It has been just over a decade since cryptocurrencies came into existence and the furture of crypto security is already a thing.
Cryptocurrencies have experienced numerous moments of highs and lows. The future of cryptocurrencies and the developments in the crypto industry have always been the topic of various debates and discussions.
From a cryptographic perspective, the Fintech sector’s ever-increasing advanced technology and development tends to guarantee privacy. Moreover, Bitcoin’s value and the government imposed limitations could be determined when the catchment area gets widened.
Crypto security concers increase with tech
When it comes to crypto security numerous experts have been claiming that the key development area that firms are working on is blockchain security systems; they are focusing on innovative technologies such as Zero-Knowledge Proof.
These systems enable users to prove a statement is true by claiming its truthfulness. Simply put, it allows an individual to prove to some other individual that they are in possession of certain information, without revealing it. This technology could increase user privacy to manifolds.
These types of solutions are already being used for cryptocurrency Zcash, such solutions are becoming more and more popular and numerous firms are trying to implement this advanced technology in Bitcoin (BTC) and Ethereum blockchain systems to enable a significant improvement in the privacy and security of anonymous payments.
In addition, such advancements would not only improve security, but they would also make the transactions faster and cheaper, according to developer Jaq Sidhu.