Exchange Partners With University of Luxembourg to Improve Crypto Asset Security

Also the University of rsquo & Luxembourg and NX Exchange;s collaboration aims to develop higher levels of community security for assets.
A new partnership between Luxembourg-based VNX Exchange along with also the University of Luxembourg aims to enhance the safety of electronic assets, business news outlet Luxembourg Times reported Nov. 23. VNX is a market and trading platform to get venture capital. The investigators at the University’s Interdisciplinary Centre for Security, Reliability and Trust (SnT) will reportedly layout new IT frameworks to improve exchange protection, as well as custody of crypto assets.Dr. An expert in media security at SnT, radu State, stated that several issues must be addressed for heterogeneous systems which difficulty tokens to a blockchain. State reportedly noted that safety “the applications layer” should make certain that the contracts which control individual trades do not contain any vulnerabilities.VNX founder and CEO Alexander Tkachenko reportedly stated that the exchange’s growth will call for regulatory clarity, investor protection, and compatibility with all existing market standards, adding:”In developing a protected and regulatory compliant market for the transparent trading of tokens representing electronic resources we aimed to introduce modern safety mechanisms that could totally protect our platform and might affect the global cybersecurity marketplace. “Tkachenko also stated he thinks that “blockchain technology is the next huge step from the financial sector’s evolution. “In October, Luxembourg-registered crypto market Bitstamp — Europe’s first fully legal crypto market — has been acquired by Belgium-based investment firm NXMH, which then, is owned by South Korean media conglomerate NXC Corp.The market ’s CEO noted that whether trading volumes dropped 60–70% this calendar year, the stage has stayed profitable due to the simple fact that cryptocurrency prices are higher on average than they were for most of 2017. In June, a study conducted by research firm Ipsos on behalf of Dutch ING Bank B.V. showed the lowest (4% ) rate of people owning cryptocurrency is in Luxembourg. Respondents from Spain, France, and Luxembourg preferred to rely on bank or financial advisers. […]

Leave a comment