Hong Kong’s Crypto Regulation Framework: How Hong Kong is Regulating
7 Must-Have Data Protection Software for the Crypto Industry
Cryptocurrency data-protection software can be used with a broad range of information storage solutions. They’re created to safeguard information entered on a particular blockchain. These technologies work by analyzing the risk, studying a cryptocurrency system, and identifying dangers to data, applications, and assets.
Data protection software is frequently used to safeguard decentralized applications and tokenized resources and to spot unauthorized claims and network safety concerns.
Companies additionally deploy such tech to guarantee that data is safeguarded against potential hazards and retained in accordance with privacy standards.
Although blockchain security software may not be created exclusively for safeguarding cryptocurrency, alternative security solutions might include traits comparable to those of data-protection software. Here, we’ll examine the top seven data protection software solutions that are exclusively designed for and are making strides in the crypto industry.
7 data-protection software you must consider if you’re an investor in the crypto industry
A solution must meet the following requirements in order to be eligible for consideration in the crypto security section. It should be constructed using a distributed ledger technology (DLT) or crypto-driven infrastructure.
The developers must implement identification and validation checks before posting to a private blockchain to protect cryptocurrency authenticity. The software should contain features like tracking and identifying dangers to a crypto space and securing tokenized assets / smart contracts. So, let’s get started!
Safety and conformity are generally dreary, uninteresting, and downright unappealing subjects. But it’s difficult to stay abreast with continually shifting legal environments and regulations.
The GDPR in Europe has been in effect for a year, but problems persist. In the United States, the California Consumer Privacy Act is worrying huge corporations since they believe they won’t be capable of complying.
After answering the question, “what are the privacy laws in California?” Osano, a firm based in Texas, uses software-as-a-service technology to provide businesses with real-time access to their existing security and regulatory position.
- Gives businesses information on how well they are complying with federal and state privacy legislation.
- Enables firms to control risks associated with their operations, including when partners’ or vendors’ privacy laws shift.
- Allows its corporate clients to abide by dozens of data protection laws worldwide with just one code line.
- Enables businesses to quickly set up flexible consent planning with consent management features.
- Sends the appropriate consent messages in the right languages to the correct person.
- Collects and delivers accessible and cryptographically verified proof-of-consent using the blockchain – in the case of a user’s demand for accessing data.
Osano’s Developer plan is free while the Business plan starts at $100 per month. The Custom Enterprise plan is priced at ₹550 per month and the Business+ plan costs $200 per month. All the latter three plans offer a free trial of one month.
Hyperledger is a community effort designed to improve blockchain solutions by recognizing and dealing with crucial components of an inclusive, cross-industry norm for decentralized applications with the potential to revolutionize how commerce is done around the world.
- Uses multiparty databases called distributed ledgers, which lack centrally located authorities. Transactions are handled in batches using a blockchain’s logical sequencing.
- Hosts multiple DLTs to act as the building blocks for blockchain networks in a number of sectors and use cases.
- Deploys libraries to satisfy fundamental needs or provide crucial functionality for a range of enterprise blockchain use cases.
- Contains toolkits for digital credentials, smart contracts, and cryptographic codes
- Helps with enterprise blockchain implementation – such as handling interoperability, performance, and security breaches to crypto transactions.
- Offers numerous open and reliable technologies via its Labs and community-developed projects.
Hyperledger doesn’t have any pricing information on its website. Contact them to get the current pricing.
Anybody can trade their surplus hard drive capacity on Storj, a distributed, open-source cloud storage solution built on blockchain tech. Founded by Shawn Wilkinson in 2014, Storj had a straightforward notion of putting idle resources to use in order to make storage safer, quicker, and more economical. They’re developing S3-compatible, enterprise-ready object storage with unmatched security.
- Safely allows information storage through 13000+ nodes throughout the world – with security and CDN (content delivery network)-like efficiency – rather than using only a few risky computer servers.
- Offers S3 connectivity for app development, video streaming, and software distribution
- Provides enterprise efficiency, resilience, and privacy through Web3 innovations.
- Removes security breaches and outages via encryption, fragmentation, and a worldwide network of hubs that are used to hold each file.
- Offers node operators the option to power a decentralized cloud while receiving payments for unutilized disk space or bandwidth.
Storj’s no-cost account offers up to 150 GB of monthly storage space. The Pro plan, priced at a monthly storage fee of $4/TB offers 150 GB of unrestricted space and bandwidth. You need to pay for what you use beyond that.
A reliable and scalable blockchain platform designed for the cloud, BlockCypher powers cryptocurrency apps. In Redwood City, California, in 2014, Catheryne Nicholson and Matthieu Riou invented BlockCypher. Its goal is to free developers from the burden of maintaining an expensive and labor-intensive infrastructure so they can focus on creating apps.
- Enables simple creation of blockchain apps with features like callbacks and web-based REST APIs
- Offers low latency, linear scaling, and high throughput.
- Operates in various data centers through advanced architecture, which reduces redundancy.
- Manages a group of distributed databases that house the entire blockchain’s transactional data.
- Hosts full-node blockchains for the highest level of security when validating and relaying transactions, we host
- Provides 24/7 assistance to help clients succeed as they create their blockchain applications.
BlockCypher has a free plan and a PRO plan, starting at $100 per month.
Users can encrypt and stamp their multimedia content in public ledgers via their phones with the BlockNotary application. It offers cloud hosting for secure files together with shareable notarization receipts. Additionally, BlockNotary offers customer care optimization, risk reduction, customer acceleration, and know-your-customer services.
- Uses OTS (OpenTimestamps), IPFS (InterPlanetary File System), and open Bitcoin or Ethereum crypto algorithms to generate distributed evidence.
- Generates receipts, which are machine-readable and subject to independent verification.
- Enables multimedia file uploads to the application – for safe storage on decentralized system files that are shielded by the network.
- Allows the distribution of independently verified receipts that include all media file URLs and cryptocurrency confirmations.
- Allows an irrefutable receipt after uploading a file type to the application. The same applies to file formats notarized by independent parties.
- Uses the native Action plugin to incorporate safe timestamping into any project.
BlockNotary doesn’t have any pricing information on its website. Get in touch with them to understand their pricing structure.
BitFury is a developer of critical infrastructure and security solutions for the bitcoin blockchain. Since its establishment in 2011, the group has expanded upon its history as among the first bitcoin miners and suppliers of mining hardware to provide a range of infrastructure goods and services that power the Web 3.0 ecosystem and make digital assets safe, long-lasting, and valuable.
- Provides asset management through BitFury Exonum that’s inclusive of transparent and effective processes, data accuracy and reliability, accessibly and easily verifying data protection of records, simple integration with other systems and procedures, and regulation and legal compliance.
- Offers trust management and supply chain control, which is transparent in procurement and cost reductions and protected from the fabrication of papers and commodities.
- Provides exchanges, banks, and FIs with best-in-class AML compliance and risk management solutions via BitFury Crystal.
- Drives bitcoin transaction analysis and monitoring on the blockchain.
- Tracks blockchain transactions up to 100,000 hops – offering real-time data for precision and clarity to support risk management and compliance-driven choices.
BitFury doesn’t have any pricing information on its website. Contact them to get the current pricing.
Blockchains are merely tools that’re utilized to address consumer issues in the end. The goal of Guardtime is to use the technologies we’ve created, collaborate with partners, and create the best enterprise solutions possible.
- Offers data protection, security, and cybersecurity. with an emphasis on different datasets, zero-knowledge networks, and post-quantum or hash-based encryption, among other privacy-preserving techniques.
- Secures data cooperation via multi-party computing that can be audited.
- Provides distributed learning and guaranteed AI.
- Uses accumulators for cryptography and verified information structures.
- Facilitates convergence between distributed ledger systems and blockchains.
- Offers official confirmation, a responsive cryptocurrency infrastructure, and autonomous identities.
- Provides alternatives utilizing blockchain for supply chain and IoT problems.
Guardtime doesn’t have any pricing information on its website. Contact them to get the current pricing.
Safeguard your data with our recommended list of software
Before selecting a blockchain data-protection software, consider a few critical factors. Phishing attempts are attempts to fraudulently steal a user’s login information.
Routing offenses are instances when hackers intercept data sent to internet service providers. Finally, Sybil attacks employ several bogus network identities to overload the network and bring down the system.
Hence, do thorough research into certain ledgers, identities, and transactions. Choose one among our seven listed blockchain security tools to facilitate the real safeguarding of data.
Atreyee Chowdhury is a freelance content writer with more than 10+ years of professional experience. She is passionate about helping SMBs and enterprises achieve their content marketing goals with her carefully crafted and compelling content. She loves to read, travel, and experiment with different cuisines in her free time. You can follow her on LinkedIn.