General News by Robert McPherson August 14, 2018
The blockchain technology has been an indispensable one that streamlines supply chain function and a variety of transactions globally. The new start-up called Krypti powered by MicroTokens would like to clinch valuable digital assets. Because in today’s competitive world where the digital currencies are more inclined towards the high level of cyber attack as well as hackings from around the world. This is why to have a secure system in place that stores digital currencies cautiously as per the valid source from Krypti. The Start-up, Crypto has organized Micro Token Exchange (MTE), a completely new way to secure and protect sensitive digital assets. It is founded by Steven Russo, he profusely give his comments towards the newly developed concept that represents a model shift protecting the digital assets facing any complex situations as specified above. With the ingrained possibilities and inclination towards attacks anytime on crypto exchanges, there is an immense pressure to have a secured platform or technology in place as said by Russo.
Further by reiterating over the matter he says that “The sad reality is that all data that is being stored utilizing traditional methods are at high-risk today”. “As we look around the global landscape today, with the advent of supercomputers and quantum computer systems, almost all of the existing security architectures are facing significant vulnerabilities, requiring a change to today’s thinking regarding how data is protected, especially digital currency. What needs to change is the way these sensitive digital assets are stored and secured.”
The encryption of the data system (supported by firewalls and intrusion protection) protects the data that are in a vault stored by the current storage solutions are more apt to hacking and cyber attacks at the system are not adequate enough to protect the data. Now that the Micro Token Exchange (MTE) solutions in place, it knocks out the data from the unfavorable circumstances as explained by Russo. On the technicality front, the MTE based solutions utilize Eclypses Micro Encryption to take away the data from the system so even the worst scenario cannot affect the data. Because the system allows only authorized users that are able to access and use the data in real terms.
For securing data with ease, Eclipses restores any size of data or file with a macro token that acts as a placeholder for the original data in place. The original data is encrypted in multiple segments that are stored in various physical locations, while the stored data can be encrypted one field at a time with the separation done with protection that makes sure that every piece of the sensitive data is protected individually and there is no possibility of a massive failure.
The technology that MTE has in place that protects data in motion where it works as a translator between the receiving and sending devices. It exchanges transmission of data or system command with a Micro Token before the packet is sent which is in turn translated towards its own destination. This is how the MTE streamlines the whole process that protects the sensitive data that are vulnerable to any complex situation. Krypti is organizing a completely new Wallet Solutions called KryptiWallet that uses MicroToken Exchange as well as Micro Encryption Methodologies with various layers in place that make sure that the system is undeniable. This is what differentiates it from other systems available in the market. With this the KryptiWallet Solution is expected to be available in the market early next year, it will be certified to various credit card industry standards in places like HIPAA compliance and PCI DSS Level 1, so that the sensitive information regarding data can be secured in a well compliant manner by following the best ethical standards.
The company wants to organize the MTE technology in such a way where the digital currency exchanges can use it through their own database management.
Let’s not forget that the blockchain technology will change the way we live and the way we do businesses through its variety of mechanism in place. How we use it always matters!!