KuCoin was hacked. See how NGK prevents this.
Kucoin is a well-known international exchange. It was attacked by hackers a while ago, which caused an uproar. Although most of the funds have been recovered after the united efforts of KuCoin and other large exchanges in the crypto industry, there is an undeniable fact that the security of KuCoin needs to be further improved in order to avoid the hacker attacks. NGK has already upgraded its technology from multiple areas to improve its security precautions and strengthen its defense against hackers.
NGK.IO uses smart contracts to perform many functions in the encrypted ecological applications. The introduction of digital smart contracts ensures that all NGK data is transparent and immutable. NGK.IO has added blacklist and whitelist to the governance of smart contracts. The smart contracts are submitted for professional evaluation through the official website, and the certification of technical contract can be obtained after the evaluation. The malicious smart contracts may be blacklisted to protect the mainnet from any contract vulnerabilities. The smart contracts are decentralized, which avoids the platform’s subjective risk of default or the loss of users caused by objective attacks.
Black hole destruction mechanism
A black hole means that you can only enter but not leave. This is the safest solution for now. All the destruction of NGK Token will be executed through the uniquely designed black hole mechanism of the system. Thus, it is fair, secure and transparent.
Anti-quantum attack cryptographic algorithm
Among the many anti-quantum cryptographic systems, NGK.IO introduced NTRU as the main encryption system, and used the FrodoKEM system and Sphincs as the backup passwords. The current encryption system is not perfect, so NGK.IO will continue to maintain the scalability of various cryptographic schemes to minimize the irreversible results of a cryptographic system crash.
Original anonymous P2P communication network
At the level of anonymous transactions, the NGK.IO system combines the features of traditional encrypted tokens, zero-knowledge proofs and ring signatures, to ensure the efficiency, security and the privacy of transactions, and fulfill the privacy protection needs of different application scenarios. NGK.IO system implements the method of anonymous access to nodes, and uses a private encrypted communication protocol to achieve the anonymity, so that it is difficult to track the communication between sub-nodes, and resist the attacks by hackers.
Through continuous technical optimization, NGK will provide a good reference method for the blockchain industry to avoid any hacker attacks and protect the privacy of all users.