Trustology's firewall tool helps protect digital currency clients and users from interacting with unauthorized DeFi protocols, depending on how the escrow tool is configured.
With the rise of decentralized finance, ensuring the security of investors and ecosystem participants DeFi It has become a priority for companies providing these digital infrastructures. Therefore, Trustology, a technology company that offers security services for private and institutional clients holding digital assets, announced the launch of a custody firewall, a tool that allows selecting DeFi protocols or decentralized exchanges (DEX) most convenient, depending on the settings and filters selected by a given client or fund.
The new tool, which goes hand in hand with TrustVault, allows institutional users to move their digital assets, between selected or authorized DeFi protocols, securely and easily. Likewise, the tool allows you to use advanced security controls, making it possible to navigate the universe of digital assets in real time and without risks. The new tool is estimated to boost Trustology's potential and attract more clients and institutional investors to participate within DeFi ecosystems.
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Greater security for investors
Decentralized finance (DeFi) and the financial growth opportunities that accompany it, such as liquidity pools and yield farming, are relatively new innovations within the crypto ecosystem, but they are capturing everyone's attention in an impressive way. Still, like everything, gigantic opportunities like those offered by DeFi come with risks of the same proportions. Therefore, to make this universe less wild, Trustology is developing new security controls that allow interacting with the protocols that exist within these ecosystems in a more reliable and secure way.
According to the company's statement, the DeFi universe offers convenience and accessibility to digital and decentralized financial services, compared to those offered by the traditional financial system, crammed with bureaucracy and tedious administrative processes. Therefore, its objective is to guarantee a high level of security and trust, without sacrificing the advantages and benefits that decentralized finance offers.
The company conducted in-depth research to understand the current situation of security controls in a rapidly maturing market like DeFi, which in just 2 years has managed to reach more than $9,3 billion in locked value, according to the latest figures. shown by DeFiPulse. The results of this research show that there are currently several DeFi-ready wallet solutions, but they were designed with users in mind and do not offer custody services, nor do they have institutional security controls for companies to operate legally in DeFi. So, to meet the top priorities of institutions that manage a large number of transactions, Trustology has been innovating, since 2017, in security protocols and tools for the efficient and secure management of private keys.
TrustVault, the solution for secure custody
This decentralized platform allows the construction of the DeFi firewall, which inherits all the advantages that TrusuVault offers, which in turn allows you to deploy, scale and manage private keys and digital wallet accounts securely. In this regard, Alex Batlin, CEO of Trustology states that:
“As the DeFi firewall is built on the TrustVault platform, it inherits all the benefits of it, such as its embedded HSM firmware, combined with advanced multi-signature and permission list insurance and protections.”
The potential infrastructure benefits of this platform allow the creation of a tool focused on security, scalability and resilience, which has the ability to sign and transmit transactions efficiently. Transaction processing times are also quite fast, with intervals of less than 1 second. So Trustology has the potential to ensure that interactions and operations in DeFi are carried out safely, quickly and easily.
Future plans of the company
To continue innovating within the sector, Trustology plans to introduce notifications in DeFi protocols, which will function as an automated system so that users are aware of all the movements that occur within the sector. This will be something similar to the recent launch of EPNS, a push notification protocol that alerts users of applications, wallets and purses to Ethereum.
DeFi notifications in Trustology will inform a fund manager or user when changes occur in the price of a particular digital currency, for example.
“This is an automated system for dealing with events within the DeFi world, such as when a fund manager has placed a large amount of collateral in a particular smart contract and the price of ether (ETH) has gone up or down.”
Batlin says that one of the main problems that are present within applications based on blockchain is the lack of a notification service, so users must constantly monitor the blockchain to find out if a change has occurred. Failure to do so may result in your positions being liquidated. Therefore, the importance of receiving an automatic notification through webhooks or emails, and keep clients and users informed of all movements that occur in the industry.
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