SmartState blog

June 2, 2023

SmartState launches Security Accelerator for crypto & blockchain projects

We are thrilled to announce that SmartState has launched the Security Accelerator for crypto and blockchain projects. Supporting the idea of crypto mass adoption, SmartState focuses on raising the overall security level of the Web3 industry. SmartState Security Accelerator aims to make higher security level achievement easier for crypto & blockchain projects on every stage.Confidence in your project’s security is our mutual ...

Read more
May 28, 2023

Cryptocurrency exchanges. How to secure them

Cryptocurrency exchanges (privately-owned platforms which make trading of various crypto assets easier and more convenient) need to be secure. A lot of users are attracted by reliability and security, not only popularity and convenience. They can lose trust if lack of confidentiality is suspected. In the quickly developing crypto world owners of platforms seek better security conditions and comfort for future users to attract more customers ...

Read more
May 26, 2023

Privacy-enhancing technologies (PETs)

Privacy-enhancing technologies (or PETs) utilize data protection principles to enhance data security and minimize the use of personal data, helping users to protect their personal information. They have been around for a while, and presently enjoy a return to popularity. These technologies can enable, enhance and preserve data privacy throughout the information lifecycle. Customers are concerned about their privacy, which can lead to brands ...

Read more
May 22, 2023

Bitcoin Pizza Day

Bitcoin Pizza Day is a holiday celebrated on May 22nd since 2010 and related to one of the most exciting episodes in cryptocurrency history. That day the first commercial purchase was made by means of Bitcoin.It happened soon after a great financial Wall street crisis and spirits and expectations concerning the financial system were quite low. A Hungarian programmer from Florida, Laszlo Hanyecz, who was a crypto miner himself and kept in ...

Read more
May 21, 2023

What is a Sidechain in blockchain

Sidechain is a separate network connected to another blockchain (parent blockchain or mainnet) through a two-way peg. These side networks operate their own consensus protocols, which helps to improve their privacy and security and minimize additional trust required for network maintenance. A user from the parent chain sends their coins, and when the transaction is completed with additional security measures, the assets reach a user from a ...

Read more
May 16, 2023

Blockchain forensics and its use

Blockchain forensics is a set of practices of using blockchain tools and techniques to analyze data, find, trace and prevent criminal activities on a blockchain (such as fraud, money laundering, illegal transactions, etc.). Using specialized tools and procedures it helps to extract and analyze data (transaction data, addresses, etc.) and discover criminal groups or individuals involved in illegal activity. The field of blockchain forensics ...

Read more
May 14, 2023

Blockchain in education

The story began in Massachusetts Institute of Technologies, where experts were doing a focused research of the possibility of using the Bitcoin blockchain to store education records. They used the OP_RETURN function, which allows writing additional data into each transaction, and suggested calculating the hash of each document by means of SHA256 algorithm, adding an encrypted signature. Using that, after five approvals on the blockchain the ...

Read more
May 10, 2023

Blockchain in Space industry

Taking a look at the history of science-fiction literature, there is hardly any writer who’s never dreamt of advanced civilizations occupying deep space (no matter, terran or alien), their advanced technologies and easy access to information and assets. Let us be science-fiction dreamers and imagine our own future, however it could look, but with obligatory features… blockchain and crypto.Lots of benefits can be imagined ...

Read more
May 6, 2023

Use of NFT in wine industry

The most expensive bottle of Champagne in history was sold in July 2022 at the wine auction. Two Italian investors paid $2.5 m for Champagne Avenue Foch 2017. However, not only the bottle was their ‘prize, but a special NFT created in collaboration with famous artist and the author of NFT ‘The bored Ape Yacht Club’ collection. In 2021 Dom Perignon wine house presented a limited collection of just 100 bottles of Dom ...

Read more
May 1, 2023

Central bank digital currencies (CBDCs)

Central bank digital currencies (or CBDC) are a kind of currency issued by a central bank which is in many ways similar to crypto currencies (however, they are not exactly the same). Their values are fixed and controlled by the emitting central bank, and equal that of the corresponding fiat currency of the country where they were issued. They can be called a digital form of local fiat currency and are aimed at simplifying monetary and ...

Read more