ICO Development Company
ICO has become a huge aspect of interest. With this growing interest, more and more people are trying to get their hands on a successful token. Of course, no one can guarantee the success of a coin. Rather, it can become unsuccessful in many ways. Well, the first concern regarding ICO is always going to be security.
Hackers are always active with their bad acting in the blockchain world. Yes, blockchain technology did come up with better security measurements. However, hackers are also trying to come up with a countermeasure. From the very start, bad actors tried to hack capital from the ICO projects.
It’s understandable why they would want to do so. A big amount of money is being invested. Not to mention, the amount of money is not small in any way. Without any government authority to look after the security, ICO projects were always targeted.
Anyway, taking the anti-hacking measurement is always the best security. The best way to do that is by taking authentication measurements. Taking up multiple authentication procedures can always decrease risk factors.
Hiring and investing in a permanent development team is expensive. Yes, it is always great to have everything sorted out by a specific ICO company. But if you want to save some money and also get the best result – ICO development company will always help. Because they have a mix of experts in their lineup.
Mainly, the solution here is by hiring development companies. To understand the benefit of hiring one team is obviously crucial. But before that, we should shed some light on the problems first.
So, what’s the biggest risk here?
Every ICO project comes with a single ICO script. Hackers use just one ICO script address for their single attacking point. First, they attack the address and change the information of that address. This way, they can change or alter all the funding to any specific route they want.
So, the biggest risk is always about security. Just like we said, security and management is the biggest asset for any ICO project. Without a secured website, funding wallet, and payment gateway – bad actors can easily attack your fundings. And that can’t be good for you. Well, the security concerns start from medium to severe problems.
Most of the problems are regarding software and web development. You have a great company and a perfect goal. However, without ensuring safe standards – it will be foolish to start your business. So, what risks will make you suffer? Here are the possible security risks involving your ICO projects:
First, ICO Organizers Face Security Problems a Lot
Blockchain technology creates a stable network where everyone in the network can access all the information. However, ICO companies organize everything online. In order to connect and reach the public, they create websites, purchase or develop wallets, and software. In this software, there is an authority or organizer.
Most of the time, attackers can bypass 2FA or hack the organizer account. After that, changing wallet addresses or taking funds away becomes easier.
Security Issues with Smart ContractsSecurity Issues with Smart Contracts
Well, smart contracts are considered a weak link in ICO projects. So, ICO companies are careful about making a secured smart contract. These problems occur when you don’t have good programmer expertise. Also, insufficient coding testing is another reason for the problem.
ICO Web Applications
For the best management, a lot of ICO web applications are introduced daily. Arbitrary file reading, code injection, web server disclosure for sensitive information are the major insecurities.
Attack Against Investors
This is another problem ICO companies face is the attack against investors. Well, the problem mainly occurs for verification failure and not having KYC compliance.
Mobile Applications Vulnerability
Mobile application vulnerability is probably the most severe form of insecurity for ICO projects. Yes, mobile applications make it convenient for investors to enter your project. However, mobile operating systems are not safe by any means. Data backup, information leaks are always occurring without anyone noticing. And these vulnerabilities can make the project suffer a lot.