Security On Westake
First of all, we have to understand where the security issues are on cryptocurrency platforms. There are, in fact, multiple levels of security we have to into consideration. Each level of security is a different layer of the project and different people are working on it. The entire team has to be focused on all levels of security at all times.
Of course, we’re not here to explain the entire security system of Westake. That would itself be a security issue. What we really want to share with you is our basic security philosophy and how we decided to build the security of our platform.
Basically, we can identify 3 levels of security.
1st Level: Blockchain Security
This is the level that concerns every currency. As you might already know, crypto currencies, and particularly blockchain technologies, are relying on a high degree of security. Sometimes, a security issue is still discovered and fixed by updating the code.
Our Team is constantly keeping an up to date software version of the latest improvements from the official Blockchain team for every currency we have implemented. We also check the code everyday and follow the github repositories to be aware of any issues as they arise.
2nd Level: Network Architecture
Here we are talking about the servers of Westake – databases, web servers, nodes and others. The first question we asked was, “which server has to communicate with which one, and what is the best way to make them communicate?” Based on this question, all our servers are set up to communicate strictly with other necessary servers. Also, we make them communicate as much as possible on a private network, not reachable by a public network, like the Internet.
We also use cold wallet (we really do) to secure the funds and make it unreachable for anyone except specifically designed team members
It looks like a normal and basic structure, but still 95% of the actors in this market are far from caring! Just following the news and shows how these basic security steps are ignored from lots of companies.
3rd level: Coding
Another vital part of our security is how the platform is coded and if it’s totally secured. Unfortunately, it is not possible to give publicly deep details about this security layer. But, as we mentioned above, we review the code every day. If some new security leak was exploited on another platform, we directly make sure with our development team that we have the loophole covered.
Thank you for reading this article!
We hope you enjoyed our brief reflections on the security elements of cryptocurrency platforms and the basics of how we designed the security layer of Westake. For any questions, don’t hesitate to ask to our support team and we’ll answer as best as we can without compromising security.
Have a nice day and remember: