Author: Patrick Kim, CEO and Founder, Sentinel Protocol
Happy New Year!
Digital currencies continue to grow in both popularity and value, as new blockchain-based applications are constantly being developed and brought to market. However, this popularity — over US$7b of ICOs have been raised this year — has made digital currencies an increasingly tempting target for cybercriminals. This is a huge issue given the anonymous and irreversible nature of cryptocurrency transactions, as well as the lack of an international notary system that investigates suspicious crypto transactions.
Yet, looking back at 2018, I’m confident that we’re much closer to our goal of creating a more secure cryptocurrency ecosystem. We’ve made strides in increasing the breadth and depth our suite of software solutions to protect valuable crypto assets of individuals and organizations. We’ve launched and improved many security solutions, including our ICFP API and the UPPward Chrome/Firefox extensions. Our partnership with Hacken will also facilitate the exchange of information, resources, and professional expertise to further the development and innovation of cybersecurity products and services.
We’ve also began complementing these solutions with professional support services, including suspicious incident and vulnerability analysis as well as network scanning. For example, in just the past three months alone, we investigated the Zaif, Gate.io, and Purebit incidents and published our conclusions on our blog. We hope such reports will help prevent the liquidation of stolen tokens, while also providing more information on the possible suspects involved.
It’s really incredible to look back at how much we’ve progressed this year, but I promise that we still have so much more work to be done.
We want to be the respected security regulator for blockchain. Our belief is that the blockchain’s distributed peer-to-peer nature can be used to fight back against hackers using phishing tactics to get sensitive information and security codes. A crowdsourced threat intelligence platform supported by an incentive system can be used to tackle today’s growing crypto threats. By collecting, analyzing, and validating information related to cyberattacks in real time, we can leverage our Threat Reputation Database (TRDB) to equip our users with a proactive cybersecurity defense.
This will prevent hackers from harvesting their ill-gotten gains through anonymous trading of stolen tokens via tumbling, mixing, or utilizing anonymous coins. This will also grow Sentinel Protocol’s profile as a threat intelligence data service provider for consumers and businesses alike.
The first event of 2019 would be the launch of our English forum, Uppsala Security Forum , on January 4. The purpose of this forum is to encourage discussion and support between the Uppsala team and members of our community.
This platform acts as a community space for disseminating official announcements, providing educational information about blockchain security, and a technical forum for exchanging knowledge on security-related insights. We also encourage users to report any bugs and to discuss any potentially malicious phishing URLs they found. Interested in exploring our community forum? Visit us here — https://forum.sentinelprotocol.io/login.
Lastly, we want to empower our customers in today’s fast-paced environment of innovation, creativity, and shorter times-to-market. Consumers today are expecting a hassle-free yet secure experience — and we want to help meet those expectations. We hope to understand and partner with our customers as we actively participate in leading blockchain events throughout the region, while working to incrementally build strategic partnerships.
In the future, we plan to focus significant resources on building a strong presence in key Asian markets including Japan, Singapore, and South Korea. Meanwhile, we are also supporting and assisting other markets expressing a strong interest in our technologies. We’ll also be looking to expand our partner and Sentinel ecosystem as we continue to integrate our cybersecurity solutions with crypto exchanges, payment systems, and wallets.
I’m psyched for 2019. Are you?