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Blockchain, the backbone of digital currencies and decentralized applications (apps), has become more famous and used over the past few years. But with this growth comes a pressing need for more security steps to keep hackers and other bad people out.
As the blockchain environment changes, its security needs also become more complicated. Many networks that didn’t put security first have been broken into, which shows how important it is to use the best security methods.
How blockchain security works
Blockchain security has many parts and many ways to keep networks safe. Some of these methods work better than others. But the best approach today often uses a mix of technologies.
One combination uses programmable protection technology built on Intel SGX and cryptographic protection technology, such as zk-SNARKs.
Intel SGX, a software guard extension, is a powerful hardware-based encryption solution that creates safe enclaves inside the processor to protect sensitive data.
This technology is good at encrypting data, keeping it safe from possible attackers.
But the security platform gets even more vital when combined with zk-SNARKs, a type of cryptography that lets one party show ownership of the information without giving it away.
Exploring new territories and chances
Swisstronik is one of the few platforms that use this combination of security measures. It is an identity-based hybrid blockchain that allows web3 and traditional companies to build products that comply with know-your-customer (KYC), anti-money laundering (AML), and data protection law (DPR). The mainnet also keeps privacy, responsibility, and decentralization in check. Swisstronik’s technology stack is based on the Cosmos SDK and is compatible with Ethereum, so it can be easily connected to other networks.
Swisstronik does this by putting most of its attention on three key areas:
Creating an automated network of the best KYC and AML providers, regulatory bodies, and other compliance partners in each country allows Swisstronik-based products to be used across borders quickly and legally.
They facilitate DPR compliance by letting clients keep sensitive data private and hidden through a unique mix of data protection methods in programmable protection technology based on Intel SGX and cryptographic protection technology based on zk-SNARKs.
They provided a complete set of customizable non-custodial tools, such as decentralized identity (DID), zero-knowledge (ZK) transactions, and decentralized messenger services. Swisstronik works on how blockchains can work with other systems and be scaled up so that businesses can quickly deploy advanced applications with low costs.
The way Swisstronik handles security shows how powerful it can be to combine multiple advanced security technologies to make a complete answer.