press release. CryptoDATA TechThe Xiden blockchain developer and MotoGP Austrian Grand Prix title sponsor are joining a new project that will provide much-needed protections for crypto users until 2024. Cryptodata Tech has partnered with Martoms Brothers & Company to create a mutual guarantee fund that provides security to any crypto user and project that chooses its services. The project will be launched in September and will provide revolutionary products and services that protect users from hacking, fraud and mismanagement.
Martoms Brothers & Co offer a number of products that insure the assets of users and projects against losses of up to $1 billion (in the initial stages) on selected exchanges. The insurance process protects against hacking, protection of users’ wallets and potential losses due to malicious activities.
There are always risks in the crypto space, and this year has not been spared from catastrophic events. The market crash caused by LUNA caused a domino effect that bankrupted Three Arrows Capital, Celsius and many others. This, coupled with actions by key players like Elon Musk selling 75% of Tesla’s bitcoins, are prime indicators of how vulnerable crypto is, said Ovidiu Toma, CEO of CryptoDATA Tech. “This, along with the presence of numerous frauds and failed projects, is a strict issue of the need for rules and regulations to reign in the wild west that the crypto world has become. We want to help the crypto world recover by helping the industry regain the trust of users in the protection of their assets. We want you not to be blamed for fake hacking, and finally we try to underline the fact that user security is important and should be the norm, not the exception.
The Xiden Blockchain
Over the years, CryptoDATA has expanded its field of activity to include a wide range of blockchain-based solutions and projects. It is one of the most important projects. XidenA blockchain alternative for developers, introducing a new, low-power crypto mining method, which allows users to avoid excessive power consumption or manipulation with highly specialized equipment.
Xiden can be considered as the Internet of Things, which aims to provide a new concept of the Internet consisting of multiple decentralized networks. Therefore, Xiden provides a number of facilities, giving users the option to use integrated device resources such as storage capacity, computing power, imaging, and decentralized IPs to create and use apps or DAPs.
Xiden’s eco-friendly Smart Distributed Resources layer allows users to earn rewards in XDEN, Xiden’s token, based on their mining power by providing a decentralized building network that connects all their smart devices.
Idain – the first project on Xiden
Edain, the first project built on the Xiden blockchain, is an AI-powered knowledge-creation ecosystem that “makes knowledge accessible to everyone; a ‘flat’ human knowledge-sphere, basically. The Edain team realizes its vision of equal access to knowledge through its data collection and processing methods.” The goal is to empower all of humanity to collaborate in solving problems by developing “knowledge applications” that analyze unimaginable amounts of data and return results that users can use in many areas of their lives.
One of these applications is Decision Point Crypto, a large-scale blockchain-native project that integrates multiple indicators, natural language processing technology, and artificial intelligence.
Among the industries that can be applied, risk analysis is more important than insurance. More comprehensive knowledge, lower and better defined risk; And the deeper and more complete the equipment, the easier it is to avoid the mentioned dangers.
CryptoDATA Tech is a global ambassador for promoting data security and digital privacy globally. The company has pioneered the development of services and products based on blockchain technology, which enables private and secure communication between users, and provides various solutions for blockchain projects. From the premise of realizing digital privacy, CryptoDATA Tech offers unlimited both hardware and software cyber solutions to users who want to protect their personal information by providing tools and applications that provide enhanced digital security. Continuing in this vein, the company is working hard to bring blockchain technology to the world of motorsports.
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