There can be no better way to begin than this:

An initial coin offering (ICO) for a little-known startup project called CoinDash was abruptly halted today when it was revealed the sale had been compromised shortly after it began. In total, the ICO was able to raise $7.53m before the ethereum address it was using to solicit funds was altered to a fake one by an unidentified hacker, resulting in the ether going to another source.

Everybody who is familiar with the Cryptocurrency world heard about this attack. Hackers have changed the wallet address, and since investors can’t know for sure where they are sending their cryptos, attackers have stolen millions of dollars.

But this type of hacks might end soon. CryptoAlias is the project who aims to bring TRUST and SECURITY to Blockchain - https://www.cryptoalias.io/. Nobody will lose money anymore because of fake wallet addresses. Nobody will have to check ten times the wallet address before sending cryptocurrencies. Nobody will have a wallet impossible to remember which consists of many weird characters.

How could this be accomplished? Their solution is to give each wallet an identity. To elaborate, they allow each wallet to be associated with an unique, recognisable alias, which could be a friendly text, an image or an emoticon. It is similar to using Paypal or writing email: when using CryptoAlias, if an user introduces a wallet address, then an identity chosen by the receiver will appear and the user can know for sure that his funds are safe. The inverse is also possible: if a user already knows the receiver’s alias, they can type in it and the wallet address will be populated by default. Besides the unique alias, each wallet address can also be associated with a status and description, which can prove very useful as it will be illustrated in other posts.

The problem that they solve will save millions of dollars worth of cryptocurrencies which are stolen from Blockchain users. With CryptoAlias you save money, make Blockchain safer and friendlier, and at the same time you are still anonymous! You are not linking your name to your wallet, you are just giving an identity to your wallet like you put a license plate to your car. It is as simple as that.

For more information about the project, visit https://www.cryptoalias.io/