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Sunday, 15 July 2018

Multiven - 1st Blockchain-based marketplace for IT products - Project Review


cMultiven-ICO-Review, Blockchain, Cryptocurrency
It happens to be a blockchain platform which aims to protect the decentralized nature of Bitcoin, Ethereum, and other public cryptocurrencies. It is a well-known fact that Bitcoin is operated through several nodes in different places. These nodes are connected with each other through the internet. This makes the internet the most powerful factor behind the operations of cryptocurrencies. The aim of the Multiven platform is to protect these nodes (computers) from cyber-attacks. 

A threat to the decentralized nature of Cryptocurrencies

One of the most powerful aspects of cryptocurrencies is its decentralized nature. It means that no government body or powerful institution is controlling the operations and hence no one can ever manipulate the system in his or her favor. This feature is the only thing that separates the fiat currency from digital currency. The world is treating digital currencies harshly with all sorts of restrictions imposed to discourage crypto trading and investment. Any government or regulatory body can launch a cyber-attack on any node and disconnect it from the system. Multiven is the first platform which has noticed this vulnerability and offered a solution to secure these nodes by moving them to a secure place, virtually. 

How vulnerable are Bitcoin and other cryptocurrencies?

We all know that Bitcoin and other digital currencies are facing harsh bans from the government and other institutions. There are few countries which have banned trading in digital currencies and have also put a ban on the exchanges operating in their jurisdiction. All the status quo is against Bitcoin and they are posing every possible harm to this currency (or other digital currencies). The pretext of these bans is that it can be used for illegal purposes and several attempts have been made to defame the coins, all of them got failed. The second option to halt the cryptocurrency process is to disconnect the internet which will eventually disconnect all the nodes and the system will be crashed. The only possibility to harm Bitcoin is to take measures to protect the nodes form a cyber-attack. They could possibly launch a centralization attack on the nodes of the network which will bring the whole ecosystem to halt. Multiven ensures that all the nodes are protected and no one could compromise them for manipulation. 

Negating the monopoly of Cisco

Multiven-ICO-Review, Blockchain, CryptocurrencyThe Internet is connected through hardware devices such as switches, routers and other networking devices. As of today, Cisco is providing around 70% of the network devices which is resulting in its stronghold in the market. This can lead to a monopoly where they can disconnect the nodes and make the system dead. In another estimate, 90% of the nodes are connected through Cisco devices. These devices are prone to errors and have loopholes which could easily be compromised by the hackers. Multiven focuses on this problem and offers a solution which makes the users feel secure. It is a truly blockchain based platform which focuses on security features of the nodes to protect the users from costly data breaches.  

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Item Reviewed: Multiven - 1st Blockchain-based marketplace for IT products - Project Review Description: A blockchain based platform which aims to protect computers from cyber-attacks Rating: 5 Reviewed By: Raihan Shakeel
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