Fintoch’s HyBriid 2.0 Technology Upgrade Brings New Changes to the DeFi Market

December 19 15:08 2022

Recently, Fintoch, a financial platform from North America that focuses on improving DeFi security has upgraded its exclusive HyBriid technology to enhance and strengthen the security of its platform once again and it is widely expected that such an upgrade will create another success for Fintoch.

Fintoch is a diversified financial service platform that provides users with loans and lending. Its developed HyBriid Security Technology incorporates a number of sophisticated technologies such as “multiple signatures” and “zero-knowledge proof”, which can achieve truly decentralized supervision and automatic stop-loss when clearing conditions are met to ensure that users’ funds are free from any risk of loss. Fintoch not only advances the development of blockchain security technology but also brings the security of crypto market transactions to a higher level. Recently, Fintoch upgraded its technology again to HyBriid 2.0 and the security protection has become more evolved.

HyBriid 2.0 strengthens the role of supervisory nodes in HyBriid’s security technology. Originally, when a user wanted to borrow money, the HyBriid Security Technology would randomly select 10 out of 100 anonymous supervisory nodes and generate one private key. But in HyBriid 2.0, it has been upgraded to “twice” randomly selecting 10 nodes each from 100 supervisory nodes, increasing the number of private keys from one to two, and then using multi-signature technology to create a multi-signature lending contract wallet with two supervisory private keys and the borrower’s private key.

The lending contract wallet requires two of the three parties namely the borrower and the two anonymous supervisory nodes to provide the private key authorization in order for the fund to be called and those three parties must jointly comply with the agreement to use the funds. According to the rules of the agreement, it is assumed that in order to cheat or commit fraud jointly, it would require all 10 supervisory nodes to collude with the borrower, the chance of which would be infinitely close to zero. The new version once again makes it significantly more difficult for borrowers to commit fraud and makes the system more secure.

In addition, in order to prepare for the upcoming launch of the financial public chain in year 2023, Fintoch will also introduce the community to participate in a six-month internal test at the end of December this year. By collecting user data and continuously improving our performance, we believe we will be able to promote the DeFi market to flourish again.

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Website: www.fintoch.com