How Haven Amped Up Its Security Measures — With Haven 2.0?

Expect Privacy Haven Protocol is the world’s only network of private stable assets. Built on Monero and including xUSD, the world’s first private stablecoin. Haven Protocol will change the world by enabling users to hold crypto, in private, without the risk of volatility.

Haven is the world’s only private blockchain network for stablecoins. In recent times, as more and more blockchain networks and cryptocurrencies are emerging, there is significantly more emphasis on the privacy of end-users.

While numerous people explore networks such as Bitcoins and Ethereum, a specific niche is looking to develop, use, and propagate blockchain projects closer to the core philosophy with which cryptocurrencies were first built.

These philosophies include true independence, complete autonomy over money, and zero interference from authorities, mediators, or intermediaries. The final one needs completely decentralized systems and a private network such that transactions and assets cannot be traced by an outsider such as the government or any third party.

Private-You have the right to financial privacy. Haven keeps your accounts, transactions and assets private.

Haven is a stablecoin cryptocurrency project built with this intent. People can participate in cryptocurrency transactions and leverage services without worrying about the volatility of the crypto market.

The project also recently upgraded to Haven 2.0, in which security measures seemed to be one of the primary focuses. Here are a few security measures it set up that can be a fundamental framework for any crypto project.

Stable Haven provides a range of synthetic fiat currencies and digital assets, enabling commerce and portfolio diversification.

Code And Security Audit

Haven 2.0 had implemented a new burn and validation logic, and to ensure that its security standards were up to the mark, it employed CyberStack to perform a security audit. A detailed report by the same company showed the good aspects of the code while also suggesting improvements in certain areas.

No Middlemen-All conversions and transfers are performed in-vault. No counterparties and no middlemen, giving you unrivaled control and security.

Penetration Testing

Penetration testing is essentially the process of simulating attacks on a system that might occur in real-time and finding out how strong the network’s security is, the flaws and loopholes within it, and how they can be fixed.

Haven 2.0 performed pen tests throughout the development process by collaborating with a Monero specialist. Thus, it improved the code and optimized it to attain maximum efficiency and security.

Community Owned Since the beginning, Haven has been led by a grassroots community of crypto enthusiasts.

Bug Bounty Program

This is becoming an increasingly popular way to gain more traction from blockchain and cryptocurrency experts. The program allows people to identify loopholes and flaws within the system, report them to the team, and gain bounty rewards in exchange for them.

Haven 2.0 offers a $100K bounty for people who report critical loopholes within the system, intending to create a community of experts who can help the project become better.

VISION “The single biggest, most disruptive, technology that could come out of crypto is a decentralized privacy focused stablecoin. That is the holy grail.” Mitchell Nicholson — Former Canadian Central Bank Economist

Conclusion

Besides these, there are other efforts, such as unit tests, codebase refactoring, etc., that the team has taken. These measures might be pretty fundamental but still seem to be neglected by numerous companies.

So other emerging blockchain projects can use this as a basic framework that needs to be followed while also making efforts to build on top of this framework and enhance the security of the blockchain network.

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Block Depot “Block Talk” discerns the Alt Coin Markets & provides our clients with essential detailed blockchain analysis of the BEST cryptocurrencies projects.

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Block Depot “Block Talk” discerns the Alt Coin Markets & provides our clients with essential detailed blockchain analysis of the BEST cryptocurrencies projects.

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