Cryptocurrency Q&A
How is geocoin secured?
How is geocoin secured?
MichaelSmith
Tue Jul 16 2024
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7 answers
1080
Could you elaborate on the security measures employed by geocoin? I'm particularly interested in understanding how it safeguards against potential vulnerabilities and hackers. Does it utilize robust encryption algorithms? Are there any additional layers of security, such as multi-signature transactions or decentralized storage? Additionally, what steps does the geocoin team take to monitor and mitigate any security threats? Your insights into these aspects would greatly assist me in evaluating the overall security posture of geocoin.
7 answers
Nicola
Thu Jul 18 2024
The GeoCoin token is safeguarded by a network of miners from Ubiq.
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ZenBalance
Thu Jul 18 2024
These miners employ the Ubqhash mining algorithm, a robust and secure method for token validation.
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Raffaele
Wed Jul 17 2024
The introduction of the Ubqhash algorithm was not arbitrary; it was a direct result of a governance vote.
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CryptoNinja
Wed Jul 17 2024
This overwhelming support underscores the trust and confidence the community has in the Ubqhash algorithm.
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Arianna
Wed Jul 17 2024
The Escher governance system, which oversees changes to the Ubiq network, facilitated this vote.
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