Good thing you asked a question about having confidence in storing our coins on those platforms. Once I am able to have access to my private key on the platform, then I don't have any problem storing my coin with them since I know that those wallet don't have a central wallet that controls every user coins.
If for instance the website seize to exist, that doesn't mean I won't be able to access my coin, once my private key is intact, my coin is also intact.
Topic: Skelpy-Take Control Of your Portfolio’s Privacy (Article) (Read 114 times)
The concept of Skelpy's project is very good, certify your cryptocurrency
The goal of the Skelpy project is to create a completely decentralized and transparent blockchain in which all portfolios have a certified digital identity.
The goal of the Skelpy project is to create a completely decentralized and transparent blockchain in which all portfolios have a certified digital identity.
In today’s world of cryptocurrencies, if you want to start with, very first thing you need is Wallet to store your cryptocurrencies. Now there are various wallets available including software and hardware wallets.
Hardware wallets are the most secure at the moment but huge cost behind it, prevents normal users to use it. On the other side, software wallets (Desktop, iOS, Android) are cheapest or even free to use.
But do you have that confidence while storing your coins or tokens in it? Do you know if the wallet you are using is not vulnerable to scams of other security threats?
Then how a wallet can gain trust of you? Its privacy. Yes, buy maintaining privacy at desired level wallet provider can assure its users that their data including cryptos are in safe hands.
So, is it possible for wallet providers to have different levels of privacy based on the coins or tokens?
As we all know, within the digital signal world, there are only two possibilities, 1 or 0, or on or off. You get it or not get it.
With the current blockchain technology we have the biggest challenge of maintaining the balance between privacy and transparency.
A crucial characteristic of privacy in blockchain depends on what type of cryptography we use. For cryptographic functions two types of keys are used for encryption and decryption. So, the privacy lies in the use of private and public keys. Blockchain systems use asymmetric cryptography to secure transactions between users.
And here comes Skelpy.
If you like this article so far, to read full, please check my complete article on medium.
A clap will be appreciated.
Thank you.
“Skelpy-Take Control Of your Portfolio’s Privacy” by ForexandCryptoAuditor https://link.medium.com/maiZVCdLZU
Hardware wallets are the most secure at the moment but huge cost behind it, prevents normal users to use it. On the other side, software wallets (Desktop, iOS, Android) are cheapest or even free to use.
But do you have that confidence while storing your coins or tokens in it? Do you know if the wallet you are using is not vulnerable to scams of other security threats?
Then how a wallet can gain trust of you? Its privacy. Yes, buy maintaining privacy at desired level wallet provider can assure its users that their data including cryptos are in safe hands.
So, is it possible for wallet providers to have different levels of privacy based on the coins or tokens?
As we all know, within the digital signal world, there are only two possibilities, 1 or 0, or on or off. You get it or not get it.
With the current blockchain technology we have the biggest challenge of maintaining the balance between privacy and transparency.
A crucial characteristic of privacy in blockchain depends on what type of cryptography we use. For cryptographic functions two types of keys are used for encryption and decryption. So, the privacy lies in the use of private and public keys. Blockchain systems use asymmetric cryptography to secure transactions between users.
And here comes Skelpy.
If you like this article so far, to read full, please check my complete article on medium.
A clap will be appreciated.
Thank you.
“Skelpy-Take Control Of your Portfolio’s Privacy” by ForexandCryptoAuditor https://link.medium.com/maiZVCdLZU
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