Cybersecurity Cryptos to Bet on a Secure Future for Digital Assets
there are plenty of bad actors looking to take advantage of investors. So, investor interest is starting to fall greatly on cybersecurity cryptos.
Cybersecurity is an increasingly critical element of blockchain technology, but it's not really talked about. By definition, the blockchain is an unalterable, transparent and permanent way of storing data. However, many projects that operate on the blockchain are still left vulnerable to exploitations and hacks. Just look at all the exchanges, or NFT platforms that have made the news for massive losses. Just like with traditional financial markets there are plenty of bad actors looking to take advantage of investors. So, let's dive into some cybersecurity cryptos.
There are a variety of projects. Some are looking to help users spot malware. While others are helping investors by providing in-depth analyses of new cryptos.
If you are interested in the space consider one of these projects:
- Polyswarm (NCT-USD)
- Quantstamp (QSP-USD)
Polyswarm (NCT)
Polyswarm describes itself as:
“a launchpad for new technologies and innovative threat detection methods.” The platform hosts multiple cybersecurity projects that promote new means of spotting malware and other malicious activity.
The network hosts over 50 different engines built to detect malware. These engines all function differently, and many use their own proprietary tech. Polyswarm creates a marketplace for security engines.
Engine owners buy NCT to supplement the operation of their products. While other token holders can supply engine owners with additional NCT to bolster their projects. Owners can generate passive income by earning NCT whenever they supply relevant cybersecurity data and users can also farm NCT by supplying their own data to the network.
Quantstamp (QSP)
Quantstamp is an alternative auditor to CertiK. It has protected over $200 billion in assets through its audits, putting it not far behind CertiK’s $257 billion. Their self described mission is the following:
"Quantstamp’s mission is to secure the decentralized internet, and has protected over $200B in digital asset risk from hackers. More than 250 startups, foundations and enterprises work with Quantstamp to keep their innovative products safe."
Quantstamp is a private auditor that has worked with OpenSea, Solan and Binance. They are also working with Ethereum’s 2.0 upgrade. If the 2.0 roll out goes smoothly QSP could benefit greatly.
The reason I highlight these tow projects is because I'm invested in them. I have feeling that security will be a rising trend in 2023 as regulation takes center stage. There a plenty of great projects, but these are some smaller ones that are flying under the radar a bit. Both can be bought and traded on Coinbase. I recommend checking them out.