SENTINEL PROTOCOL : POLICING THE BLOCKCHAIN WORLD

Three security issues facing the average user:

— — hacks or scams{share your experience}

— — attackers can easily identify us more than we can identify them

— — The aftermath consequence of such hack are our responsibilities

In a physical society,one cannot be his own police,certain institutions are vested with authority to carry guns and protect individuals,however these institutions cannot function without collective intelligence from the public

Through a decentralized AI system,Sentinel Protocol is able to detect anomalies,disseminates such information to the entire ecosystem and protects the whole system by collective intelligence.

The cost of security

Humans throughout the ages have been involved in diverse forms of stealing and also different forms of curtailing this have been invented but with the emergence of internet and personal computers,many individuals have shifted their base of operation to the web,from outright scams to hacks to destructive bots etc,the online is increasingly becoming a war zone

The impact of these crimes have innumerable from reputable destruction,thefts leading to debts and closure of businesses to manipulation of elections

As the world is increasing becoming connected,there is a growing need for Internet of things,automation,digital currencies etc so the attention is shifting there but how shall be protected

As someone rightly said with great opportunities comes great possibilities and responsibilities,these opportunities have created thiefs and also security solutions,cybersecurity industry is predicted to exceed $1 trillion by 2021 but a question that begs for answer is this

“How shall the 75% of the world who have no means of securing themselves be safe”

As you see in nations,high net individuals are offered maximum security provided they can foot the bill

Some notable hacks so far

1. The Mt Gox Hack

2. The DAO hack : $50 million was siphoned on 17th June 2016

3. The Bitfinex Hack : 120,000 BTC was stolen

4. NiceHash Hack :December 06th 2017,a bitcoin mining giant was hacked for 4700 BTC

5. The Coincheck hack : $500 million worth of NEM were stolen,it is probably the biggest hack in history

6. Ian Balina was hacked out of $2M during a livestream

7. Impersonation hack :Seele, Experty, BeeToken are some examples of ico’s were investors funds have been stolen through impersonation

These impersonation could include fake websites,fake twitter and telegram groups and even fake emails

8. Scam exchanges : As a uneducated investor in my early years,I sent some bitcoin to an exchange in exchange for fiat but I never got anything in return

Also some crypto exchanges that support fraud are expert scams

9. Twitter scams :There is this giveaway madness where hackers or spammers create bot twitter accounts asking users to send 0.5 ETH to certain address in exchange for 5 ETH

These has prompted many crypto influencers and projects to change their twitter name to “Not giving away ETH”

SOME PHYSICAL THREATS SO FAR

1. The demanding of cryptocurrency in exchange for kidnapped individuals

Before now,kidnappers request the friends or families of their victims to drop an agreed sum in a designated destination with the warning never to involve the police,many kidnappers are not turning to cryptocurrency as their pseudo-anonymous and carry less risk like physical cash

2. Broad day robbery

While many are saying “with crypto,you are your own bank”,one must look back at history and see how individuals before the banking era stored their money,they did some with fear of even their own lives

See the story of UK bitcoin traders robbed at gun point

https://www.ccn.com/uk-bitcoin-traders-robbed-gunpoint/

THE IMPACT OF THESE SCAMS AND HACKS

1. Coincheck was forced to sell after the hack after it became insolvent

Not only institutions are affected but individuals are impacted as well

2. cryptocurrency reputation

Not only does it portray cryptocurrency in bad light before the public,it also affects the adoption of cryptocurrecny and blockchain technology

3. Commerce adoption problem

The question now is can i buy things with cryptocurrecy,if buyers and sellers will use or accett cryptocurrecy,there has to be a way to stop or mitigate against such scams

With the past portraying darkness and the present unsecure and the future looking blink and helpless,Sentinel Protocol is here to help

The next generation of solutions to our human problems will be collective,many platforms are following the trail of Bitcoin to create solutions that the crowd can provide resources to and use also

SENTINEL PROTOCOL IN A NUTSHELL

Through AI,Sentinel Prtocol will have a wallet that collects nodes or user’s information and creates model behaviors of all the user,in the case of anomalies,the wallet will obstruct such transactions and alert the whole system

Also,they will build a Threat reputation database(TRDB), a database can will house all information and threats in an decentralized and secure way inorder to prevent hacks that arise from centralization of data and also make it possible for different security experts or security institutions to share knowledge in a collective manner

Security experts and vendors are encouraged to contribute to building the threat database under the consensus mechanism and feedback from participants, or Delegated Proof of Stake (DPOS). Through collective intelligence, TRDB can most efciently and efectively collect hacker’s wallet address, malicious URI, phishing address,malware hashes, just to name a few

D-sandbox from Sentinel Protocol will enable potential threats to be submitted via a ticket system and analyzed through collective intelligence. This method is cost effective and computationally efficient

All these will be used in detecting and stopping attacks, account poisoning and many more.

THE SENTINEL ECOSYSTEM

The ecosystem consists of sentinels,users and the uppsala foundation

Sentinels : These are individuals or institutions involved in the cybersecurity field who help in this endeavour

Users : They include those who are utlizing the service of Sentinel Protocol,they include individuals,crypto exchanges etc

The sentinel tokens are the fuel of the system as it is required to use the service,report an attack and also incentive sentinels

WHAT SOME INDUSTRY EXPERTS ARE ALREADY SAYING ABOUT SENTINEL PROTOCOL

I like the idea of crowdsourcing and the verification of threat intelligence data through the use of Decentralized networks, which can then be integrated within the ecosystem to make interacting with blockchains a safer experience. — Matthew Tan CEO of etherscan.io

Sentinel Protocol is addressing a major pain point in this cryptocurrency industry: security and fraud detection. The protocol will help enhance the overall security for not only end-users but also other existing platforms including exchanges, wallets, and payment processors. :Loi Luu CEO Kyber Network

INVESTORS

PARTNERS

TEAM

A rock solid team that is ready to delivered coupled with a host of versed advisers

PATRICK KIM CEO : the drive to form Sentinel protocol came from the pain of him having lost 7218 ETH in 2016

HM PARK : co-founder/head of operations

John Kirch : chief Envangelist and a host of others

ICO DETAILS

https://medium.com/sentinelprotocol/updated-kyc-and-public-sale-dates-ff005ff69054

Website : sentinelprotocol.io

check also my Video review on Sentinel protocol

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Blockchain youtuber and informant Twitter(@cryptokey101)

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Blockchain youtuber and informant Twitter(@cryptokey101)

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