PRESS RELEASE. PRESS RELEASE. CryptoDATA Tech is the Xiden blockchain developers and MotoGP Austrian Grand Prix title sponsor until 2024. They are now joining a new project that offers highly sought-after protections for crypto users. CryptoDATA Tech has partnered with Martoms Brothers & Co as well as several reinsurance companies in order to create a mutual fund that provides safety for crypto users and projects.
Martoms Brothers & Co offers several products to insure user's and project's assets against losses up to $1 million (in the initial stages) on select exchanges. This insurance covers hacks and wallet defenses as well as protection against potential malicious actions.
span style="font weight: 400 Risks in the crypto space are always present, and this year has been no exception. Three Arrows Capital, Celsius and other banks collapsed due to the market crash caused by LUNA. Ovidiu Toma, CryptoDATA Tech CEO, says that this, along with other actions taken by important actors such as Elon Musk selling 75% Tesla's Bitcoin to him, is a prime example of how vulnerable crypto can be." This, along with multiple scams and failed projects make it clear that regulations and norms are needed to control the wild west that is the crypto world. By helping users to protect their assets and restoring trust, we want to help the crypto industry bounce back. We don't want developers to blame real hacking for thefts or failures in projects. We also want to emphasize the importance of user security and make sure it is the norm, not an exception ."
The Xiden Blockchain
CryptoDATA has grown its activities to include a variety of blockchain-based solutions over the years. Xiden is a low-energy alternative to crypto mining that was developed for developers. It allows users to avoid being constrained by high energy consumption or very specific equipment.
Xiden is an Internet of Things-native Blockchain. It aims to create a new internet concept that consists of multiple decentralized networks. These networks will act as a single network connecting nodes controlled by individuals. Xiden provides multiple utility options by allowing users to make use of the integrated devices' resources such as storage, computing power, rendering and decentralized IPs. This allows them to create and use Apps and dApps.
Xiden’s eco-friendly Smart Distributed Resources Layer gives users the chance to earn rewards in XDEN (Xiden’s native token). It provides a decentralized architecture network that allows them to connect all of their smart devices to it.
Edain – The first project on Xiden
Edain is the first project to be developed on the Xiden Blockchain. It is an AI-powered knowledge-creation platform that makes knowledge available to all. The Edain team achieves their vision of equal access through data collection and processing. Its goal is to enable all people to collaborate in solving problems. This is achieved through the creation of "knowledge apps" that analyze vast amounts of data and return results that can be used in many areas of one's life.
One such app is Decision Point Crypto. It's a sentiment analysis tool that integrates multiple indicators. It analyzes large, blockchain-native projects with natural language processing technology.
It can be used in insurance, which is an industry where risk analysis is not essential. The greater the depth of knowledge, the lower the risk and the better the tools are, the easier it will be to avoid them.
About CryptoDATA
CryptoDATA Tech is a global ambassador to promote data security and digital privacy. It is a pioneer in the development of products and services based on blockchain technology. This technology allows users to communicate privately and securely and also offers solutions for projects that use blockchain technology. CryptoDATA Tech was founded on the idea of digital privacy and provides users with both software and hardware cyber solutions that allow them to secure their data. The company continues to work hard to bring blockchain technology to motorsport.
This is a press release. Before taking any action related to the promoted company, or any of its affiliates, or services, readers should do their research. Bitcoin.com does not assume any responsibility for any loss or damage caused or alleged by the use or reliance of any content, goods, or services mentioned in this press release.
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By: Media
Title: Xiden Developer CryptoDATA Announces New Project to Defend the Crypto Space From Asset Losses
Sourced From: news.bitcoin.com/xiden-developer-cryptodata-announces-new-project-to-defend-the-crypto-space-from-asset-losses/
Published Date: Thu, 08 Sep 2022 17:00:34 +0000
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