Ensuring end-to-end security is extremely crucial for the successful operation of any company big and small. Yet the very necessity becomes the pain point for companies and poses as the biggest existential threat if not addressed appropriately. Security attacks have occurred in smart contracts, consensus mechanisms, trading platforms, wallets, mining, and many more. Issues pertaining to digital asset security is the serious roadblock of the hour. According to statistics, since 2011, the cumulative loss of security incidents caused by Blockchain vulnerabilities has exceeded $2 billion.
This is where Security Chain enters the picture, with presences across China, Singapore and Sillicon Valley, committing to cater a comprehensive Blockchain security ecological defense system– Security Chain (SECC). It has now become essentially strong, backing all the major exchanges, wallet and Blockchain industry.
Mingo Chin1, Security Chain’s ecology development officer, said: “We are in the revolution period in which the Internet infrastructure is gradually being replaced by Blockchain. More and more enterprises are accidently ignoring the insecure risks of Blockchain technology while being focus on the Blockchain technology. Therefore, the attack and defense of Blockchain security is considered to be the potential chance in the market.”
What is the SECC project?
The Security Chain Coin (SECC) project that has been formally established in 2018, is a brand new ecological system based on Blockchain concept and technology. This eco-chain includes security and defence of underlying operating system, Blockchain IoT and cloud-computing equipment. It uses advanced technology of machine learning to realize Blockchain anti-virus, Blockchain anti-fraud, mobile device security protection, etc. And, the SECC is the native token that can be used throughout the whole security eco-system.
Eco-system of Security Chain, through the issuance of SECC token, encourages global Blockchain security elites, top teams, and various organizations to participate in the Blockchain security upgrade operations, and jointly construct and continuously improve the global Blockchain security ecosystem.
As the development of Blockchain security industry is still far behind the development of the Blockchain technology application, Security Chain is aiming at becoming the pioneer of this industry, as well as establishing itself as the foremost runner in the global Blockchain security ecosystem.
Security concerns highlighted by Security Chain
Before resolving the security issues, it’s crucial to pin point the hiccups that are speed-breaking the industry. Security Chain has identified the crucial Blockchain security issues, reflecting upon the five aspects – algorithm security, protocol security, implementation security, usage security and system security.
There are three fundamental reasons for the growing security risks of the Blockchain:
- The value of security white-hats (hackers) has been seriously underestimated for a long time. Being hackers, they can earn far more returns than they can by being white-hats. People are tended to be hackers rather than white-hats, who uphold justice in Blockchain security.
- The profits of Security products are monopolized by centralized companies, and users have to pay high price but cannot obtain effective security service.
- Due to the closure identity of the market, the security white-hat could only obtain low income, meanwhile the community of elite security white-hats is not willing to cooperate with large companies.
How is Security Chain strategizing to fill the security pot holes?
Security Chain has built the project community ecology with the following five dimensions: Blockchain operating system, security development community, advanced security technology research, investment incubator business empowerment, open-source and economic sharing.
Among them, the technology solution can provide deep reinforcement security system; the certificate economy system and settlement technology can solve the problem of uneven value distribution in the traditional security industry, to reshape the labour relations in traditional industry, and to solve original cause of security problems.
The company reshapes the relationship between white-hats (hackers) and security organizations via the community mechanism, which will make it possible to upgrade the ecological structure of Blockchain security from the bottom, so as to solve the security crisis that will be encountered in different industries in the coming future.
What sets Security Chain apart and ahead of others?
The five dimensions are the core factors that make Security Chain a forerunner in the industry.
- Security Development Community
Security Chain has established a global Blockchain security development community. The first partner of the community – the SC wallet, has been released beta version and being tested. As a digital currency wallet with deeply security hardening hardware and software (hardware wallet + software wallet + corporate wallet), the company strives to resolve the security problem of wallet in each system. It achieves the deep reinforcement for both hot wallet and cold wallet from the user side, providing services such as 99.98% anti-intrusion, money-losing investment protection, and distributed defence.
- Advanced Security Technology Research
For the main security issue in Blockchain, the security research system of Security Chain is at the forefront of advanced technology, being committed to solving the most basic security technology architecture problem and developing global common security standard protocols, to continuously improve the entire Blockchain security to a much higher level. As the newest results achieved by security research system, Security Chain manipulates new technology of trusted identity authentication framework model, hardware isolation and high-strength cryptographic algorithms.
- Open-source and Economic Sharing
Based on Blockchain technology, Security Chain has established a new security ecosystem, which can solve serious issues such as the underestimation for the value of white hats, the imbalance between offensive and defensive interests and the security of resources and value monopolization caused by market closure. The Blockchain settlement technology and economic system can reshape the profit distribution model and reconstruct the SECURE node economy.
Explaining the Eco-system of Security Chain, Chin said: “Eco-system of Security Chain, through the establishment of SECC token, will encourage global Blockchain security elites, top teams, and various organizations to participate in the Blockchain security upgrade, then jointly constructs and continuously improves the global Blockchain security ecosystem system, creating a closed-loop Security Chain economic system.”
- Investment Incubator Business Empowerment
In the future, Security Chain will continue to develop its own ecosystem through investment incubation, and attract more elite teams to join the development of DAPPs application design.
Security Chain has participated in investing in various Blockchain projects including digital wallets, exchange, first-tier fund investment, and secondary trading team, etc.
Paving the path for future
Security Chain has so far already attracted many well-known investment institutions, such as Brink Asset, Genesis Capital, JRR Crypto (early investors of BNB), Consensus Capital, TB Capital, JIC Capital, PA Capital, Miracle Capital, Haofang Ventures, Panda Capital, Back Fund etc. Last month the first security eco-chain partner – Security Chain Digital Wallet, has released beta version and began to test.
With the vision to become the one-stop security service provider in the industry, the company is expanding their service offerings and is about to launch a security node project of the security ecosystem in August 2018. With more technological expansions on the cards, Security Chain is looking forward to security community development project that will be launched in November 2018. In January 2019, the project of Security Chain eco-system will also be initiated.
- Mingo Chin is also an expert on Blockchain network security, a Star Security Capital partner, founder of Cloud Blockchain Technology Inc. and a Forbes 30 under 30 title winner.
To know more about Security Chain, visit the website.
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