Introduction
Yeah, well we were told that blockchain is unhackable. We believed it. But guess what? It was not like that for the entire time. Yes, it is true that Blockchain uses a pretty unique-secured technology, but it has its own type of vulnerabilities. And that brings some worst nightmares for the average innocent user, losing a lot of money. It’s a threat that’s growing exponentially every year. And the data supports that.
In 2020 alone, Users lost $3.8 Billion from their wallets. In 2019, the numbers were $2 billion. As the world rapidly embraces blockchain technology, Blockchain security is a real threat which we can’t ignore.
Luckily, there are some crypto projects being launched which are dedicated to blockchain security. We’ll review such a project today.
Introducing HashBit
Hashbit a crypto project focused on crypto security. It might sound like just another basic crypto project, but what makes Hashbit unique is, it has its own self dependent ecosystem. So, it doesn’t has to rely on any third party wallets, exchanges or marketplace, which bring the chance of data breaching to zero.
How Hashbit solves problems:
Hashbit takes up some common problems and proposes decent solutions to that. Let’s see some example:
Solving the Blockchain Security Issues: But How?
If we look at the data breaching incident we can see that most of the breaching happens on the way of transferring data using private keys or so but Hashbit uses only with own wallet. Which keeps everything secured.
For proof-of stake, the Proof of Stake model used by HBIT, network security is governed by peers having a stake in the network. The incentives provided by this algorithm do not promote centralization in the same way that Proof of Work algorithms do, and data shows that the HBIT network has remained highly decentralized since its inception: a large number of unique accounts are contributing blocks to the network.
The Features
+ Let’s talk about the major features that HBIT has to offer. Some of them are really unique. Let’s have a look:
Completes a security cycle
Token
Exchange
Good Things, Bad Things
Final Verdict
Finally, we can say that, HBIT is here to serve a very specific purpose, which is crypto security. And it does it very well. Also, some upcoming features will make this project literally unstoppable. Let’s hope for the best and best of luck, HBIT!
Video Link: https://www.youtube.com/embed/tBCfEYkmQnE
Media ContactCompany Name: HashBit.orgContact Person: Giorgio S.Email: Send EmailCity: MilanCountry: ItalyWebsite: https://chain.hashbit.org/