How MirrorFly can Help Cryptocurrency Industry to Build a Secured Communication

Published On September 26th, 2023 Engineering

Ever since the inception of cryptocurrency in 2008, Bitcoin has radically enlarged in terms of popularity and value. These currencies and the market surrounding it are predicted to continue its exceptional growth. 

In the last 5 years, the price of one Bitcoin reached a high of nearly $20,000 and the number of total transactions per month has increased roughly tenfold.

Cryptocurrency investors, recognized other industry entrepreneurs dealing with digital tokens, online enthusiasts, and the various market investors have flocked to messaging apps to chat about blockchain, a real-time chat technology that secures the online communication of Bitcoin users. 

As the industry endures its stellar growth, an ever-increasing amount of people have started to deal with Bitcoins. 

A recent survey states that, 900% increase in global cryptocurrency market value from March 2020 to Feb 2021.

The requisite for security in cryptocurrency

With the evolution of the growth in the number of people involved and the global attention paid to Bitcoin, upcoming dealers should become more cautious of the security and their privacy during the interactions on the market, including their online communication.

For instance, in healthcare, the most successful treatment plans are tailored to an individual’s diet, environment, genetics, and personality. 

Likewise, the security methods for Bitcoin dealers should be tailored according to their market, resources, process of transaction and mainly user interactions.

Trends of Cryptocurrency in real-time chat: 

Few key trends drive the adoption of cryptocurrencies and blockchain technology by real time chat application such as, 

  • New Business Models for fund development and vector growth
  • Real-time chat app makers see Blockchain and Cryptocurrency as a way to differentiate themselves
  • Chat apps are typically transparent, no need to Trust In Trustless Systems and they are extremely essential for monetization of business
  • The value of these Bitcoins is ultimately a social construct as it helps to create social communities for cryptocurrency transactions.

When does the problem really arise?

Investing in Cryptocurrencies offer the real-time chat platform providers a way to build their economy or at least enable economic transactions inside their services. It thus creates a business model, fund increase and a path for growth.

Nevertheless, Bitcoin has faced several security issues like all the high growth and high profit market does. 

The nature of the Bitcoin dealing is the peer to peer transactions and mostly it is unregulated, which is also the attractive part for the people in the Bitcoin market. 

Therefore, it does require a high level of privacy while dealing with Bitcoin and can lead to security challenges as well.

The lack of regulation in the system paves the way for fraudsters to abuse the Bitcoin transactions. 

In the last few years, there were several kinds of attacks in Bitcoin networks, including the unauthorized transactions, deanonymization of clients and double spending. 

Though some of the attacks have been dealt with security measures, Bitcoin dealers require vigilance to sort out other security issues.

The logical answer is Guaranteed Security

Security and privacy are the two essential operations of the Bitcoin industry and these areas are highly valued by clients. 

Cryptocurrency with real time communication

Blockchain, a chat technology that is used in Bitcoin dealing functions using cryptology and hence it has the core users’ security in mind. 

Communication is really important between the users and the dealers who want a truly secured experience. 

As a result, the communication should use the same code of cryptology as the heart of the blockchain.

Real-time communication like the Mirrorfly is one of the greatest options for Bitcoin dealers looking out for encrypted communication. 

Through a series of industry-leading security measures and deep analysis of reports and statistics, it delivers a package of secure communication channels to its users through the below benefits:

  • Data Encryption: No data is stored or processed directly; it thus allows Bitcoin dealers to operate freely without leaving unwanted records of their communications.
  • Secured file transfer: File transfers will ensure that files never enter other servers. Data server is handled by your own server with encryption from the sender and decryption upon receipt.
  • Wider networks: Connect and reach with a group of people at once through group calls and video conferencing methods.
  • Real time language translation: Communicate with people from any part of the world through any language just by double tapping the messages.
  • On security front:  Controls the spam flood protection, makes sure that the data is end-to-end encrypted with advanced encryption standards.

Therefore, if you’re dealing in Bitcoin, you should choose a communication system that ensures security at the center of its program.

Real-time chat: The medium of message in Crypto world

The potential large profits in the dynamic Bitcoin industry are attracting a several number of customers into the market. 

Any Bitcoin dealer can place a value with security and privacy to avoid abuses in the systems or undesirable attention.

Mirrorfly will offer Bitcoin dealers with a secure tool that meets and tops industry standards with data encryption for peer to peer file transfers and to avoid storing data on external servers. 

Bitcoin dealers can benefit from this ever-expanding market by reducing their exposure to bad actors and adverse attention.

There’s no way we can predict how quickly the market for decentralized technologies will grow. 

However, one thing is for sure: more the people talking about it through messaging apps, dealers can ripe the benefits than ever before.

An ultimate guide on how WebRTC works in Video calling

Alexander S

Alex Sam is a digital marketer by choice & profession. He munches on topics relating to technology, eCommerce, enterprise mobility, Cloud Solutions and Internet of Things. His other interests lies in SEO, Online Reputation Management and Google Analytics.

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