The importance of Klever ID in Klever Exchange

Most crypto companies aren't totally safe from security threats but Klever ID comes as a way of mitigating risks, if not, providing full enduring safety

Never downplay the need for security in whatever endeavor you find yourself or involve yourself in. Security has been the backbone of some corporate industries from malicious and dreadful attacks in the form of spywares and ransomwares. 

What are vulnerabilities?

A vulnerability is a weakness in an IT system that can be exploited by an attacker to deliver a successful attack. They can occur through flaws, features or user error, and attackers will look to exploit any of them, often combining one or more, to achieve their end goal.

The use of the internet has created so many great opportunities for people to interact with each other globally and this has also created a vast majority of business interest for non-users who are basically physical business entrepreneurs.

However, as benefiting as the internet, there are also the challenges of security and vulnerability as most small businesses and individuals tend to play down on the need to be security conscious of their ID accounts and platforms for services.

The usual targets

Some of these platforms may come as a flaw, which is an unintended functionality. This may either be a result of poor design or through mistakes made during implementation. Flaws may go undetected for a significant period of time. The majority of common attacks we see today exploit these types of vulnerabilities.

There is also the possibility of user errors, which puts the users as a significant source of vulnerabilities. They make mistakes, such as choosing a common or easily guessed password or leaving their laptop or mobile phone unattended. Even the most cyber-aware users can be fooled into giving away their passwords, installing malware, or divulging information that may be useful to an attacker. These details would allow an attacker to target and time an attack appropriately.

Blockchain applications are also on the radar

This is also applicable in the blockchain technology and cryptocurrencies space where a high level of financial attack has been made on blockchain companies and crypto exchanges by hackers who steal customers' funds and cause so much hardship to the organizations.

There are so many instances of crypto transactions theft reported globally but with good forensics experts on the trail of the culprits, even though blockchain transactions are hard to trace, they might get caught because of the uniqueness of the blockchain technology and the forensics team level of expertise.

Klever ID: a tool against virtual malice 

The Klever team with highly efficient developers have gone a step further in ensuring security on the use of the Klever application and Klever exchange with the introduction of the Klever ID, which enables a user to create a specific ID for easy identification and authentication on all applications rather than continuous entering of login details within the Klever ecosystem. 

Klever ID will make it very simple to send funds to colleagues, friends, family and business associates who are registered under the Klever ID. And do not worry, if they are not registered under Klever ID you will be also able to send them the funds and ask for registration so they still will be able to receive it later on.

To achieve this, Klever ID uses high-level security standards based on state-of-the-art security architecture, and is also able to scale to tens of thousands of new incoming users requests simultaneously.

The Klever ID is also very important for our trading experience on the Klever exchange as the Klever team ensures that all users take the necessary precautions to prevent user funds from possible theft and also by not revealing any sensitive information that can lead to a compromise of the users account.

The Klever team would continue to play its part by ensuring a sustainable high level of security of user funds and by educating the public on the need to manage sensitive information in a Klever way.

It is a Klever thing to do

James Enajite

Klever Writer

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