MARKNetwork Education Part 9:
How secure is MARKMining Masternodes as a service?
MARKMining offers an automatic and intuitive platform to participate in powering the Masternodes with its reliable hosting service. Developed withcutting-edge technology, the platform offers tight security, reliable services and quick to set up full and shared Masternodes.
A highly secure and intelligent set up is spread across the frontend, backend and at Masternode server setup level for the MARKMining platform users. The three key elements of the platform are tightly coupled to support secure transactions and Masternode operations.
Let us peel off the security layers from top to bottom to understand how impenetrable the MARKMining platform is:
We begin early!
Right when the user signs up to set up a Masternode, the security aspects come into play.
1) The user is asked to create a secure password that will always be used to login to the MARKMining Platform. Nowadays you are doing so for almost every App or website that you are using, so what is special about MARKMining Platform password security.
2) The Password is stored in the database as a hash or simply in encrypted form. No one knows the password except you giving it next level security.
3) User passwords and wallet addresses are encrypted and are not even visible to the platform administrators.
4) The 2-factor authentication with the Google authenticator for example is that extra layer of security every time you log in to the platform or make any transaction or changes to your profile or settings.
5) The login will have a CAPTCHA to ensure protection against bots.
All these steps plug the soft spot and vulnerability of any technology platform.
How do we handle Forget or Reset password situations in a secure manner?
So, we told you we do not store your MARKMining platform password in plain text. It makes sure no hacker can lay hands on the password. But what if you forget the password?
In case it happens, the system sends an OTP to your registered email address. Using the OTP, you can set a new password for the platform and are set to use our secure services again.
As a platform user, you can changeyour password only when you are logged in the platform. An email address change requires you to raise a support request. This is to protect your account against hackers.
To further enhance security of the platform the front-end and back-end communicate only via encrypted APIs using Advanced Standard Encryption (AES).
The backed security aspects are:
1) Verification of email via Double Opt-In at the time of registration
2) and when the user forgets the password.
While setting up the Masternode, backend procures a Masternode address and sends it to the frontend. Once the user sends the tokens to the Masternode address, user verification is initiated again for security purpose.
At the Masternode level, a Peer to Peer server is set up with anti-injection protocols and firewalls in place. It creates a closed VPN ensuring unbeatable security of the coins you trust us with. As the call is always server to server without any middleware involvement, the chances of any kind of hacks are eliminated.
Masternodes collateral is held in cold wallets with highly secure mechanisms promising fund safety. The two stages of wallets involved are
The staging wallet acts as a buffer that holds the token until they reach the minimum token count for the Masternode to start. Once the collateral matches the token count, the tokens are transferred to the Collateral wallet.
The Staging wallet and the Collateral wallets are given an exclusive security advantage in cold storage.
This kind of Masternode set up is call Hot / Cold Masternodes setup as it involves two different wallets one hot and another cold (Staging and Collateral Wallet). The hot wallet (Working Wallet) is the one which you use to withdraw the fees into. This wallet may be installed on your mobile phone or a personal computer. A secondary private key known as Masternode private key is used to communicate between the hot and cold wallet. The private key is stored in an encrypted fashion ensuring high-end security.
Other than fully encrypted wallets and isolated execution environment, backend also implements transaction locks to eliminate multiple commits to the database.
The integrity of the MARKMining database is another prominent security element that ensures that critical user data like user balances, transactions, wallet addresses, passwordsare stored in an encrypted form. In no case, the internal database information will be compromised.
The development team works with a strategy to minimize risk at every step of hosting a Masternode with MARKMining.
If you are getting influenced by the growing popularity of Masternodes, you necessarily do not need to get into the technical details to host a Masternode. We take care of the Masternode setup for you by offering a simplistic and highly secure platform which we call MARKMining.
At MARKMining we manage
• The server set up and maintenance
• Bandwidth availability and
• Security aspects
Hosted Masternode services offered by the platform shoulder the risk of technically operating a Masternode as well as the security standards managed by the experts.
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