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The creators of Sentinel Protocol have set themselves the goal of overcoming the current disadvantages of decentralization in the field of cryptocurrency technologies, transforming this ecosystem into an environment protected and protected from hacker threats.
Using a collective intelligence system created using decentralization, the project combines cryptographic functions and artificial intelligence-based threat analysis algorithms to create a safe and innovative platform.
History and creation team
The creators of the project highlight the current difference in the level of protection against security threats between individual users and business users. The latter can afford to spend large sums of money to ensure IT security.
According to the SANS Institute, in 2016 the largest category of costs for financial institutions was to ensure cyber security (10-12% of the annual budget of organizations). The Cybersecurity Ventures report argues that the size of the protection systems market in this sector will grow by $ 1 trillion from 2017 to 2021 as the constant increase in the number of cybercrime has led to a critical level.
The DAO case in 2016 was the first serious incident in the field of security breach in blockchain technology and gave the developers of the idea of the Uppsala Foundation in Singapore to create the Sentinel protocol project.
Core team:
- Patrick Kim (founder and CEO, he has experience with Cisco, Palo Alto Networks, Fortinet, F5 Network and Darktrace).
- HM Park (co-founder, head of operations, worked at F5 Networks, Darktrace, Penta Security Systems).
- John Kirch (Evangelist leader, he worked on Darktrace, Watchguard, Softbank, Bank of America).
- Dayeol Lee (Lead Developer, graduate of the University of California, Berkeley, holds a doctorate in computer science, security systems specialist, and previously worked in companies such as Penta Security Systems, Inc. and WINS Co., Ltd. ).
- Guo Feng (chief developer, worked in Singapore Exchange, Accenture and NCS).
Overview of the main features
Although the blockchain technology is aimed at ensuring the confidentiality of personal data, the lack of a guarantee of confirmation of the identity of the user does not allow him to take part in services and financial projects. A blockchain consortium could be a way out of this situation, although it is associated with some disadvantages of public decentralization. The creators of the Sentinel protocol offer their approach to solve this problem.
The Security Intelligence Platform for Blockchain (SIPB or Sentinel protocol) has the following security features:
- Threat database (TRDB);
- Integrated safe wallet with automatic learning (S-Wallet);
- Divide the isolated malware analysis environment (D-sandbox).
Threat database
TRDB immediately solves two problems related to current cyber security threats. The first is a centralized database of security companies. Storing threat information in a single centralized location makes data vulnerable to manipulation and abuse. The database becomes an obvious target of the Sybil attack, a server is hacked and the service is stopped. This is the fundamental problem of the centralized client-server model in the modern Internet.
The second problem is the lack of common knowledge among companies that specialize in providing IT security. The more information on risk is collected, the more likely it is to prevent cybercrime. This is due to the lack of incentives for these companies to join and work together to create a complete database.
Thanks to the collective intelligence, TRDB is able to collect data on hackers, malicious links, phishing addresses, antivirus software, etc. TRDB is only updated by security experts to eliminate systematic errors, such as false positives. However, ordinary users can also participate in this process in two ways: through automatic and manual reporting functions.
In the first case, unknown threats will be automatically detected by the portfolio security system based on the machine learning mechanism and sent to the database. Manual reporting allows the user to report risks. The community will subsequently verify this information.
TRDB will be provided in the form of an API so that this information is available to any person or organization.
S-Wallet
S-Wallet has the functionality of antivirus software, but also has a fundamental difference. Antivirus software responds better to new threats only after receiving the latest updates via a centralized server. This approach is ineffective against new unknown threats, such as zero-day attacks.
S-Wallet analyzes threats, their trends and chronology to respond to unknown attacks.
S-Wallet uses collective intelligence by connecting to TRDB and provides essential security services, such as cryptocurrency address filtering; URL / URI filtering; data analysis; search for and detect the risk of fraud.
The fraud detection system (FDS) is based on machine learning technology that operates on all distributed registers and identifies transactions that could potentially be fraudulent, thus preventing secondary damage.
D-Sandbox
D-Sandbox is a security mechanism for executing untested programs and codes on a separate virtual machine without risk to the entire system or host. This function is based on analysis using the collective mind.
D-Sandbox has two key advantages. Firstly, this approach has significant economic benefits. This ensures infinite scaling between distributed systems and limited in operation only by the potential of virtual machines. The second advantage is that D-Sandbox is not only able to solve the problem of computing power loss using the PoW algorithm, but it is also able to create a better security ecosystem. The computational capability of the Sentinel protocol network nodes can be used for further analysis to detect malware.
In the end, the advantage of a decentralized system is that free resources can be used where they are needed. In addition, individual users will be able to help using D-Sandbox through a virtual machine to improve the overall safety of the ecosystem.
Sentinel Protocol Ecosystem
One of the biggest obstacles to business continuity in the cryptocurrency sector is security. Recently, the number of incidents and hacking costs of customers has increased significantly and security systems have failed to cope with a level of threat.
The Sentinel protocol overcomes this problem, on which security experts are working in the field of cryptocurrency technologies by combining collective intelligence.
By joining the Sentinel Protocol community, users of digital currencies can easily gain insights and help with all security issues. They can also use security solutions provided by the Sentinel protocol. This approach aims to ensure the global security of the cryptographic world and its prosperity based on the fundamental principle of decentralization.
Theft protection system
While a large number of cryptocurrency applications are entering the market every day, there is currently no system for verifying the integrity of digital resources. This means that it is impossible to track and identify stolen virtual money.
To combat this, the Sentinel protocol will behave like credit card providers who block plastic cards in case of theft or loss. The system keeps track of all stolen cryptocurrencies and passes this information to cryptographic resource providers. Thus, the stolen digital assets will be tagged and will not be used for exchange, payment or conversion into fiat currency.
Preventing the distortion of transactions
Addresses registered as fraudulent and all related addresses will be entered into the database, which will be available to all participants in the system in real time.
One of the examples of this approach is an ICO fishing, in which thousands of people participate in a short period of time. Even if the hacker changes his address and transfers his funds, all users will be automatically notified of the new suspicious address. This can completely change the security industry paradigm, as there is currently no platform that can provide users with such information.
To date, there is simply no systematic approach to identify suspects and to protect users from potential harm.
Consent to sentinel protocol
The platform uses a delegated trial of the pole algorithm (DPoS), presented by BitShares and invented by Daniel Larimer. The "guards" appointed by Uppsala Foundation employees are a group of trusted institutions or individuals with the necessary qualifications, including security teams on servers, employees of specialized research companies, or a group of white hackers. All of them will be certified to confirm their status and experience.
They will receive points for their work, such as the identification of threats and scammers. Based on their effectiveness, users will be able to vote for a particular "guard", increasing or decreasing its reputation. If the actions of the dishonest "guard" in his hand are harmful, he will lose his reputation.
Trading and liquidity
- Ticker – UBT
- Major Exchanges – Bitrex, Ubbit
- UPP token price $ 0.0134082748 (+ 3.82%); 0.0001487522 ETH; 0.00000391 BTC
- Volume 24 hours $ 649,370 Market Cap $ 3,092,586
- Returns from ICO: 0.11x USD; 0.73x ETH; 0.24x BTC
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. It holds investment positions in the currencies, but does not carry out trading activities in the short term or daily.
Featured image courtesy of Shutterstock.
