Blockchain technology remains one of the most fascinating inventions in recent times, but it has also come with its impending challenges which vary from all levels of data breaches, security protocol hacks and brute force attacks.
As much as the development of products on the blockchain is a continuous process, there are bad actors out there who are also relentless in doing the contrary by infiltrating these projects and subsequently stealing from these projects and platforms as it may be.
What are exchange security standards?
According to Crypto Consortium, Cryptocurrency Security Standard (CCSS) is defined as a set of requirements that is expected for all information systems, development platforms that make use of cryptocurrencies, including exchanges, web applications, and cryptocurrency storage solutions.
Therefore, the standard that is applied using these techniques and methodologies becomes a requirement and must be used by systems around the globe, such that end-users will be able to easily make educated decisions about which products and services to use and with which companies they wish to align.
Invariably, these standards become a yardstick for users to determine which development project has the requirement to mitigate against any security challenges going forward as a platform.
It should be noted that CCSS is a cryptocurrency standard that augments standard information security practices.
With any standard, knowledgeable and experienced security professionals and/or auditors are necessary when implementing any information system to ensure coverage of all classes of attack as well as the appropriate handling of all potential risks.
This is basically what puts the Klever team far above its competitors as the Klever security (also called ‘Ninjas’) comprise a squad of intelligent and competent security professionals who ensure the security of the entire Klever architecture.
This architecture goes from the Klever wallet to the Klever Exchange and to all other products and services that run on the Klever Ecosystem.
Why use the Klever Exchange?
Klever Exchange was created as a home to users who are completely new to crypto trading by providing a simpler user experience, while enabling reliability and useful features to experienced traders through market-leading speed, ironclad security, market maker opportunities and low fees.
All features and concepts deployed on Klever Exchange are built and designed with the end users in mind.
This includes both users that are taking their first steps in the world of crypto and do not yet understand how crypto trading exactly works, but at the same time facilitating advanced tools for more seasoned traders to profit and benefit from.
Klever Exchange is the evolution of our goal to provide our users with a seamless, secure, stable and incredibly fast trading experience, and is based on over 3 years of industry research and product development.
The Klever team has over 100 developers, engineers and staff who are responsible for ensuring that the entire system continues to remain secure from any potential malicious attack towards the Klever Exchange.
What is the Klever Exchange security standard Architecture?
Klever Exchange is built on top of an innovative Microservices Architecture where each component of the exchange infrastructure has its own autonomous responsibilities and functions independent from other components.
Using this architecture, each microservice is authenticated independently in our infrastructure and is identified through their own roles, functions, and responsibilities.
The primary reasons for using this approach when constructing the Klever Exchange software architecture are to keep each layer of our exchange by ensuring that all components are reliable, safe, and incredibly fast for users trading experience.
Our approach to developing financial tools within the Klever Ecosystem is guided by security and the safety of our users. As a result, Klever Exchange has implemented new security standards to protect our users’ cryptocurrency and their trades.
Such that during high market volume and volatility there are no issues of corruptible transactions with the system remaining autonomous, reliable, and scalable exchange as the users would experience it.
The new standards include the following core requirements across all platforms i.e. Desktop and Mobile devices:
- You must have an active 2FA set up on your profile before withdrawing funds. (Two Factor Authentication);
- For administrative reasons, and again for security reasons, the resetting of a lost 2FA requires a valid ID or driver’s license.
- Previously created 2FA setups will need to be recreated to approve withdrawals.
Klever Exchange currently uses Google 2FA to secure your trading accounts.
The roles of the Klever Exchange software architecture environment are based on these five following pillars:
These interfaces were born ready to support event connections and traditional requests and are able to interact with user clients (Klever Exchange Mobile/Web) but also through API (Application Programming Interface) keys.
The API keys will allow users to run bots using their own strategy to negotiate in Klever Exchange following the configurations that users make while generating the bots.
In conclusion, like all the products launched by Klever, we want to make crypto easier and more accessible to the user that has never heard about crypto, but at the same time also serve the traders that are considered advanced users.
We have built the Klever Exchange with the goal of maximizing the potential for crypto trading across the globe for anyone with a connection to the internet – because we believe that everyone deserves to have the same chances to succeed as the crypto whales do today.
It is a Klever thing to do.