Blockchain technology is built on public key cryptography, making BitBoost Marketplace practically
unhackable – provided you follow a few simple guidelines.
Our app is built on Ethereum which, in common with all blockchains, uses strong encryption to protect users’ funds. Whilst most web services like email will typically require a password of 8-10 characters long, the private keys that give access to a blockchain wallet are generally 256-bits or the equivalent of 64 characters. The complexity of such pass phrases means that they are effectively unhackable by conventional means: the processing power required to brute-force ‘guess’ them means it would take millions of years (and perhaps longer than the lifetime of the universe).
The app is accessed using the private keys to an Ethereum address, so it features comparable security by design. However, a chain is only as strong as its weakest link, and you should always take precautions to keep your keys safe. Store them carefully – ideally encrypted and/or offline, so that if your computer is damaged or a file is corrupted you will be able to recover access to your account.
Aside from this, best practice is vital to keep your computer secure. Be careful what sites you visit and what links you click, since malicious applications can leave harmful software installed on your computer. Regularly run a malware checker to prevent keyloggers from capturing what you type, and install a good antivirus programme.