The creator of Bits.media Ivan Tikhonov took part in the broadcast on the YouTube channel of blogger Ilya Varlamov, dedicated to the development of crypto projects and their security.
Ivan Tikhonov spoke about how the first practical implementation of a decentralized system with a clear mathematical algorithm, the Bitcoin network, became the starting point for the development of the crypto industry. Up to this point, in any project that was created, conditionally acting as an alternative to the traditional financial system, there was a critical vulnerability, namely a single point of failure, which could be pressured so that the entire structure of the project crumbled.
With the advent of Bitcoin, it became clear that it is possible to create a workable project that does not need powerful servers and special permissions, that everyone can make sure that there are no external controls.
Turning to the realities of 2022, Ivan Tikhonov drew the attention of the audience to the fact that in the modern world the number of blockchain projects has increased significantly. Therefore, when investing funds, it is necessary to follow those projects that have shown their viability in the market and offer users interesting ideas. A simple evaluation criterion can be an analysis of the directions of development of a crypto project and the level of concentration of intellectual efforts aimed at improving technology.
However, according to the founder of Bits.media, the “reverse side of the coin” of the successful development of the industry was the emergence of fraudulent projects masquerading as real activities:
“There are quite a few cases of crypto-currency fraud, because if you were able to steal crypto-currency, then most likely you can launder it. It's safer than stealing money from bank accounts, and scammers take advantage of it."
For beginners, a relatively safe entry into the trading of crypto assets can be registration on a cryptocurrency exchange located in a clear and regulated jurisdiction. As a rule, in order to register and be allowed to operate, the exchanges ask the user to go through a full identity verification procedure. This removes some of the questions from regulatory authorities and banks when withdrawing funds, explains Ivan Tikhonov.
Yes, cryptocurrency assets can be purchased and exchanged without going through exchanges. For example, through exchange services. At the same time, the risk of running into scammers increases significantly. Monitoring services that aggregate data on more or less trustworthy exchangers can help to obtain preliminary information about the degree of security of currency exchange operations. But even in this case, the founder of Bits.media clarifies, it is impossible to guarantee 100% security, since there are many intruders on the market and making blacklists has become almost useless.
In June, the head of Bits.Media, Ivan Tikhonov, spoke at the TECH WEEK conference in Skolkovo, where he spoke about ways to protect against fraud when exchanging cryptocurrencies.
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