Crypto Trust Network(the new crypto security network)
“Stopping fraud before it happens”
With the continued success and growth of the cryptocurrency market, it's wider adoption and acceptance, all these has not had happened without large instances of misfortune, negative media and large opposing forces. Notable examples of instances of misfortune in the world of cryptocurrency include:the DAO hack, Bitfinex breach, the parity wallet incident(s) and of course, the infamous Mt Gox “hack.”
“Unfortunately, it has been documented that more than 30,000 people have fallen prey to Ethereum related scams this year alone, losing an average $7,500 each for a total of $225 million” which is a whole lot to lose in just a year.
Some may consider these an unfortunate side effect of the world changing technology. Others, however (primarily those affected) may not be so optimistic. While there have been some notable economic events caused as ripples from these events nothing has really bought cryptocurrency to its knees. Which is why as time is moving, investors should be assured security of their cryptocurrencies. The question remains, why is this still happening? Why are individuals and businesses suffering such a substantial amount of loss through scams, phishing, malware and hacks? As cryptocurrency moves more into the mainstream through traditional news sources, advertising and stories such as ‘the Bitcoin pizza’, we believe this will fuel the worlds insatiable demand for blockchain-backed cryptocurrencies. CTN might just have the solution to these problems.
CTN is a platform that offers a range of services including data collection, analysis backed by machine learning engine. This allows us to combine breach data and blockchain transactions.
The CTN platform:The CTN platform will offer four key components, each playing a vital role in the mitigation of theft and loss. Each component will work in unison in order for CTN to provide our integration partners high-quality data and services.
CTN Verified Address Book : The first service we offer will be the CTN verified address book. This will allow users of cryptocurrency wallets to submit meta-data to be stored against their wallet. Once submitted CTN will verify the information and have a compulsory process to prove a wallet ownership.
CTN Trust Rating : The CTN Trust Rating is a propriety algorithm which will be used to calculate a ‘risk-rating’ on a cryptocurrency wallet or transaction. The success of the service will be solely driven by the quantity and quality of data we can obtain which will be our key USP; based on this the CTN Trust Rating will incorporate and analyse data from a myriad of sources both public and private.
CTN Blockchain Insight Engine : The CTN Blockchain insights engine will be powered by machine learning, data analysis and deep learning. The engine’s job will be to consume blockchain data in order to pro-actively provide risk assessment data on blockchain transactions and wallets. This data will be used to empower the CTN Trust Rating 2.0 release; slowly feeding into our CTN Trust rating. As the quality of these insights improves the ratio of ML-backed insights engine data will increase.
CTN Integration Tools : Every single feature of the CTN will be fully integrable. The platform will offer fast, powerful access to the data, information and insights provided from each key feature. This allows our integration partners to build our CTN Trust Rating and CTN Verified Address Book into their services or applications.
For more details about the new Crypto Trust Network? Check their official website: https://cryptotrust.network/
My Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1162251
