Topic: Multi-Sig Wallet, A Solution to The New Blockchain Hacking (Read 81 times)

[ANN] Multi-Sig Wallet, A Solution to The New Blockchain Hacking

According to one of the major website from cryptocurrency called Coin desk, “A report from Trend Micro, a world-class security firm indicates that the world's largest cryptojacking crime, which aims at illegal digging and hacking, has reached 787,000 in the first half of this year.”
This is more than ten times the number of cryptojacking crimes detected during the same period last year which was only 745000. In recent years, despite the fall of the virtual currency market, hacking for hunger through virtual money has evolved in various ways. Is there any countermeasure?
In most cases, hacking of cryptocurrency is attempted by stealing private or public key or modifying them. What if the key is meaningless? Experts say multisig is the most obvious methodMulti-sig is a method in which multiple keys must be combined to create a new key, in which each key must be called and signed at the same time to create a transaction.
In this case, even if a hacker hacked into an individual member's key, he or she cannot trade without stealing all keys that are combined. However, in this case, if multiple keys are stored in the same place, there is no meaning of diving the keys.If we decentralize the location and then keep it then it can easily be traded.
An example of this multi-sig being applied to cruptocurrency wallets is Berith Wallet. The wallet divides the key by the user and Berith to avoid the risk of a single cryptographic key being hacked and coins being stolen.
And when coins is traded directly within wallet, the customer's key and valid key are simultaneously called. Berith Wallet designs multi-sig for transaction key authentication and protects cryptocurrencies stored in wallet through triple authentication such as user account authentication, private key authentication, and payment transfer authorization password.
Meanwhile, Ibizsoftware, which has developed Berith wallet, is an IT company with more than 10 years of SI development know-how. In 2014, Ibizsoftware has been certified for e-government standard framework compatibility. In addition, Ibizsoftware has successfully carried out large-scale domestic projects such as SK Planet ONE ID project, which has the largest number of members in Korea, and SSO and IM projects of CJ ONE, technical support and consulting.
Reporter: Hang Jun Jo

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