Blockchain News, Business

Using DEX ‘Decentralized Exchange’ On Mobile devices – Is It Safe?

Using a DEX or decentralized exchange, on a mobile devices doesn’t necessarily bring higher chances of hacking risk, consistent with Kadan Stadelmann, CTO of blockchain platform Komodo.

Explaining further, he added:

“I don’t think that the associated risks to a mobile DEX is necessarily above that of a DEX accessed via another medium,” Stadelmann said. “The risk would vary counting on the user’s device, OS [operating system], version, etc.”

AtomicDEX Security Features

Constructed on Komodo’s network, AtomicDEX is be a decentralized exchange employing , in contrast to other DEXs that only host tokens supporting one chain. The DEX on Komodo facilitates P2P, trades across blockchains, called atomic swaps.

AtomicDEX gears itself toward the mobile user base. As Stadelmann claimed, mobile-based DEX usage doesn’t necessarily mean lessened security.

Online Criminality Increased By Over 75%

Security loop holes still occur on mobile devices, however. While, visiting certain websites might increase users’ odds of suffering a hack, Stadelmann added, mentioning underground gambling websites as an example.

“Basically, user behaviour might be a significant determining factor when it involves risk,” he explained. “Moreover, there’s the question of whether or not the DEX technology used is genuinely solid and secure,” he added. “In this case, it’s less about the particular physical device and more about the software and users’ environmental circumstances.”

However, a big topic of discussion, hacks and data leaks are on the hike since COVID-19 took over in March. Hackers have already stolen thousands of users’ Zoom data. The FBI also noted online criminality increased by over 75% after the coronavirus outbreak started.

Leave a Comment

Your email address will not be published.