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Cyber security is of the utmost importance, especially in today’s digital age. It works to protect computer systems and digital assets from theft, corruption, and damage to one’s software or hardware. Cyber security is one of the major challenges we are facing in today’s world. As we become more and more reliant on our electronic devices and begin to conduct more transactions and store more data on them, we become incredibly vulnerable. With the emergence of new technology comes the potential for a new wave of hacks and scams. Cyber security in regards to blockchain technology and cryptocurrency is as important as any other type of tech-related security. Though algorithms are set in place to make distributed ledgers as secure and impenetrable as possible, malicious intent from hackers can still lead to tricks or scams. Becoming well-versed in cyber security awareness can help you understand what to look out for, when to be skeptical, and what actions to avoid. Many notable hacks have been executed in the world of cryptocurrency. As such, digital wallets, exchange platforms, and distributed ledger systems are constantly seeking to improve upon their security measures and practices. For example, in efforts to test cyber security, some platforms release bounties to be rewarded to anyone who is able to hack their systems. This demonstrates how secure they are to the public while also helping them uncover any potential points of fault. Also, most exchanges and wallets have multi-level identity verification processes to ensure only an account’s owner can open and use an account. This is not to say that cryptocurrency and blockchain technology are more vulnerable to breaches in cyber security than anything else. In fact, they are arguably the opposite. Though, these innovations have caused hackers and scammers to come up with new means for malicious behavior, means which the public may not be privy to. It is important to stay up to date with the latest news and updates on cyber security to ensure you are informed and protected.
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