Security being the keyword here has always been an issue in the Centralized exchanges. To overcome the ever existing problem, Bitstraq exchange employs the use of Sentinel Protocol. This blog post will cover ground on the concept of Sentinel protocol and how it engages with Bitstraq exchange.
The centralized exchange is often plagued with issues such as :
Continued Hacking attempt
Centralized exchanges are often the target of hackers who would find a loophole and exploit it for funds misuse, trade leakage and much more.
Bad Actors or traders
Bad actors are potential hackers and their attempts on the exchange is harmful. This can lead to trade leakage and an array of attacks on the exchange.
Fake Trading Volume
Bad actors can cause a fake trading volume by distorting the price, inflating it and manipulating it thereby obscuring the original trade volume.The above-posed security issues continue to plague the centralized exchange, and Bitstraq exchange introduces the Sentinel Protocol to overcome the roadblocks.
What is Sentinel Protocol?
Sentinel protocol is a security intelligence platform for blockchain or exchange that collects hacking reports and delegates it to a panel of trusted security experts who will confirm the authenticity of the incident and register the received information to Threat Reputation Database. It is intelligence-based threat analysis algorithm that includes a variety of features such as Anti-theft, detecting malformed or bad actors, threat prevention and transaction traceability. It contains three crucial functionalities that, on the whole, make the Sentinel Protocol.
Threat Reputation Database
The threat reputation database keeps threat information in a single database. The database is stored in a global platform where the threats are stored in the database by anyone and get incentivized in return.
Security Wallet (S-Wallet) Integrated with Machine Learning
The sentinel protocol also detects suspicious activities, blacklist wallet address, scam sites and use Fraud Detection System (FDS). The underlying Security Wallet not only secures the trader’s funds but also protect them against various wallet related attacks. It provides data filtering, wallet address filtering and URL filtering.
Malware Analysis Sandbox
Sandbox is a security mechanism that runs unverified programs on a separate virtual machine without affecting the host. Sentinel protocol’s sandbox overcomes various roadblocks by high throughput, malware detection and higher throughput in case of sandbox’s malfunctioning.
Summing-up
Bitstraq exchanges hold security over anything else for establishing a secure platform for the traders and remove any apprehension regarding security. Get your hands on the BAQ tokens and involve in the Bitstraq exchange to avail the benefits underlying the exchange.
Know more:
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Twitter : https://twitter.com/bitstraq
Telegram : http://t.me/bitstraq