With the Sentinel Protocol Scams and fraud in the Bitcoin Ecosystem will soon belong to the past. Via a browser extension, the company will provide protection against any ICO Scams or dubious websites. By Monitoring the “ethical Hacker to terminate” a real-time-Scam-protection. The only catch: The ICO-protection is even an ICO.
It is a day that we don’t need to report Scams and fraud in the Bitcoin Ecosystem is hardly. There is the allegation of the Manipulation in the case of BitMEX, the scandal around the supposedly largest German-speaking ICO Envion or the Android App which pretends to sell Ether. The Sentinel Protocol wants to create a solution – a real-time-Scam-protection.
The product of the Sentinel Protocol is above all a Chrome extension. This runs in the Background while Surfing and warns the users about suspicious sites and possible Scams. It is designed to log all the current Hacks and security instructions, and in the Scanning process. There is also the opportunity to consult in case of Doubt, the so-called “Validators” for the user. These “ethical hackers” are, therefore, specialists who evaluate the relevant pages for the user.
Block Chain-Based Real-Time-Scam-Protection
The System is ultimately based on a Blockchain. On this database, the so-called “Threat to Reputation Database”, writes invariable potential hazards. Users feed the database with validated data, and to grow the Ecosystem in order to help, get Token. The fact that the data for the Scam early warning system on a decentralised basis are on the Blockchain, it is hoped, in turn, self-protection against external attacks. In addition, the Sentinel Protocol is to guarantee a immutability of the database can only be used in exceptional cases by experts changed – how exactly is determined who these “security experts”, in the White Paper, however, in the dark.
So the Team followed, ultimately, an approach that relies on swarm intelligence. With the growth of the Ecosystem, so the hope of the developer, it creates a safer alarm system for Scams, through which you can detect at an early stage whether the investment in an ICO is worth or the total loss threatens.
The irony of it All: the Sentinel Protocol operates as an ICO. Remains only to hope that it is not recognized by the own early warning system.