Bitcoin Forum

Security

cryptocurrency securityCryptocurrency systems are based upon cryptographic security and cryptography. What this means is, rather than ‘trusting in the bank’ and its I.T department to keep your money and banking details safe, when you invest in cryptocurrency, you’re trusting in ‘the math’. This security means that it’s highly unlikely your account will ever be compromised.

The very nature of cryptocurrency which prevents it from being compromised is the ‘blockchain’ itself.  The security of the system is also safer than the others as it relies on a ‘proof of work’ system. This is to say that, once a transaction has been confirmed on the blockchain, it is set and cannot be changed. After confirmation, the transaction becomes part of an immutable history record of transactions; it cannot be reversed and can most definitely not be forged. More so, once a transaction has occurred almost everyone across the network knows about it at the same time which adds more emphasis to the security of the transactions.

yes certainly the economy is getting worse in the world. This is sharing and fixing. In the future, cryptographic currencies will be the savior of the worsening economy. To me, life depends on the improvement of the economy here.

I definitely agree that the internet is a world itself with so much information that you never really know which one to trust on. Security is key when the information of all your personal details are out there, and you want it to be safely managed. Hard earned money should be reinvested to keep the momentum alive for all the hard work that paid of behind the earning, so investing in platforms of such, the first thing anyone looks at is my money on safe hands? For this calculative analysis with the best teams at hand, showing great results for existing customers are the sole direction one should go for.

Yes I agree with you. People the wants to invest in a more trustworthy platform where their investments would be more secure and safe. As the cryptocurrency market is gradually progressing, more people are becoming interested to invest in this field. I think more rules and regulations must be made so that the incidences of frauds and scams decrease.

Security cannot just remain in the context of storing money, also what consequences here regarding allowing our money to be handled by centralized bodies. Cryptocurrencies already remove most of the security threats caused by systemic corruption and centralized control. In future it will be better I guess.

Blockchain technology has completely changed the world of technology for a long time, and many people use This technology, as it is safer than the banking industry, I think that for the future it is the right choice.

You need to restructure the title and you can understand why I am saying that. Coming to the topic itself, it is an obvious fact that cryptocurrencies allow people to conduct financial transactions online in an anonymous manner without any sort of interference from centralized entities like banks etc which is a huge advantage that drew me into this market in the first place. As time passes, people will rely more and more on crypto as an alternative payment method to FIAT.

I agree. I am looking forward that in the future, more people around the globe will use crypto currency by sending their remittances to their loved ones instead of using fiat with extra charges and taxes.

Certainly true. One thing that I need to point out though because it already happened before that a team had edited their blockchain and created more coins. So there's the insecure part of it still. I don't know if there are certain actions already had been taken for this not to happen again. It affects the price of the coin so its definitely the sad part of all these. Once deployed, there should never have access to the codes not anyone even the dev.

Blockchain itself is not security. A centrally managed  blockchain do have multiple ways to cheat. Even a decentralized blockchain can suffer from attacks like a 51% double spend.
Smart contracts are one of the way to prevent most and the blockchain is still developing to make itself transparent and auditable.

Fraud will increasing day by day on economical world. Blockchain offer some security to you . Then someone who wants to keep their money safe I hope crypto world is not bad for them because no third party exist here but it’s not totally invulnerable . 

Your point is agreeable. Crypto-space is a secure and free space to play and do with your investments. No system or place is as free and potential as Crypto space is. But there is something to consider, As like another Banking system, you cannot gain in this place if you don't have literacy in the digital economy and flows, flaws, opportunities, techniques and other many things to consider regarding Crypto- space. So, know before you go and gain to win.

I think, transecting in blockchain decentralized network will give more security in transection. And the nature of cryptocurrency which prevents it from being compromised. So I am encouraging every person to use blockchain technologies for secured transactions.

Most of the currency in crypto market are follow with  blockchain technology. That's why i think we are safe in crypto market. And we getting profit according our expecton sometimes it's not happen. Btw i agree with your opinion.

From my point of view the crypto security is better than the bank security. Bank security is depend on IT department. Crypto give different type of security system which have safe your data and transaction.

From my point of view the security system of crypto currency is much better than a security system of a bank. I think it’s more reliable than bank I.T department. Security system are based on cryptographic security and cryptography. So i think its more safer than the other system.

In my opinion you are right. Investments in the world are now very unsafe. We should use a platform for secure investment. I think the cryptocurrency is that safe platform. Where security base blockchain technology has been used.

As the world changes, Technology Turns big in the future. More and more people will understand blockchain and it's cryptocurrency.
 Btc dominance is always there cryptocurrency could jump high if bitcoin climb to the top.

Agree to what you said and would like to add my two cents to it. Since the invention of online transaction people have been falling for scams and lost a lot of money in the process. These sort of experience can be eradicated by blockchain technology which is known for its transparency and added security. These attributes will definitely turn heads and people may feel the need of moving to a safer platform like blockchain.

And actually where entering the 5th industrial revolution wherein. 5G internet is going to have a massive adoption in terms of speed- transactions,flexibility, durability, scability and actually by using Blockchain all of this are safe.

Okay, where did you copy this?  ;D

Transparent and yet secured. That is how I see bitcoin. But with other currencies? I doubt that.
There is too much changes they are making with it like inflating the number of tokens. Yet it will go to the blockchain and also being confirmed but yet why do they have the power to control the number of it?

Still staying with bitcoin. The number of it is lower by now and the demands will be heightened.

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There are so many great projects which will have great use case in the future with blockchain technology. We are at the begining of the new financial revolution and its normal that it is so speculative but things will change in upcoming months

The advantages of the internet age far outweigh the disadvantages. With the onset of the blockchain technology, a new era of internet age is emerging with security and trust as the main goals. Though human factors may not be eliminated completely, the blockchain technology will usher in more cryptocurrency industry, blockchain have the potential to diversify into other sectors where security issues need to be tackled.

I would very much like to live up to the time when everyone will be in cryptocurrency . This future.  Security is very important for our savings and investments.  The main thing that fraud was not more, but only less

I agree that soon the crypto currency will be everywhere and I am waiting for this moment, but many countries of the world prohibit crypto currency,and this is upsetting.