. (When Bitcoin forked to Bitcoin Cash, anyone holding x amount of Bitcoin would receive a new wallet for Bitcoin Cash also containing x amount of Bitcoin Cash.) This is called a Hard Fork and all previous transactions are made invalid. There are also Soft Forks, in this case it is backwards compatible and all previous transactions are valid. This can result in two currencies but in most cases, it doesn’t as it is usually accepted by most miners/forgers because it is backwards compatible.
Exchanges
Online currency exchanges allow you to buy, sell or exchange fiat money (USD, EUR, etc) with digital currencies or in most cases digital currencies for other digital currencies. There are a large variety of different exchanges that are operated in multiple countries but there are around a dozen that the majority of cryptocurrency trading volume are present on. Not all cryptocurrencies will be listed on all exchanges, some have specific prerequisites to be listed on their exchange and there may be fees associated as well. Once your account is set up you will have a list of all available cryptocurrencies to trade. Each currency will have an associated online wallet with the public key address allowing you to send that specific currency to that wallet. (Many exchanges are having delayed or canceled identity verification, currency transfers and lack sufficient customer support due to the influx of new traders) Examples of top exchanges: 1) Coinbase (trades fiat) 2) GDAX (trades fiat) 3) Gemini (trades fiat) 4) Changelly (trades fiat) 5) Bittrex 6) Binance 7) HitBTC 8) EtherDelta 9) Bitfinex 10) Kraken 11) Bithumb 12) Bitstamp 13) Poloniex 14) OKEx
Sending/Receiving Tokens
All wallets have the ability to send digital currency to other wallets. The function is relatively easy, make sure the currency you are sending is going to the appropriate wallet for that currency. Ethereum tokens cannot be sent to a Bitcoin wallet for example. (The tokens aren’t actually moving location; the list of transactions/ownership is what is stored in the wallet). Triple check the wallet private key you are sending the tokens to. If you type the wrong address the tokens will be lost in nearly all incidents. Some mobile wallets allow you to scan a QR code that will automatically enter the public key rather than copying/pasting or typing out the public key.
Taxes
As of January 1, 2018 it appears that taxing on digital currency has changed. Every trade between any digital currencies (Bitcoin to Ether, Ether to Litecoin etc) will be a taxable transaction. If you hold the currency for longer than one year than you will pay capital gain tax when it is traded or sold (15%-20%) and if you sell or trade in less than a year you will have to add the profit to your taxable income to adjust your tax bracket.
Altcoins
Altcoins are basically any coin that is not Bitcoin. Most cryptocurrencies do not have a native blockchain (their own independent dedicated blockchain). Bitcoin, Ether, Ripple, Waves, NXT, Cardano all have their own native blockchain. Many other cryptocurrencies run on other cryptocurrency’s blockchains. Litecoin runs on Bitcoins blockchain, hundreds run on the Ethereum blockchain. These currencies act as smart contracts running on the adopted blockchain.
DApps (Decentralized Applications)
For a blockchain application to be considered a DApp it must be 1) Open source, code available to all 2) Decentralized, uses blockchain cryptographic tech 3) Incentive, must have tokens to fuel itself 4) Algorithm/Protocol, generates tokens and has a built-in consensus mechanism (mining/forging.)
There are 3 types of DApps, each basically piggybacks off the platform of the previous Type 1 – Have their own blockchain (like bitcoin) Type 2 – Use the blockchain of Type 1 DApps Type 3 – Use the protocol of Type 2 DApps
ICO (Initial Coin Offering)
Much like an IPO (Initial Public Offering) that offers stock in a private company to the public, an ICO raises money for new Cryptocurrency ventures. Typically, a minimum investment is required in the form of a cryptocurrency such as Bitcoin or Ether and the investor is given tokens of the cryptocurrency at a reduced cost. Due to the fact that ICO’s are so new, government agencies have not begun regulating these ventures making them extremely risky as anyone with a competent coder can create and market a cryptocurrency that can be used to swindle investors who aren’t cautious. The US government no longer allows its citizens to participate in ICO’s and if you are using a computer with an IP address located in the United States, ICO’s websites will not allow you to invest.
Research
1) Whitepapers – Each cryptocurrency will have their own dedicated websites and most will have a whitepaper that has a description of what their cryptocurrency is designed to do. 2) Roadmaps – Also on each cryptocurrency’s website, they tend to have a roadmap or timeline as to when they are planning to complete certain milestones be it added features to the blockchain or wallet or any other important events. 3) Coinmarketcap.com – List of every available cryptocurrency, the exchanges they trade on, market cap, trade volume, available tokens, newly created tokens etc. 4) Reddit.com (cryptocurrency subreddit) – Subreddits focused on cryptocurrency as well as specific subreddits focused on individual cryptocurrencies. Be cautious as many people on these sites are uninformed and/or are trying to manipulate the market by fooling others to buy or sell based on fraudulent information. 5) Bitcointalk.org – Forums specific to individual cryptocurrencies. There is a lot of self-marketing (bounties) on this site. Take what they say with a grain of salt 6) TwitteFacebook (Social Media) – Many times news from team members or the cryptocurrency’s social media page will break news before it is listed on any of the above-mentioned outlets. Find out who is working for the cryptocurrency you are interested in and start following the team’s social media. Don’t forget to look at their linkedin accounts if available, previous employment and behavioral history to confirm they are competent. 7) Github - Code from projects can be uploaded here and reviewed for issues and revisions.
Common Terms/Slang
Shilling – covert advertising, personally endorsing a token so as to manipulate the price to either recoup a loss or increase gains on a token the individual owns. FUD – Fear, Uncertainty, Doubt; another method to manipulate the price of a token the person owns by making others second guess their investment decision on a specific token. FOMO – Fear Of Missing Out; buying a token (usually after the price has already increased) hoping they haven’t missed the majority of a price increase. Shitcoin – A cryptocurrency that has become worthless overtime or a scam operation. To the Moon – Massive increase in a token’s price.
I'm sure there are probably revisions to be done on this as I am still getting my head around all of the concepts. Any help to this would be appreciated.
submitted by Truantlife to CryptoCurrency [link] [comments]

Binance was stolen, and tark tell you what to do

Binance was stolen, and tark tell you what to do

https://preview.redd.it/qm9vx6ebdax21.png?width=554&format=png&auto=webp&s=77247a7d143b027c18d6a9c2a6a02da8794a7a78
The issue of wallet security has been raised thousands of times, but theft of the wallet still occurred again and again.
On the morning of May 8, Binance, the global well-known token trading platform announced that Binance found a large-scale security loop at 17:15:24 on May 7th. The hacker stole 7000 bitcoins from Binance’s BTC hot wallets at a height of 575012.
Binance claims that hackers can exploit the vulnerability to obtain a large number of users' API keys, 2FA codes, and potentially other information. Hackers use a variety of technologies, including phishing, viruses, and other attacks. In response to the asset losses, Binance said it would use the SAFU fund to pay in full to protect users' funds from being affected. At present, Binance has suspended all bitcoin withdrawals and recharges. Next, Binance will conduct a thorough security review, which is expected to take about a week.
It is worth noting that this is the first public recognition of the theft since the establishment of Binance since 2017.
Important things are to be repeated for 3 times:
If your wallet also has security risks, you need to download the TarK wallet!
If your wallet also has security risks, you need to download the TarK wallet!
If your wallet also has security risks, you need to download the TarK wallet!
TarK wallet is the leading product of the new generation digital wallet. As a cross-chain wallet based on the latest technology of Blockchain 4.0, TarK combines the advantages of cold wallet and hot wallet, attracting many investors.
TarK wallet two super features, six advantages

https://preview.redd.it/po0likbddax21.png?width=553&format=png&auto=webp&s=1c6372642a01c27a08ab62b99de88a1322ac4ad9
It has two super features of anonymity and security, multi-currency, second-speed, multi-account system, offline signature, multiple verification, and open third-party ecology. Based on the advanced blockchain 4.0 cross-chain lightning network, it provides a new way for global cross-border payment exchange and international settlement. The solution is to realize lightning payment transactions. The network supports all types of tokens circulating around the world.
The biggest advantage of TarK wallet is its super security. Tark Wallet pioneered the world's first dual-form cold wallet security protection model. It introduced the top technology innovation and multi-person collaborative management function of Silicon Valley in the United States, which greatly reduces the safety factor of the risk of users’ token assets and escorts the user's token assets!
In addition,When the wallet is idle, the network will automatically open the never-on-network mode. It builds transactions and signatures at the cold end, and broadcasts transactions at the hot end, creating a strong protection shield for the token assets, completely eradicating the network hacking and resisting the asset risks caused by various reasons.
Compared with the traditional token asset wallet, Tark wallet strictly controlled the payment and withdrawal operation, and the two password security management mechanisms of seed password + payment password prevent theft of assets and fraudulent use, cryptographic storage, never touch the network, secure verification and delete after you use.
In terms of usage, the eight features and five advantages make tark wallets stand out from many wallets. Eight key functions such as key import function, mnemonic word backup function, multi-currency storage function, on-chain matching transaction function, secure transaction function, game lobby function, online live broadcast function, and on-chain query function are all gathered together. Tark wallet to meet all the needs of users with one click!
TarK wallet - financial expert and global payment! It is the best choice for you to enter the token world!
submitted by tongzhengshijie1 to u/tongzhengshijie1 [link] [comments]

Binance was stolen, and tark tell you what to do

Binance was stolen, and tark tell you what to do

https://preview.redd.it/p86qr2nim4x21.png?width=554&format=png&auto=webp&s=01f5d371d5e3acc48ec140aaaa3adb29c7d27ca6
The issue of wallet security has been raised thousands of times, but theft of the wallet still occurred again and again.
On the morning of May 8, Binance, the global well-known token trading platform announced that Binance found a large-scale security loop at 17:15:24 on May 7th. The hacker stole 7000 bitcoins from Binance’s BTC hot wallets at a height of 575012.
Binance claims that hackers can exploit the vulnerability to obtain a large number of users' API keys, 2FA codes, and potentially other information. Hackers use a variety of technologies, including phishing, viruses, and other attacks. In response to the asset losses, Binance said it would use the SAFU fund to pay in full to protect users' funds from being affected. At present, Binance has suspended all bitcoin withdrawals and recharges. Next, Binance will conduct a thorough security review, which is expected to take about a week.
It is worth noting that this is the first public recognition of the theft since the establishment of Binance since 2017.
Important things are to be repeated for 3 times:
If your wallet also has security risks, you need to download the TarK wallet!
If your wallet also has security risks, you need to download the TarK wallet!
If your wallet also has security risks, you need to download the TarK wallet!
TarK wallet is the leading product of the new generation digital wallet. As a cross-chain wallet based on the latest technology of Blockchain 4.0, TarK combines the advantages of cold wallet and hot wallet, attracting many investors.
TarK wallet two super features, six advantages

https://preview.redd.it/j8fd9c5km4x21.png?width=553&format=png&auto=webp&s=f0cd0254316e5c46a3654afb19926aea1a55291c
It has two super features of anonymity and security, multi-currency, second-speed, multi-account system, offline signature, multiple verification, and open third-party ecology. Based on the advanced blockchain 4.0 cross-chain lightning network, it provides a new way for global cross-border payment exchange and international settlement. The solution is to realize lightning payment transactions. The network supports all types of tokens circulating around the world.
The biggest advantage of TarK wallet is its super security. Tark Wallet pioneered the world's first dual-form cold wallet security protection model. It introduced the top technology innovation and multi-person collaborative management function of Silicon Valley in the United States, which greatly reduces the safety factor of the risk of users’ token assets and escorts the user's token assets!
Binance said it would use the SAFU fund to pay in full to protect users' funds from being affected. At present, Binance has suspended all bitcoin withdrawals and recharges. Next, Binance will conduct a thorough security review, which is expected to take about a week.
It is worth noting that this is the first public recognition of the theft since the establishment of Binance since 2017.
Important things are to be repeated for 3 times:
If your wallet also has security risks, you need to download the TarK wallet!
If your wallet also has security risks, you need to download the TarK wallet!
If your wallet also has security risks, you need to download the TarK wallet!
TarK wallet is the leading product of the new generation digital wallet. As a cross-chain wallet based on the latest technology of Blockchain 4.0, TarK combines the advantages of cold wallet and hot wallet, attracting many investors.
TarK wallet two super features, six advantages

https://preview.redd.it/dcg2gjylm4x21.png?width=553&format=png&auto=webp&s=9998375c9b254fdefcb65174509f68a5b3217b58
In addition,When the wallet is idle, the network will automatically open the never-on-network mode. It builds transactions and signatures at the cold end, and broadcasts transactions at the hot end, creating a strong protection shield for the token assets, completely eradicating the network hacking and resisting the asset risks caused by various reasons.

The biggest advantage of TarK wallet is its super security. Tark Wallet pioneered the world's first dual-form cold wallet security protection model. It introduced the top technology innovation and multi-person collaborative management function of Silicon Valley in the United States, which greatly reduces the safety factor of the risk of users’ token assets and escorts the user's token assets!

https://preview.redd.it/26gbmesom4x21.png?width=553&format=png&auto=webp&s=53474933ef3360d6c18842e8e6fe8cd0ea1ac19f
Compared with the traditional token asset wallet, Tark wallet strictly controlled the payment and withdrawal operation, and the two password security management mechanisms of seed password + payment password prevent theft of assets and fraudulent use, cryptographic storage, never touch the network, secure verification and delete after you use.
In terms of usage, the eight features and five advantages make tark wallets stand out from many wallets. Eight key functions such as key import function, mnemonic word backup function, multi-currency storage function, on-chain matching transaction function, secure transaction function, game lobby function, online live broadcast function, and on-chain query function are all gathered together. Tark wallet to meet all the needs of users with one click!
TarK wallet - financial expert and global payment! It is the best choice for you to enter the token world!

submitted by tongzhengshijie1 to u/tongzhengshijie1 [link] [comments]

Blockchain Wallets

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What a Blockchain Wallet is? What is its purpose?
Find the answer after reading this article.
Public/Private Key
The public key is the digital code you give to someone that wants to transfer ownership of a unit of cryptocurrency to you; and a private key is what you need to be able to unlock your own wallet to transfer a unit of a cryptocurrency to someone else. The encoding of information within a wallet is done by the private and public keys. That is the main component of the encryption that maintains the security of the wallet. Both keys function in simultaneous encryption systems called symmetric and asymmetric encryption. The former, alternatively known as private key encryption, makes use of the same key for encryption and decryption. The latter, asymmetric encryption, utilizes two keys, the public and private key, wherein a message-sender encrypts the message with the public key, and the recipient decodes it with their private key. The public key uses asymmetric algorithms that convert messages into an unreadable format. A person who possesses a public key can encrypt the message for a specific receiver.
Accessing wallets
Methods of wallet access vary depending on the type of wallet being used. Various types of currency wallets on an exchange will normally be accessed via the exchange’s entrance portal, normally involving a combination of a username/password and optionally, 2FA (Two factor authentication, which we explain in more detail later). Whereas hardware wallets need to be connected to an internet enabled device, and then have a pin code entered manually by the user in possession of the hardware wallet in order for access to be gained. Phone wallets are accessed through the device on which the wallet application has been downloaded. Ordinarily, a passcode and/or security pattern must be entered before entry is granted, in addition to 2FA for withdrawals.
Satoshi Nakamoto built the Satoshi client which evolved into Bitcoin in 2009. This software allowed users to create wallets and send money to other addresses. However, it proved to be a nightmarish user experience, with many transactions being sent to incorrect addresses and private keys being lost. The MtGox (Magic the Gathering Online exchange, named after the original intended use of the exchange) incident, which will be covered in greater detail later, serves as a reminder of the dangers present in the cryptosphere regarding security, and the need to constantly upgrade your defenses against all potential hacks. The resulting loss of 850k BTC is a still unresolved problem, weighing heavily on the victims and the markets at large. This caused a huge push for a constantly evolving and improving focus on security. Exchanges that developed later, and are thus considered more legitimate and secure, such as Gemini and Coinbase, put a much greater emphasis on vigilance as a direct result of the MtGox hacking incident. We also saw the evolution of wallet security into the physical realm with the creation of hardware wallets, most notable among them the Ledger and Trezor wallets.
Types of Wallets & Storage Methods
The simplest way to sift through the dozens of cryptocurrency storage methods available today, is to divide them up into digital and non-digital, software and hardware wallets. There are also less commonly used methods of storage of private keys, like paper wallets and brain wallets. We will examine them all at least briefly, because in the course of your interaction with cryptocurrencies and Blockchain technology, it is essential to master all the different types of hardware and software wallets. Another distinction must be made between hot wallets and cold wallets. A hot wallet is one that is connected to the internet, and a cold wallet is one that is not. Fun fact: The level below cold storage, deep cold storage has just recently been implemented by the Regal RA DMCC, a subsidiary of an internationally renowned gold trading company licensed in the Middle East. After having been granted a crypto trading license, Regal RA launched their “deep cold” storage solution for traders and investors, which offers the ability to store crypto assets in vaults deep below the Almas Tower in Dubai. This storage method is so secure that at no point is the vault connected to a network or the internet; meaning the owners of the assets can be sure that the private keys are known only to the rightful owners.
Lets take a quick look at specific features and functionality of varieties of crypto wallets. Software wallets: wallet applications installed on a laptop, desktop, phone or tablet. Web Wallets: A hot wallet by definition. Web Wallets are accessible through the web browser on your phone or computer. The most important feature to recognize about any kind of web wallet, is that the private keys are held and managed by a trusted third party. MyEtherWallet is the most commonly used non-exchange web wallet, but it can only be used to store Ethereum and ERC-20 tokens.
Though the avenue of access to MEW is through the web, it is not strictly speaking a web wallet, though this label will suffice for the time being. The MEW site gives you the ability to create a new wallet so you can store your ETH yourself. All the data is created and stored on your CPU rather than their servers. This makes MEW a hybrid kind of web wallet and desktop wallet. Exchange Wallets: A form of Web Wallet contained within an exchange. An exchange will hold a wallet for each individual variety of cryptocurrency you hold on that exchange. Desktop Wallets: A software program downloaded onto your computer or tablet hard drive that usually holds only one kind of cryptocurrency. The Nano Wallet (Formerly Raiwallet) and Neon wallet for storage of NEO and NEP-5 tokens are notable examples of desktop wallets Phone Wallets: These are apps downloaded onto a mobile phone that function in the same manner as a desktop wallet, but actually can hold many different kinds of cryptocurrency. The Eidoo Wallet for storing Ethereum and its associated tokens and Blockchain Wallet which currently is configured to hold BTC, ETH and Bitcoin Cash, are some of the most widely used examples.
Hardware wallets — LedgeTrezoAlternatives
Hardware wallets are basically physical pathways and keys to the unique location of your crypto assets on the Blockchain. These are thought to be more secure than any variety of web wallet because the private key is stored within your own hard wallet, an actual physical device. This forcibly removes the risk your online wallet, or your exchange counter party, might be hacked in the same manner as MtGox. In hardware wallet transactions, the wallet’s API creates the transaction when a user requests a payment. An API is a set of functions that facilitates the creation of applications that interact and access features or data of an operating system. The hardware then signs the transaction, and produces a public key, which is given to the network. This means the signing keys never leave the hardware wallet. The user must both enter a personal identification number and physically press buttons on the hardware wallet in order to gain access to their Blockchain wallet address through this method, and do the same to initiate transfers.
Paper Wallets
Possibly the safest form of cryptocurrency storage in terms of avoiding hacking, Paper Wallets are an offline form of crypto storage that is free to set up, and probably the most secure way for users, from beginners to experts, to hold on to their crypto assets. To say it simply, paper wallets are an offline cold storage method of storing cryptocurrency. This includes actually printing out your public and private keys on a piece of paper, which you then store and save in a secure place. The keys are printed in the form of QR codes which you can scan in the future for all your transactions. The reason why it is so safe is that it gives complete control to you, the user. You do not need to worry about the security or condition of a piece of hardware, nor do you have to worry about hackers on the net, or any other piece of malware. You just need to take care of one piece of paper!
Real World Historical Examples of Different Wallet Types
Web Wallet: Blockchain.info Brief mechanism & Security Blockchain.info is both a cryptocurrency wallet, supporting Bitcoin, Ethereum and Bitcoin cash, and also a block explorer service. The wallet service provided by blockchain.info has both a Web Wallet, and mobile phone application wallet, both of which involve signing up with an email address, and both have downloadable private keys. Two Factor Authentication is enabled for transfers from the web and mobile wallets, as well as email confirmation (as with most withdrawals from exchanges). Phone Wallet: Eidoo The Eidoo wallet is a multi-currency mobile phone app wallet for storage of Ethereum and ERC-20 tokens. The security level is the standard phone wallet level of email registration, confirmation, password login, and 2 factor authentication used in all transfers out. You may find small volumes of different varieties of cryptocurrencies randomly turning up in your Eidoo wallet address. Certain projects have deals with individual wallets to allow for “airdrops” to take place of a particular token into the wallet, without the consent of the wallet holder. There is no need to be alarmed, and the security of the wallet is not in any way compromised by these airdrops.
Neon Wallet
The NEON wallet sets the standard for web wallets in terms of security and user-friendly functionality. This wallet is only designed for storing NEO, Gas, and NEP-5 tokens (Ontology, Deep Brain Chain, RPX etc.). As with all single-currency wallets, be forewarned, if you send the wrong cryptocurrency type to a wallet for which it is not designed, you will probably lose your tokens or coins. MyEtherWallet My Ether Wallet, often referred to as MEW, is the most widely used and highly regarded wallet for Ethereum and its related ERC-20 tokens. You can access your MEW account with a hardware wallet, or a different program. Or you can also get access by typing or copying in your private key. However, you should understand this method is the least safe way possible,and therefore is the most likely to result in a hack. Hardware: TrezoLedger Brief History Mechanism and Security A hardware wallet is a physical key to your on-chain wallet location, with the private keys contained within a secure sector of the device. Your private key never leaves your hardware wallet. This is one of the safest possible methods of access to your crypto assets. Many people feel like the hardware wallet strikes the right balance between security, peace of mind, and convenience. Paper Wallet Paper wallets can be generated at various websites, such as https://bitcoinpaperwallet.com/ and https://walletgenerator.net/. They enable wallet holders to store their private keys totally offline, in as secure a manner as is possible.
Real World Example — Poor Practices
MtGox Hack history effects and security considerations MtGox was the largest cryptocurrency exchange in the world before it was hacked in 2014. They were handling over 70% of BTC transactions before they were forced to liquidate their business. The biggest theft of cryptocurrency in history began when the private keys for the hot wallets were stolen in 2011 from a wallet.dat file, possibly by hacking, possibly by a rogue employee. Over the course of the next 3 years the hot wallets were emptied of approximately 650000 BTC. The hacker only needed wallet.dat file to access and make transfers from the hot wallet, as wallet encryption was only in operation from the time of the Bitcoin 0.4.0 release on Sept 23rd 2011. Even as the wallets were being emptied, the employees at Mt Gox were apparently oblivious to what was taking place. It seems that Mt Gox workers were interpreting these withdrawals as large transfers being made to more secure wallets. The former CEO of the exchange, Mark Karpeles, is currently on trial for embezzlement and faces up to 5 years in prison if found guilty. The Mt Gox hack precipitated the acceleration of security improvements on other exchanges, for wallets, and the architecture of bitcoin itself. As a rule of thumb, no small-to-medium scale crypto holders should use exchange wallets as a long-term storage solution. Investors and experienced traders may do this to take advantage of market fluctuations, but exchange wallets are perhaps the most prone to hacking, and storing assets on exchanges for an extended time is one of the riskiest ways to hold your assets.
In a case strikingly similar to the MtGox of 2011–2014, the operators of the BitGrail exchange “discovered” that approximately 17 million XRB ($195 million worth in early 2018) were missing. The operators of the exchange were inexplicably still accepting deposits, long after they knew about the hack. Then they proceeded to block withdrawals from non-EU users. And then they even requested a hard fork of the code to restore the funds. This would have meant the entire XRB Blockchain would have had to accept all transactions from their first “invalid” transaction that were invalid, and rollback the ledger. The BitGrailexchange attempted to open operations in May 2018 but was immediately forced to close by order of the Italian courts. BitGrail did not institute mandatory KYC (Know your customer) procedures for their clients until after the theft had been reported, and allegedly months after the hack was visible. They also did not have 2 factor authentication mandatory for withdrawals. All big, and very costly mistakes.
Case Study: Good Practice Binance, the Attempted Hack
During the 2017 bull run, China-based exchange Binance quickly rose to the status of biggest altcoin exchange in the world, boasting daily volumes that surged to over $4 billion per day in late December. Unfortunately, this success attracted the attention of some crafty hackers. These hackers purchased domain names that were confusingly similar to “binance.com”. And then they created sufficiently convincing replica websites so they could phish traders for their login information. After obtaining this vital info, the scammers created API keys to place large buy orders for VIAcoin, an obscure, low volume digital currency. Those large buy orders spiked VIA’s price. Within minutes they traded the artificially high-priced VIA for BTC. Then they immediately made withdrawal requests from the hacked BTC wallets to wallets outside of the exchange. Almost a perfect fait accompli! But, Binance’s “automating risk management system” kicked in, as it should, and all withdrawals were temporarily suspended, resulting in a foiled hacking attempt.
Software Wallets Web/Desktop/Phone/Exchange Advantages and Limitations
As we said before, it is inadvisable to store crypto assets in exchange wallets, and, to a lesser extent, Web Wallets. The specific reason we say that is because you need to deliver your private keys into the hands of another party, and rely on that website or exchange to keep your private key, and thus your assets, safe. The advantages of the less-secure exchange or web wallets, are the speed at which you can transfer assets into another currency, or into another exchange for sale or for arbitrage purposes. Despite the convenience factor, all software wallets will at some point have been connected to the internet or a network. So, you can never be 100% sure that your system has not been infected with malware, or some kind of keylogging software, that will allow a third party to record your passwords or private keys. How well the type of storage method limits your contact with such hazards is a good way to rate the security of said variety of wallet. Of all the software wallets, desktop and mobile wallets are the most secure because you download and store your own private key, preferably on a different system. By taking the responsibility of private key storage you can be sure that only one person has possession of it, and that is you! Thereby greatly increasing the security of your crypto assets. By having their assets in a desktop wallet, traders can guard their private key and enjoy the associated heightened security levels, as well keep their assets just one swift transfer away from an exchange.
Hardware Wallets Advantages and Limitations
We briefly touched on the features and operation of the two most popular hardware wallets currently on the market, the Ledger and Trezor wallets. Now it will be helpful to take a closer look into the pros and cons of the hardware wallet storage method. With hardware wallets, the private keys are stored within a protected area of the microcontroller, and they are prevented from being exported out of the device in plain text. They are fortified with state-of-the-art cryptography that makes them immune to computer viruses and malware. And much of the time, the software is open source, which allows user validation of the entire performance of the device. The advantages of a hardware wallet over the perhaps more secure paper wallet method of crypto storage is the interactive user experience, and also the fact that the private key must at some stage be downloaded in order to use the paper wallet. The main disadvantage of a hardware wallet is the time-consuming extra steps needed to transfer funds out of this mode of storage to an exchange, which could conceivably result in some traders missing out on profits. But with security being the main concern of the vast majority of holders, investors and traders too, this slight drawback is largely inconsequential in most situations.
Paper Wallets Advantages and Limitations
Paper wallets are thought by some to be the safest way to store your crypto assets, or more specifically, the best method of guarding the pathways to your assets on the Blockchain. By printing out your private key information, the route to your assets on the Blockchain is stored 100% offline (apart from the act of printing the private key out, the entire process is totally offline). This means that you will not run the risk of being infected with malware or become the victim of keylogging scams. The main drawback of using paper wallets is that you are in effect putting all your eggs in one basket, and if the physical document is destroyed, you will lose access to your crypto assets forever.
Key things to keep in mind about your Wallet Security: Recovery Phrases/Private Key Storage/2FA/Email Security
Recovery phrases are used to recover the on-chain location for your wallet with your assets for hardware wallets like ledgers and Trezors that have been lost. When you purchase a new ledger for example, you just have to set it up again by entering the recovery phrase into the display and the lost wallets will appear with your assets intact. Private key storage is of paramount importance to maintain the safety of your on-chain assets! This should be done in paper wallet form, or stored offline on a different computer, or USB device, from the one you would typically use to connect to the 2 Factor Authentication (2FA) sometimes known as “two step authentication”. This feature offers an extra security layer when withdrawing funds from cryptocurrency wallets. A specialized app, most commonly Google Authenticator, is synced up to the exchange to provide a constantly changing code. This code must be entered within a short time window to initiate transfers, or to log into an exchange, if it has also been enabled for that purpose.
You must always consider the level of fees, or the amount of Gas, that will be needed to carry out the transaction. In times of high network activity Gas prices can be quite high. In fact, in December 2017 network fees became so high that some Bitcoin transactions became absolutely unfeasible. But that was basically due to the anomalous network congestion caused by frantic trading of Bitcoin as it was skyrocketing in value. When copying wallet addresses, double check and triple check that they are correct. If you make a mistake and enter an incorrect address, it is most likely your funds will be irretrievably lost; you will never see those particular assets again. Also check that you haven’t input the address of another one of your wallets that is designed to hold a different variety of cryptocurrency. You would similarly run the very great risk of losing your funds forever. Or, at the very least, if you have sent the wrong crypto to a large exchange wallet, for example on Coinbase, maybe you could eventually get those funds back, but it would still entail a long and unenjoyable wait.
How to Monitor Funds
There are two ways to monitor you funds and your wallets. The first is by searching for individual wallet addresses on websites specifically designed to let you view all the transactions on a particular Blockchain. The other is to store a copy of your wallet contents on an application that tracks the prices of all cryptocurrencies. Blockchain.info is the block explorer for Bitcoin, and it allows you to track all wallet movements so you can view your holdings and all the historical transactions within the wallet. The Ethereum blockchain’s block explorer is called Ether scanner, and it functions in the same way. There is a rival to Ether scanner produced by the Jibrel Network, called JSearch which will be released soon. JSearch will aim to offer a more streamlined and faster search method for Ethereum blockchain transactions. There are many different kinds of block explorer for each individual crypto currency, including nanoexplorer.io for Nano (formerly Rai Blocks) and Neotracker for NEO. If you simply want to view the value of your portfolio, the Delta and Blockfolio apps allow you to easily do that. But they are not actually linked to your specific wallet address, they just show price movements and total value of the coins you want to monitor.
That’s not all! You can learn how to transfer and monitor the funds in and out of your wallet by clicking on the link.
To be continued!
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Crypto News Recap for the week ending August 3rd

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