Specialized Features In P2P Cryptocurrency Exchange Script
The fascinating evolution of technology made a huge transformation in all fields. But at the same time, we need to think about, is that technology growth will make us smarter or quite.
Because nowadays cyber attacks were increased particularly in exchange business. But some professional techies helps to prevent from that cyber attack in cryptocurrency exchange business.
To avoid that mishap, cryptocurrency exchange script involves HOT & COLD storage and Multi-signature wallet features in it. These feature works for security purpose in exchange business.
Let's know about what is hot & cold storage?
Hot storage is a wallet that always connected to the internet. It stores limited liquidity in its storage but always available in the market.
Pros in hot storage:
1.Easily access the cryptocurrencies
Because nowadays cyber attacks were increased particularly in exchange business. But some professional techies helps to prevent from that cyber attack in cryptocurrency exchange business.
To avoid that mishap, cryptocurrency exchange script involves HOT & COLD storage and Multi-signature wallet features in it. These feature works for security purpose in exchange business.
Let's know about what is hot & cold storage?
Hot storage is a wallet that always connected to the internet. It stores limited liquidity in its storage but always available in the market.
Pros in hot storage:
1.Easily access the cryptocurrencies
2.User-friendly applications
Cons in hot storage:
1.limited cryptocurrency storable
2.Cryptocurrencies may be permanent loss due to cyber attack
Cold storage is a wallet provides to stores the cryptocurrencies in offline mode which is not connected with internet. It stores the large number of cryptocurrencies in physical devices like Trezor, Ledger Nano and Keepkey etc,
Cons in hot storage:
1.limited cryptocurrency storable
2.Cryptocurrencies may be permanent loss due to cyber attack
Cold storage is a wallet provides to stores the cryptocurrencies in offline mode which is not connected with internet. It stores the large number of cryptocurrencies in physical devices like Trezor, Ledger Nano and Keepkey etc,
Pros in cold storage:
1.store large amount of cryptocurrencies
2.Securely stored in offline
Cons in cold storage:
1.Vulnerable to human error, theft
2.Not accessible on the daily basis
Now. Let's enter into the Multi-signature wallet
1.store large amount of cryptocurrencies
2.Securely stored in offline
Cons in cold storage:
1.Vulnerable to human error, theft
2.Not accessible on the daily basis
Now. Let's enter into the Multi-signature wallet
Traditionally, digital currency was secured using the single signature key. This is the single private key allow the user to verify and broadcast the transaction onto the blockchain.
Why single signature key was to be replaced?
It's is a too risky factor. Because the whole process is fully dependent on that one private key. The key is fully framed with an alphanumeric.
Why single signature key was to be replaced?
It's is a too risky factor. Because the whole process is fully dependent on that one private key. The key is fully framed with an alphanumeric.
This key may be lost by human or misplace with characters,etc..
Finally, It will lead to losing the funds.
To overcome this security problem, the Multi-signature wallet was addressed.
What is multi-signature wallet?
Multi-signature wallet needs M of N signature to authorize the transactions. A user can decide the number of authorization people to sign off the transactions.
For instance, you have configured multi-signature wallet with two signatures. If you want to do the transaction to your wallet then you must be authorized by the two signature and it will be validated after that the transaction process will be carried out.
It is one of the best ways to protect your digital currencies. There are more secured exchange scripts are available at the marketplace.
Multi-signature wallet needs M of N signature to authorize the transactions. A user can decide the number of authorization people to sign off the transactions.
For instance, you have configured multi-signature wallet with two signatures. If you want to do the transaction to your wallet then you must be authorized by the two signature and it will be validated after that the transaction process will be carried out.
It is one of the best ways to protect your digital currencies. There are more secured exchange scripts are available at the marketplace.
Not only the above two features are available to secure your digital currencies.There are more features present in the P2P cryptocurrency exchange script in order to facilitate your exchange business. The features are order book,margin trading & lending,Multi-trade orders, API services,etc…
Thus the incredible features helps you to upgrade your exchange business one step ahead in the market.
Coinjoker team is continuously giving trustworthy results in their cryptocurrency exchange script with all advanced security features.
If you need any assistance, Visit this website--->>>https://www.cryptoexchangescript.com/
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