publish2018-06-21 6:26 pm

Risk Warning: Your capital may be at risk

backBack to the list of Articles

Sentinel Review – Cryptocurrency Guide

Security continues to be a major issue within the crypto space.

Although Blockchains are intended for optimal security because of their decentralized nature, this has not kept the users and institutions operating on these Blockchains from being presented to hackers.

From Mt.Gox exchange ($473 million hacked), to Bitfinex ($72 million hacked), and most as of late, Crypto Youtuber Ian Balina ($2 million hacked).

Obviously users and exchanges are still exceptionally uncovered.

Fortunately, another Blockchain company called Sentinel Protocol guarantees an answer for secure our exchanges and funds.

What is Sentinel Protocol?

Sentinel Protocol is offering a digital security ecosystem that leverages the aggregate intelligence of digital security specialists, as well as advanced advances like machine learning and sandboxing to help crypto traders and exchanges ensure their cryptographic forms of money.

It works by providing a threat reputation database, which contains security intelligence information like the addresses of affirmed dangerous wallets belonging to hackers, or malicious URL’s.

The database sits on the Blockchain and is associated with API’s.

Exchanges and different organizations can use these API’s so as to get an alert or block an action at whatever point they experience any of these malicious URLs or wallet addresses.

Sentinel protocol gives 3 main security features: The Sentinel Portal or Threat reputation database (TDRB), Machine-learning engine integrated security wallet (S-wallet), and a distributed malware analysis sandbox (D-Sandbox).

sentinel homepage

Threat Reputation Database (TRDB)

The threat reputation database is intended to offer a decentralized source of shared knowledge amongst security merchants. This database is given as an API that individuals and organizations can interface with.

Traditionally, security merchants would accumulate information independent from anyone else and store them in the centralized databases of their particular organizations.

This lead to security blind spots because of the lack of finish information, as well as the centralization of vital data creating a single point of failure (NSA’s hacking by Russian state hackers in October 2017 is an example of this flaw).

Sentinel Protocol TRDB

TRDB uses a token incentive plan that encourages sellers to contribute to a consistently expanding threat database containing hacker’s wallet addresses, malicious URI’s, phishing addresses, malware hashes, and more.

Submissions are validated based on aggregate consensus and feedback from participants using the Delegate proof of stake strategy.

Just security specialists can update TRDB, however, general users can also participate via auto reporting or manual reporting. Auto reporting allows Sentinel Protocols machine learning based security wallet to automatically recognize unknown threats the user runs over while associated with the TDRB API.

At the point when a threat is identified, it is sent to the database. Manual reporting requires the user to report the hazard information themselves, which is then validated by the security community afterwords.

S-Wallets

S-Wallets can be held by individuals or institutions to store their cryptographic forms of money with enhanced security.

The S-Wallet uses machine learning to anticipate incoming security threats based on information gathered from the threat reputation database. The wallet operates like anti-infection software, aside from it doesn’t have to wait to get updates from a centralized server. It can be more proactive in its recognition based on analysis of threat propensities and history gathered from the TRDB.

The S-Wallet is especially successful against Ransom ware threats, and gives channels to Crypto cash wallet addresses, URL/URI’s and different types of Data. The machine learning technology also enables Sentinel Protocols Fraud Detection System to identify transactions that are accounted for misuse or stolen.

D-Sandbox

Sandbox is a security mechanism that isolates untested and unverified programs. These programs are isolated away from the main application and into a testing situation with the goal that potential threats can be analyzed and submitted to aggregate intelligence via a ticket framework.

These 3 features of Sentinel Protocol are directed by the ‘Sentinels’, a gathering of security specialists, individuals and organizations who serve to validate hacking claims, analyze the underlying driver of a threat, and update the TRDB.

sentinel services

Sentinels Overview Sentinel Protocol

Much the same as how black hat hackers are incentivized by money to perform malicious activities, Sentinel protocol aims to create an ecosystem where white hat hackers (or Sentinels) can earn money by contributing to the security intelligence of the ecosystem.

Sentinels earn ‘sentinel points’ for their contributions, and these points can later be changed over to crypto tokens called UPP (Uppsala) Tokens.

Sentinel points are added up as a reputation score that evaluates how much a Sentinel has helped a hacking casualty, or contributed to the TRDB.

Users can make indirect contributions and earn sentinel points by creating or translating articles to alert the community about digital security threats.

UPP tokens are the cash used to pay for security features within the Sentinel Protocol ecosystem. The threat discovery database as well as API integration come free, while users have to pay tokens to use further developed features like Machine Learning-based anomaly recognition or Distributed-sandboxing.

Team

Sentinel Protocol gathers a standout amongst the most experienced teams in the Blockchain space. Their combined expertize in digital security spans decades, and involved working for major corporations as well as Governments.

Patrick Kim – Founder and CEO

Patrick came up with the idea for Sentinel Protocol when in 2016, 7,218 Ether (around $70,000 at the time) was stolen from his wallet because of a hack.

He took this exceptionally unfortunate incident and transformed it into a business opportunity by starting Uppsala foundation, which Sentinel Protocol is under.

Patrick brings 10 years of involvement with network security and framework architecture at Palo Alto Networks and Fortinet.

Prior to this, he was Koreas boss technology consultant at Darktrace, and AI focused global security company. He consulted the government and large corporations including Korea Cyber Defense and Samsung.

Hae-Min Park – Business Operations

Hae leads the business operations of Sentinel Protocol. He has more than ten years of IT security encounter, specializing in database architecture, web application firewall (two patents), fin-tech security, and machine learning.

Before Sentinel Protocol, Hae planned the DB architecture of the corporate banking framework at KB Bank, and drove global business operations in Korea at F5 Networks and Darktrace.

John Kirch – Chief Evangelist

John has more than 25 years of international involvement in Asia’s high-tech industry. He specializes in cutting edge software answers for address the requirements of organizations all through the key markets across the Asia Pacific locale, particularly in Japan.

Before Sentinel Protocol, John held senior parts with several leading technology companies including WatchGuard Technologies, Softbank, CyberGuard, and Darktrace.

Pros/Strengths

  • Highly experienced digital security team
  • First mover advantage in Crypto security
  • Sentinel has an exceptionally utility focused Token structure. They have very much planned incentive structures to create the best ecosystem for digital security.
  • Sentinel protocol began working on the security issue in 2016, and is one of a small gathering of companies focused specifically on Blockchain security today

Cons/Weaknesses

The achievement of Sentinel protocol is exceptionally reliant on external assistance. I don’t know if tokens will be sufficient to incentivize digital security specialists to collaborate with each other, especially if they compare what they will earn as part of the sentinel network as opposed to working only for one Blockchain (or non-Blockchain) company.

The money individuals or institutions pay to gain admittance to restrictive security features is a major factor preventing the best security specialists from collaborating with each other today. There’s also the issue of mystery between nations, which may forestall many digital security specialists who work for Governments from contributing.

ICO Specifics

Their open sale started on May 27th and closed on June 10th. The company was looking to raise $32,900,000, and already raised $23,294,012 before the ICO.

sentinel token

How advanced is the project?

The development of the project began from January 2018. It won the Kyber Network Developer’s Competition in Seoul in the same month. Below is the roadmap of the project:

June 2018: Public beta release

July 2018: Mainnet launch (manual reporting of TRDB)

November 2018: Machine learning engine beta test

December 2018: Machine learning engine feature release (auto report applied) beta/Distributed sandbox (D-sandbox) release

2019: Machine learning based Fraud Detection System (FDS) release into mainnet

sentinel wallet

What are the tokens used for and in what manner can token value appreciate?

UPP tokens are used as a money for goods and services gave by Sentinel Protocol, including the advanced security features of the security wallet. It can also be used for detailed digital legal service, consultancy, vulnerability assessment, and/or different activities requiring The Sentinel Protocols’ assistance.

To incentivize the early participants or early Sentinels, the initial inflation ratio will be set between 3 to 7% every year, decreasing gradually each year. Similarly, the rewards of tokens for performing similar contributions will gradually diminish.

How To Buy SENT?

While reading this review you must be wondering about how to buy SENT. This section will help you to know how to buy SENT. However, you will need to find the best exchanges to buy this token. At the moment, you can make use of HitBTC to buy it.

Conclusion

Sentinel protocol is offering a service that takes care of a critical issue within the crypto community – security. As more exchanges are launched and more crypto users rise, security will just turn into a greater issue.

By becoming one of the first Blockchains to center totally around security, Sentinel protocol is very much situated to be a relevant player in this space for a long time. The company has shrewdly picked not to go the course of conventional marketing, and is instead focused on bringing real world digital security specialists to Sentinel Protocol, and establishing partnerships with exchanges, wallets and payment services.

They may face some initial challenges recruiting the best security specialists to the network. These players are already in high demand and will deal with competing interests in the real world. However, extra time we do trust Sentinel protocol will begin to achieve a network impact as institutional investors enter the space and demand higher levels of security to ensure their funds.

Useful Links

Official Website

Twitter

 

Relates Cryptocurrencies and Tokens...

publish2018-10-24 9:33 pm

Education Ecosystem Review – Cryptocurrency Guide

Education Ecosystem is focused on the decentralization of learning by using the blockchain. Through their first item, the LiveEdu platform, they will make a project learning library focusing on education in future technology fields including artificial intelligence, digital security, VR and that's just the beginning, and power it with LEDU tokens.

Read more...

publish2018-10-24 9:32 pm

Ties.DB Review – Cryptocurrency Guide

Ties.DB has propelled the first open, decentralized and distributed database that has been made by individuals from the crypto community for broad use. This cutting edge B2B item offers an outstanding answer for the soaring requests of data stockpiling.

Read more...

publish2018-10-24 12:42 pm

CopyTrack Review – Cryptocurrency Guide

Copytrack is a blockchain-based copyright administration platform. The platform means to take care of issues with the present computerized content administration. Copytrack will give proof of responsibility for substance.

Read more...

Leave a Reply

Your email address will not be published. Required fields are marked *

*

Economic Calendar

Powered by Myfxbook.com

The information contained in this website is for general information purposes only. This information is not an alternative to investment advice. Statrader.com is not licensed nor authorized to provide investment advice or investment services. Statrader.com does not promote, advice, or make any personal recommendation to clients to trade binary options, cryptocurrencies or forex. Before any client start trading or use any forex / binary options broker, cryptocurrency exchange or mining service, he must do his own investigation about legal license, registration and government authorization to ensure his suitability, and client must completely understand all the risks involve with any financial instrument, cryptocurrencies and/or trading or opportunities before he even considers start trading.

Binary options are not promoted or sold to retail EEA traders. If you are not a professional client, please leave this page.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Statrader™ · Copyright © 2017-2018 · Statader.com