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Nov 29, 2023 Details
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thiefcrazy98
Very interesting to read, thank you for such detailed answers! I am just starting to study development in the field of crypto banking and am now trying to understand the specifics of working with blockchain networks. By the way, it seems to me that we should not forget about such things as data backup. After all, if the user does not have the ability to restore access to their account (for example, in case of loss of the device), this can create serious problems. Maybe someone knows what solutions exist for safe account recovery in such applications?Mar 24th, 11:21 am -
EvanDuke
The question is really interesting because security in a cryptocurrency banking development company is one of the most painful areas, especially when it comes to storing users' funds. Two-factor authentication (2FA) is, of course, good, but as you rightly noted, it may not be enough for such applications. It is important to understand that users, as a rule, do not always provide themselves with a high level of security in their daily lives, and therefore we, as developers, must create reliable security mechanisms that minimize risks. One of the most effective methods that I use is cryptographic technologies, such as data encryption, both on the client and on the server. For example, using the AES-256 algorithm to store private keys and other critical data is a standard for most serious projects. It is also worth thinking about transaction security. For example, in applications working with blockchain, you can use multi-signature contracts (Multisig) so that the approval of several participants is required to execute a transaction, rather than one, which reduces the risk of theft of funds. In addition, it is important to use proven libraries and frameworks for working with the blockchain. For example, Web3.js or ethers.js for working with Ethereum and smart contracts. For example, in my projects I always pay attention to regularly updating libraries and APIs to eliminate vulnerabilities that may arise with outdated versions.Mar 24th, 11:21 am
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