ethbox is the best security and privacy platform on the market for your transactions on the Ethereum blockchain. More people are using ETH these days to pay for services, purchase goods and more—but security is important.
While there are other privacy-based coins like Monero—hardly anyone uses these. They aren’t common coins for major transactions. ETH is fast becoming one of the most-used currencies on the planet, for all sorts of reasons but make sure your transactions are completely secure, at all times.
With ethbox, you’ve got all the protection you need to safely send and receive ETH affordably and securely.
How ethbox keeps you secure
ethbox uses a two-factor security protocol to keep transactions extra secure. All transactions use the ethbox smart contract to authenticate information about the transaction. For a small additional fee, ethbox also makes sure important information about the transaction isn’t made public on the internet (unlike many other solutions). The address of the sender and receiver of funds are obscured so that nobody else knows who they are. In any normal transaction, this sort of information is shown publicly, and it doesn’t create the safest way to send and receive ETH.
The power of ethbox’s passphrase technology
The use of a passphrase is crucial for providing the next level of security for ethbox users.
The passphrase can’t be stored in clear-text as this would not be secure, as the data in the smart contract can be viewed by anyone. To get around this, the smart contract stores the hash value of the passphrase.
Initial inputs that created the hash are impossible to retrieve and make the passphrases completely secure.
Passwords that are stored on databases without this kind of encryption can be hacked and retrieved. With ethbox, hacking is impossible and only the right people can access funds and complete transactions.
Using a Keccak-256 / SHA-3 hash value to encrypt passphrases, it’s impossible to reverse the process to unlock a passphrase.
These key features are actually underlying parts of Ethereum blockchain technology, so ethbox works perfectly in this setting—making passphrases unbreakable.
ethbox is able to validate any passphrase that it is told by a user without knowing the actual passphrase, an advantage over many other password protection protocols. This keeps it completely secure without the need for 3rd parties.
For users to retrieve funds, they’ll be required to enter the passphrase correctly. ethbox will compute this passphrase’s hash with the hash of the correct phrase it has stored in the smart contract, without the actual passphrase ever being known or made public.
ethbox offers the strongest protections in the world. Estimates show that while a brute-force attack might be theoretically possible, this would take around 10,000 years to actually work. That means breaking ethbox encryption is practically impossible.
On top of having the securest ETH transaction solution available, ethbox offers fees that are affordable and even free for smaller transactions.
