CoinGecko, the market data aggregator for cryptocurrencies, has updated its Trust score algorithm to take cyber security standards into account of over 400 cryptocurrency exchanges listed on their platform.
From July 1, 20% of the CoinGecko Trust Score according to a Cyber security assessment by the security technology company Hacken.
According to an announcement, the update of the algorithm “a A more holistic view of cryptocurrency exchange“”
CoinGecko co-founder and COO Bobby Ong explained this in an interview with Cointelegraph The company wanted to “work closely with a cyber security company to take into account the stock exchanges’ cyber security score since [la introducción de] Trust Score in May 2019, “but this CoinGecko” has so far not been able to find a suitable partner to support us in this effort. “
CoinGecko evaluates the exchange of collateral
Hacking Cyber Security Score addiction measure “the ability of an exchange to maintain a safe operating environment for both the platform and its users. “
The score changes from 1 to 10 based on the Analysis of “server security [y] of the user, rewarding crowd prevention measures and hacking histories“”
Ong explained that The integration took place after discussions lasting several months between the two companies, and that the association also plans to work together to “train the crypto community in improving personal cybersecurity practices.”
Dyma Budorin, CEO of Hacken, described the Cryptocurrency exchange like one of the “more complex and more financial platforms”that have become the “primary targets of the growing community of black hat hackers”.
CoinGecko will expand derivative metrics
Ong noted that CoinGecko plans to further develop its trust score in 2020 and said: “There are other metrics that we are examining for future updates to the Trust Score algorithm. to make it more robust, holistic and less prone to manipulation, to better reflect the overall health of the exchange. “
CoinGecko also plans to launch new products Market surveillance metrics for crypto derivatives this year.
“”The market for crypto derivatives is moving very quickly and we’re always on the spot watching market trends, ”said Ong.
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