Interesting project, I know majority of crypto-users will agree with me that there is a gap there for INCHAIN to fill, I've not read your whitepaper, I do plan to read it, but this question comes to mind, in case there is an hack attack on an exchange how will you know if the attack is an inside job or not, and is it not possible for an exchange with liquidity problem to hack itself knowing fully well there is one insurance fund somewhere, how will you figure out and resolve such issues. Thanks
This is a very good one, many thanks.
First of all, for those who have got insurance policies it does not matter whether it was an inside job or vice versa. In any case they should be reimbursed.
Secondly, If an exchange got hacked this would dramatically decrease its ranking. Once the ranking is decreased, the cost of the policy is going up and the same happens with coupon rates.
We plan to begin with the most established exchanges/wallets that have the highest rankings. The ranking system takes into account how long the exchange is up and running, whether it was hacked before and what the security measures are.
