{"id":630,"date":"2018-07-29T22:38:05","date_gmt":"2018-07-30T02:38:05","guid":{"rendered":"https:\/\/www.amp.legal\/blog\/?p=630"},"modified":"2018-07-30T19:27:30","modified_gmt":"2018-07-30T23:27:30","slug":"qr-improves-blockchain-security","status":"publish","type":"post","link":"https:\/\/www.amp.legal\/blog\/qr-improves-blockchain-security\/","title":{"rendered":"QR Improves Blockchain Security"},"content":{"rendered":"

Security problems discourage the growth potential and long-term acceptance of blockchain innovations. As blockchain technologies attract more users, companies are looking for stronger ways to secure their platforms. Every day,\u00a0more than 100,000 users<\/a> are joining crypto trading platforms. Meanwhile, attackers continue to look for ways to exploit vulnerabilities in the products.<\/p>\n

An article from CoinCentral, Major Security Flaws Threaten Deployment of EOS Mainnet<\/a>,<\/em> by Richard Malone, reported on one platform\u2019s \u201cepic vulnerabilities.\u201d As the world\u2019s fifth-largest cryptocurrency, EOS plans to compete with Ethereum. However, EOS announced that it had a major issue: an attacker could steal a private key and publish a malicious smart contract. This allows the attacker to take control of the network, which leaves the nodes of wallets and exchanges vulnerable to theft.<\/p>\n

EOS took action to find a solution. The company also offered a bounty of $10,000 to anyone that successfully finds a critical bug.<\/p>\n

QR Code Encryption<\/h3>\n

SafeWallet, a mobile crypto-asset manager, released a new security system<\/a> that replaces private keys and mnemonic phrases. The new two-layered system allows users to easily access their accounts using a QR code-based ID along with answering some security questions.<\/p>\n

\"QR
QR Code For Cyber Law Blog<\/figcaption><\/figure>\n

Although the use of QR promises a better way to secure a wallet, it is not a perfect solution. An attacker could still access a QR code if a user saves\u00a0it on a device or stores it in the cloud. But SafeWallet points out<\/a> that the additional requirement of answering specific security questions adds an extra layer of security. Additionally, the private keys never appear as text in the wallet.<\/p>\n

SafeWallet opened up its new technology to third-party developers to improve wallet security for blockchain users. The company is promoting its new user-friendly system as a bridge to connect decentralized and centralized systems. The company hopes to resolve security issues for blockchain products<\/a> while making it easier to use.<\/p>\n","protected":false},"excerpt":{"rendered":"

Security problems discourage the growth potential and long-term acceptance of blockchain innovations. As blockchain technologies attract more users, companies are looking for stronger ways to secure their platforms. Every day,\u00a0more than 100,000 users are joining […]<\/p>\n","protected":false},"author":1,"featured_media":631,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[34,84,13,88],"yoast_head":"\nQR Improves Blockchain Security - Cyber Law Blog<\/title>\n<meta name=\"description\" content=\"Cyber Law Blog explores legal topics with technology including privacy law and cybersecurity.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.amp.legal\/blog\/qr-improves-blockchain-security\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"QR Improves Blockchain Security - Cyber Law Blog\" \/>\n<meta property=\"og:description\" content=\"Cyber Law Blog explores legal topics with technology including privacy law and cybersecurity.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.amp.legal\/blog\/qr-improves-blockchain-security\/\" \/>\n<meta property=\"og:site_name\" content=\"Cyber Law Blog\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-30T02:38:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-07-30T23:27:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.amp.legal\/blog\/wp-content\/uploads\/2018\/07\/QR-code.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alice M. 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