Home Crypto News Tezos Taps Hub Security to Secure Validators’ Stake

Tezos Taps Hub Security to Secure Validators’ Stake

4 min read

Tezos Israel has collaborated with cybersecurity agency Hub Security for the event of a bodily safety module to shield the encryption keys of the Tezos community validators, the businesses solely knowledgeable Finance Magnates.

The two corporations have launched the brand new safety function right now that can enable the community validators, popularly generally known as bakers, to retailer their encryption keys on a safe cloud or a bodily field.

“Contrary to Bitcoin, the Tezos network security is not based on consuming electricity, but on proof of stake,” Tezos Israel CEO, Eli Terdjman mentioned in an announcement. 

This consensus mechanism requires the Tezos community bakers to maintain giant sums of Tezos digital forex to validate the transactions.

This improvement got here with the rising threats of assaults on the blockchains. The corporations imagine that the safety infrastructure will forestall any theft or abuse of the encryption keys.

Suggested articles

Are Alternative Payment Methods the New Banking King?Go to article >>

“Many bakers use ‘cold wallets’ – separate pieces of hardware that hold encryption keys and have to be physically connected to the computers running the network,” Terdjman defined. “Today, the collaboration between Tezos Israel and Hub Security allows us to distance the keys a step further from the computers running the network and place them in a secure environment while allowing the network to keep running flawlessly.”

Securing the Network Validators’ Stake is a Priority

Tezos utilized the {hardware} safety module (HSM) developed by Israel’s Hub Security. This safety system is guarding the servers with a mixture of bodily and community safety features.

The safe servers are managed by a mini-HSM and the community validator held distant management, which gives a bank-like two-factor authentication.

Eyal Mose

“The Tezos network is becoming a very significant player with cryptocurrency transfers amounting to more than US $200 million a day,” Eyal Moshe, Chief of Hub Security, mentioned. “With such large digital assets, you can no longer use improvised solutions.”

“The solution we developed is based on our HSM technology, while the private encryption keys are kept in an impenetrable physical box or a secure cloud storage. Encryption keys are only accessible with a unique device and a computer, both of which do not hold the keys and are only exposed to the network when strictly necessary.”

Load More Related Articles
Load More By admin
Load More In Crypto News

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

MicroStrategy shells out $650M on another Bitcoin investment

Business intelligence agency MicroStrategy has made another hefty Bitcoin (BTC) investment…