Financial organizations continue to maintain centralized databases, which are a lucrative and easy target for cybercriminals. The Blockchain databases, though public, utilize encryption to keep their servers proofed against hackers.
The Blockchain network comprises nodes. These are the individual computers synched into the blockchain to make a global ledger. The ledger captures all the users on the platform as well as any transaction completed on the peer-to-peer network.
Once a transaction takes place, the database saves it in numerous digital copies on many computers. Consequently, the copies that hold the transactions do not exist anywhere else outside the network on a centralized server or database.
No one can corrupt them, as it is impossible to either edit or delete anything on the records. The records hold and share a verified signature traceable to the individual user involved in any transaction.
Latest Wallet Security Features
By early 2017, most blockchain items started using the Proof of Work security infrastructure. The system is a product of the Proof of Stake system. The Proof of Stake system allows the miners with the most significant stake in processing power to control other cryptocurrencies.
The amount of personal information needed from customers, according to regulations, depends on the amount of money involved in the transaction. Clients must prove their identity by submitting their data as it appears on government-issued documents.
The customer will submit a recent bill, a photo of their bank card, and their driver's license. The KYC process appears cumbersome, but it's a way of protecting crypto businesses from liability in case their clients intend to make illegal remittances, such as money laundering, corruption, and terrorism financing.
Concerning those registration requirements, the coin is fully compliant with the Anti-Money Laundering laws and the Combat Terrorism Financing requirements.
What DasCoin Offers
Besides the ease of registering clients on the user-friendly interface DasCoin continues to gain ground as a trusted coin. Their blockchain is to confirm transactions in a matter of six seconds.
This new Currency of Trustexpects to attract over 60 million merchants to its consortium blockchain. With all the incentivized measures, DasCoin's greater liquidity, enhanced by the proprietary exchange and superblocks, makes this a transparent and reliable option for virtual currency transactions.