According to a recent report, the global Cryptocurrency Market estimated at USD 792.53 Million in 2019 is expected to reach USD 5,190.62 Million by 2026. The value of the cryptocurrency market topped $2 trillion for the first time on Monday, 26 April 2021, driven by a rally in ether, the second-largest digital coin.
Source: CNBC
Analysts have indicated that the growth and development of cryptocurrency will continue to witness an upward trajectory as the blockchain technology powering it becomes more advanced. Companies come with innovative solutions against the challenges of its adoption on a global scale.
Aurix’s crypto exchange program was essentially conceived by computer geek and aficionado Majed Mohsen, who believes that the most significant impediment against the worldwide adoption and development of the global crypto market lies in its complexity. Aurix’s crypto exchange program seeks to demystify crypto transactions by adopting innovative, cutting-edge technology to make crypto transactions as easy as possible.
Security in crypto-based transactions
Apart from its high volatility, one of the most daunting challenges against the global adoption of cryptocurrency is security. According to studies, hackers cryptocurrency worth about 1.1 billion dollars in the first half of 2018. Conducting crypto transactions on platforms with weak security architecture is akin to banking in an unsecured banking hall.
About 12,000 markets on the dark web offer cheap, extremely easy-to-use tools for sale to hackers who use these tools to enable crypto theft further, leaving their victims with tales of woes. A weak security architecture robs the crypto space of the much-needed confidence it needs from customers and prospective customers.
There is a strong need for a strict regulatory framework governing the crypto space to realize its full potential, boost investors’ confidence, and compete favorably with bonds, stocks, debentures, and other forms of investment. The owners of crypto exchange platforms should be made liable for crypto theft. They must provide adequate measures to protect customers from crypto theft.
Global crypto adoption will only be a pipe dream if hackers continue to hold sway, stealing billions worth of cryptocurrency unabated. The cryptocurrency space, like everything else, depends mainly on security to thrive.
Aurix’s security architecture
Adherence to highly high-security standards is at the core of Aurix’s crypto exchange system. With its innovative decentralized Aurix chain powered by advanced blockchain technology, customers’ cash is kept safe; payments will be automatically processed even if the whole system crashes through a cashback process.
Taking a clue from the traditional banking system, it is confident that cashback will boost the worldwide adoption of cryptocurrency as customers are guaranteed to get their funds even if the system crashes. Apart from ensuring cashback, the Aurix chain powers the system’s crypto exchange ensures hitch-free payments and a shopping experience.
Aurix will continue to expend scarce resources to update the system’s security architecture to prevent security breaches and the resultant loss of customer’s crypto assets. The goal is to boost customer’s confidence in Aurix’s exchange platform and cryptocurrencies in general.
Aurix features a comprehensive multi-layered security system that uses firewall protection to efficiently ward off any harmful malware that may interfere with customers’ transactions and funds.
The Aurix system’s customer care services are top-notch — all issues are addressed as soon as they are reported. Aurix’s lofty vision to conquer the crypto space through cutting-edge innovation starts from its complex, hack-proof security architecture.
Conclusion
The cryptocurrency space has not seen its best days; research and development on the technology powering will continue to ensure its mass adoption. Adopting the Aurix Chain protects customers from hackers who plant malware on crypto exchange platforms to steal customers’ funds. An analysis of Aurix’s security architecture reveals that it was built to ensure customers suffer no loss even if the system crashes. The whole system was created using advanced, futuristic, and exclusive cutting-edge blockchain technology.
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