Cryptocurrency, along with blockchain technology in general, has developed an ironclad reputation for security. And for good reason too – when everything is working smoothly, as we all know, it offers the most secure, decentralized method for trading the world has ever seen. But, hearing that, countless enthusiasts make stupid mistakes that cost their companies and platforms millions. This is the message that Russian experts Mikhail Filatov and Dmitri Vasilev want everyone to remember, especially when dreaming up your own currency or ICO.
Over the past few years, online crooks have made off with hundreds of thousands of dollars’ worth in various cryptocurrencies, all from different exchanges. This is a high-risk industry and it can attract big investors who are ready to lose a little on their search for something big – this draws in hackers and other malevolent actors who are interested in fleecing you for your hard-earned tokens.
This, Filatov says, will not do. This is why it’s so important to be aware of the resources that are out there which can protect your investments. ICORating is one of the best on the market.
What is ICORating?
ICORating is an analytical agency whose sole purpose is to decipher the world of crypto so that their readers can find the best and most relevant information as quickly as possible. This not only includes mentions of the biggest newsmakers of the industry (although it does), but also in-depth trend analyses as well as security reports.
The company takes great pride in its independence and guards it fiercely. It started collecting vast reams of data since 2016 and specializes in the analysis of all stages of the crypto process: ICO, STO and post-ICO. They also develop strategies for crypto entrepreneurs who seek them out as consultants.
All of this leads to a rating given by the company to various currencies and ICOs – this allows for a certain degree of confidence when their readership goes about making decisions of where to invest and how. Their security reports and ratings are crucial to making sure that newer investors are as informed and empowered to make independent decisions. This is what draws experts like Dmitry Vasilev and Mikhail Filatov to reply heavily on resources like these. When you have a strong resource, why wouldn’t you use it?
How To Use The ICORating Security Features and Analyses?
“Making sure your investments are secure,” says Filatov, “is crucial to moving forward with confidence.” One of the ways that he does so is by starting with the ICORating Exchange Security Report.
“It’s a great way for newer investors and ICO planners to get up to speed with the industry and its potential snags,” says Dmitri Vasilev. “The report is free and covers a broad range of issues that one needs to be aware of.”
While the report is wide-ranging, it deals in part with issues such as console errors, registrar and domain security, user account security and web protocols security.
“While it might seem like basic internet security practices,” Mikhail Filatov continues, “these all form a wall that protects you from hostile parties who want to abuse you and your ICO for their benefit. If a little bit of research can make you more resistant to that kind of attack, why wouldn’t you want to have that kind of information in your arsenal?”
What Things Do ICO Organizers Need To Be Aware Of?
While the security report goes over various scenarios in detail, there are a number of general trends that can be mentioned without going too deep.
The first issue is potential vulnerabilities that come in from the user’s side. When someone makes a bid or gets involved in the ICO, every single interaction they make with a platform can become a vulnerability to hostile parties. Taking simple measures to increase user account security can save a lot of hassle down the road – making sure that all user passwords meet a certain standard of security is one example of a strategy to ensure confidentiality and integrity.
Then come the different ways that security can be bolstered on the site’s end. “Everything from your domain to your web protocols can become an Achilles Heel if you’re not careful,” writes Mikhail Filatov. “When you design a platform and site for an ICO, you need to be aware of the steps you can take to ensure your safety and the safety of your brand.”
“While user behaviour is beyond your control,” Dmitri Vasilev agrees, “taking steps to increase security on your end is entirely up to you.”
Filatov and Vasilev are major proponents of crypto security in Eurasia and hope to see best practices become more widespread as many new platforms spring up across the continent.
“Trusted sites like ICORating exist for a reason, and are successful for a reason,” says Filatov. “We don’t have to reinvent the wheel to get the quality we’re seeing here. So we should take advantage of it.”
Given the wide reach and audience these experts have in the CIS and beyond, they can rest assured that indeed these best practices are reaching ever-widening audiences.