Is Privatixy Protocol The Answer To Data Breaches In Solana and Axie Infinity?
2022.08.14 20:30
Budrigannews.com – Is Privatixy Protocol The Answer To Data Breaches In Solana and Axie Infinity?
Data breaches have become common in crypto. Solana (SOL) was the latest victim in a spate of attacks aimed at stealing funds. Reportedly, over $4 million was stolen from over 9,000 wallets on the Solana blockchain. Axie Infinity (AXS) was also hacked in an elaborate phishing scheme involving LinkedIn job offers that were fake.
So, where does Privatixy Protocol (PXP) come into the picture? Privatixy Protocol uses a strong computation combination in creating a blockchain that serves as privacy preservation as well as data protection. Could this new crypto be the security that Solana and Axie Infinity need?
The Solution Privatixy Protocol (PXP) Offers
Privatixy Protocol harnesses the ability of multi-chain interoperability. After the launch of the Bitcoin (BTC) blockchain, others started to spring up and bring their unique mode of operations to the table. Privatixy Protocol can utilise the advantages of several blockchains to provide the best possible experience for its users.
In terms of data protection, Privatixy Protocol uses zero-knowledge proofs to process data in bits. This will allow you to choose any data you want to send which protects you from giving out data without your consent. Data protection and privacy go hand in hand, and Privatixy Protocol is well-positioned to deliver a protocol that protects and preserves your data.
Additionally, in light of the current trend of cyber threats, Privatixy Protocol has network audits to ensure the continued performance of the protocol. Systematic audits will be carried out to avoid data leaks and keep the protocol up-to-date.
Is A Theft Trend Hitting The Solana (SOL) Blockchain?
Solana (SOL) is considered the fastest-growing ecosystem in the crypto world. It is because of its fast transaction speed that it can scale effectively. Solana is capable of reaching an eye-watering 50,000 transactions per second!
As you may have heard, Solana was the victim of a cyber attack late last week. The evidence from the investigation showed that private key information from users was inadvertently transmitted to an application monitoring service.
However, the recent cyber attacks haven’t affected the value of Solana. Many still trust the crypto heavyweight and it has seen a healthy rise in the past seven days. Solana has risen by 12.97% at the time of writing.
Fake LinkedIn Job Offers On Axie Infinity (AXS)
Axie Infinity (AXS) is arguably the most popular Play-to-Earn (P2E) game in the world. Axie Infinity users peaked at 2.7 million in November 2021. Users can collect Axies which are NFTs and sell them on the marketplace. The most one has ever sold for is $820,000!
Like Solana, Axie Infinity was a victim of a data breach. It involved a phishing scheme where a fake LinkedIn job offer was submitted leading to a $625 million Ronan Bridge Hack. A report claimed that the North Korean hacker group, Lazarus, was responsible for the hack.
The value of the AXS token fell dramatically during the crypto crash. However, it has since been on the rise showing a 7.46% increase in seven days at the time of writing. It’s clear that after the hack, Axie Infinity has regained the trust of its users as it is still projecting positive numbers.
Final Thoughts
Data breaches and leaks are becoming increasingly common in crypto. Even trusted and established platforms like Solana and Axie Infinity have fallen victim to data breaches. Maybe what the crypto world needs is a new privacy-preserving platform that caters to the needs of its users.
Privatixy Protocol can provide that platform. The innovative cryptocurrency can serve as the backbone of blockchain technology to alleviate the breach of any user’s privacy.
