Cyber Security — Cyber Crime: new threats and how Multiven will address them
Bitcoin and other Blockchain cryptocurrencies have firmly been acclaimed to present a viable and exciting alternative to fiat currencies, eventually aiming to replace them. They can be transferred without the need for intermediaries and live on thousands of computers, all their laws being written in their code. They can thus operate independanlty from governments, companies and central banks, secured only by advanced cryptography.
Technological threats will not simply disappear:
Having seen a tremendous increase in value over the past year, the largest threat blockchain products and crypto-currencies are facing still comes from criminals, hackers and scammers that have been able to find a number of ways to exploit the systems and technologies underlying these technologies.
All parts of the ecosystem are at risk: single ICO investors subject to phishing and scams, large scale projects targeted through vulnerabilities such as the DAO which was emptied of its funds, and major exchanges under constant threat and malicious attempts to overtake their infrastructure.
Most recently, a cyber attack against South Korean currency exchange Youbit was aimed at disabling the transfer of crypto-currencies, which ultimately lead to Youbit filing for bankruptcy. Moreover, the physical removal of more than $400 million worth of tokens from Japanese based Coincheck in January has sent more shockwaves into how precarious leaving tokens on an exchange wallet can be.
On an more serious, low-level aspect, infrastructure attacks like the Eclipse hack against Ethereum endanger the inner workings of the networks themselves, by preventing nodes to communicate.
The blockchain technology cannot exist without these peer-to-peer exchanges, and the fact that nodes communicate using the public internet protocol puts them all the more at danger.
Here is how Multiven will secure the future of public blockchain nodes:
Multiven Group aims to limit the chance of this type of attack by reducing the attack surface of all public crypto-currency nodes. Multiven is the first and only apolitical and independent provider of decentralised software, maintenance and cyber-defence services for all Internet networks, irrespective of the underlying hardware and software. Strongly aligned with the transparency and freedom that Bitcoin brings, Multiven offers secure, reliable and forward-thinking innovation that is and will continue to revolutionise the security of modern technological infrastructure.
There are of course different types of cyberattacks which require adequate attention. We will bring our expertise to public blockchain nodes to counter what we expect to become their biggest threat in the coming years. The possibility indeed remains that Bitcoin traffic could be temporarily blocked, as there are currently only three Internet service providers which process 60% of Bitcoin traffic. More worryingly, there is an enhanced possibility of a centralised attack on Bitcoin nodes that could place active nodes under the jurisdiction of a single actor, especially from large state or state-sponsored organisms.
Our method of protection
As a 100% employee owned company, Multiven values an apolitical and entirely transparent framework:
- By deploying decentralised human-powered artificial intelligence towards defending public cryptocurrency network nodes from centralised cyberattacks. This will be a free service for all public cryptocurrency nodes, funded by the transaction fees of the marketplace. This technology is already deployed for corporate clients and is called PINGSTA. Renowned cryptographers and network engineers, like the late Hal Finney, are members.
- Maintaining the software that runs all other non-blockchain Internet networks globally. This will be a for-fee service, payable in Multiven Coins and fiat currencies, and will help reduce the attack surface of Nodes.
- By designing, launching and maintaining active Bitcoin full Nodes-in-Orbit (“NiO”) to serve as a spatial extension of the global node network that will be out of reach of earthly adversaries. The aim is to port the blockchain protocol using delayed-tolerant-networking and open source the development of nano-satellites carrying said nodes into space by 2022.
We are here for you
By recognising the most relevant pressures facing modern IT infrastructure and blockchain, Multiven strives to be the leader in innovative solutions and will continue to pioneer the fight against cyber crime and hostile network takeover attempts.
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Thanks for keeping in touch and we look forward to hearing from you soon!
The Multiven Team — Join us at www.multiven.io
