University of Luxembourg and Exchange Officials to Improve Security of Crypto Assets

VNX exchange has signed a partnership with the University of Luxembourg which would see them focus on the various ways in which they can improve or upgrade the security profile of the various crypto or digital assets in the country.

It is to be noted that VNX simply refers to an online marketplace and trading site which focuses on tokenization. This platform or site is said to have been established just last year. The VNX exchange is also said to be a member of the Fintech incubator which is currently based in Luxembourg.

It is believed that the partnership would see the university help the VNX platform to create a whole new web of security for their cryptocurrency which would ensure that they are kept secured at all times. The Security, Reliability, and Trust which is popularly known as the SnT in the university would no doubt on the ground to help with the design of all the necessary software. It is believed that they would be responsible for the IT framework design which would be used to protect the custody of all cryptocurrencies or other crypto assets which is on the platform.

THE PARTNERSHIP WOULD SEE BOTH PARTIES LOOK FOR WAYS IN WHICH THEY CAN DEVELOP THE SECURITY OF THE DIGITAL ASSETS ON VNX EXCHANGE.

However, one researcher and export in the SnT who is also believed to be one of the best-trained experts in Network security has called for caution in the partnership. Dr. Radu asserted that before any real progress can be made, most of the issues which come from planning heterogeneous operating systems have to be solved. It is to be remembered and noted that this system would be used for the issuing or distribution of token using the Blockchain technology. he further asserted that it would be imperative that all security functions which has been developed have the duty of ensuring that all crypto asset and every transaction digital in nature which is carried out on the platform is safe and free from any type of obstacles.

The head of the VNX exchange in the person of Tkachenko Alexander has also said that before the trading platform can be said to have made any development, there needs to be a certification on several fronts such as regulatory functions, investor protection and so much. It also has to meet a compatibility level with the rest of the market.

Want to read more news? Visit our exchange news page.

LEAVE A REPLY

Please enter your comment!
Please enter your name here