Blockchain is popular for its security features. What’s the backbone of its security? Cryptography is. Each participant on a blockchain network possesses their keys. This key is an equivalent of the digital signature. If a hacker alters a single transaction, all the peers present on the network will be immediately notified. The personal key corresponding to that transaction will become inactive. What it means is that to hack a blockchain network, the hacker has to alter more than 50 per cent of the network at the same time. Owing to its decentralized setup, blockchain data security and blockchain network security are often considered sophisticated and impermeable.
But, what does it mean for the security of cryptocurrencies and in terms of accepting crypto payments? Developed on blockchain security protocols, is the world of cryptocurrency and crypto payments that secure? If there are no significant cryptocurrency security issues, why do we need crypto security companies? What about cryptocurrency exchange security? We will discuss all these aspects of blockchain security, crypto security and crypto wallet security in this article.
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NOWPayments is the easiest way to accept online payments in a wide variety of cryptocurrencies. This service is custody-free, has competitive fees and is available worldwide.
- Over 50 cryptocurrencies are accepted on the platform with an in-built exchange feature;
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