How does NGK Ecological Exchange guarantee the privacy and security of users’ digital assets?
A few days have passed since the NGK Ecological Exchange was officially launched. The total computing power of the NGK’s entire network is continuously increasing, and the NGK daily active accounts are also increasing substantially. This shows that ecological builders of the crypto industry are very optimistic about the NGK Ecological Exchange. So, with so many ecological builders pouring into the NGK Ecological Exchange, how does it guarantee the privacy and security of users’ digital assets?
First, you must understand how the digital asset address is generated. It uses mnemonic words to generate a private key, then a private key to generate a public key, and a public key to generate an address. Many addresses form a user’s wallet for depositing digital assets. If users need to withdraw digital assets, they must use the private key to sign to indicate the ownership of the assets in the address.
This is because the entire generation relationship is irreversible. It follows the hierarchical generation, and cannot be deduced backwards, thus forming the characteristics of blockchain digital asset custody. As a result, the person who has the mnemonic word and the private key can truly grasp the assets in the address, and the loss of the mnemonic private key means the loss of assets.
With public key and private key, the security of the user’s digital assets is guaranteed. In order to improve the security of the digital assets for the users of the NGK Ecological Exchange, the NGK project team has improved on the original basis. It adopts a homomorphic encryption method where all user data will be encrypted and stored, and visible to user. At the same time, the NGK Ecological Exchange also provides encryption middleware services, allowing users to choose their business needs accordingly. Finally, in terms of upper-level applications, the NGK Ecological Exchange also performs real-time encryption processing on the entered data where no one can read it.
In the future, the NGK Ecological Exchange will also access digital wallets to ensure the security of users’ digital wallets. The wallets accessed by the NGK Ecological Exchange will adopt a method of separating hot and cold wallets. Most of the assets of NGK users are stored in the cold wallet. It is very secure, and only users can store and withdraw them through private keys. In terms of hot wallet, even if users only deposit a small amount of digital assets, they don’t have to worry about hacker attacks, because the NGK blockchain has improved the traditional operating system, the interaction protocol with the outside world, and the server.
Most importantly, the NGK Ecological Exchange adheres to the principle of decentralization, which can ensure it does not rely on arbitrary intermediaries. At the same time, the block producer voting system adopted by it will monitor malicious nodes in real time to ensure that its operation safety, as well as the safety of users’ digital assets.
