Consentium Doubles Up Security with ThothTrust
After revealing its core team behind the crypto chat app, Consentium announces security partnership with ThothTrust. As of 1st March, ThothTrust will be providing the overall security for Consentium, mainly focused on security for its wallet encryption.
Consentium is a new chat application, which is the first to reward its users with cryptocurrency for virtually any group or community they create, which also serves as an E-Wallet. The existing security measures for its app is the high-level chat encryption with Transport Layer Security and a low-fee and secure C2C digital cryptocurrency transfers. The transactions taking place through the redistribution pool will all be stored in a cold offline wallet for extra security.
Consentium will be using ThothTrust’s Customizable Secure Cryptography (CSC) product, which provides a consultation and customisation service to secure its critical crypto assets.
What this secure hardware does is to store, process and execute cryptocurrency transactions for Consentium and its users. Users would also have access to these services via secure identification.
“Consentium has always valued security highly. This partnership with ThothTrust affirms our commitment to offer our users the highest level of security. ThothTrust is one of the leading security vendors and their team has displayed an impressive in-depth knowledge regarding security,” explains Chris Low, CTO of Consentium, on the selection of ThothTrust as the security vendor.
The importance of security when it comes to a digital wallet is undoubted. The high-profile cases saw losses as high as US$421 million. With the most recent case resulting in a developer requesting for US$35 million refund from a hack reversal, which was caused by weak passphrase and security. These incidents amplify the need for better and higher security, especially when it comes to cryptocurrencies which demand is always on the high, and people are always looking for methods to mine more, or in a way or another, acquire more coins and tokens.
“Going forward, Consentium would continue to be at the forefront of security implementation and can safely count on ThothTrust to meet our stringent security standard,” says Low. With the security of Consentium and its users in good hands, it can fully focus on developing into a safe and secure platform for communities.
