Wallet Guardian is a new tool designed by GBC.ai to improve Web3 security. Artificial intelligence (AI) is set to play a role in harnessing the power of blockchain technology to organize, manage and develop the advanced features of digital assets in the future. Blockchain as a mechanism for storing and sharing data coupled with the ability of AI to mine that data makes blockchain and AI a technical marriage worth exploring. As the adoption of cryptography increases, so does the risk of data manipulation and mismanagement.
Our personal data is more accessible than ever. On-chain data storage is a popular way of keeping records, and when new users are first setting up their wallets, the Wallet Guardian can play a vital role when interacting with digital assets. AI can be trained to predict data authenticity and transaction patterns and identify any potential hacks that could reduce end-user protection.
Minimize the risks associated with the use of cryptographic bridges
Bridges are all the rage in the crypto world these days with more and more users interacting with dApps across a wide range of blockchain protocols. There are two types of bridges: trusted bridges and non-trusted bridges. As we move towards a more decentralized future, more attention will be paid to trustless bridges that use smart contracts and algorithms that do not require a centralized party for transactions. This increased interest and use of bridges is testing the levels of security offered on all blockchains. So how can we improve or ensure that the data we send between bridges is more securely protected?
Risks associated with bridges – The biggest crypto hacks originate from bridges. As it is a new technology, it is vulnerable and susceptible to infiltration by bad actors. As technology evolves over time, so do security features. In the meantime, users should remain vigilant and understand the individual risks when using bridges to engage with cryptocurrencies.
Work with Web3 security products to enhance protection
GBC.AI has announced Wallet Guardian, a brand new Web3 security product that integrates artificial intelligence into blockchain technology to improve security features and optimize distributed ledger technology. GBC.AI wants blockchains to become dynamic and, more importantly, self-aware. This is accomplished by detecting protocol issues and ensuring vulnerabilities are preactively addressed before they become problems, keeping blockchains efficient and secure.
“To date, auditing and monitoring services for Web3 environments have been the preserve of those willing (and able) to pay high fees,” commented Pavel Entin, CEO of GBC.AI. “It runs counter to the ideals of individual empowerment and inclusivity that drive many blockchain innovations, as users still lack the tools that help them research and protect their wallets. There is increasing transparency and awareness of how our data is collected and used when visiting websites2. Ironically, this is an area where Web3 environments have started to fall behind.
“Protection and active intelligence in the form of Wallet Guardian will help fix all of this and put the power of AI to work. We want to use this tool to empower users to take charge of the permissions they’ve granted, identify risks before they cause trouble, and understand the information they’ve revealed, ultimately ensuring they don’t compromise their portfolio. this Wallet Guardian to add it to our suite of products designed to harness the power of AI and blockchain,” Entin added.
Designed to protect users of digital assets against the growing number of threats to their wallets, Wallet Guardian combines advanced AI and blockchain technology to offer three tools: “X-ray”, “Real-Time Protection and “Bridge Guardian”. , which can be quickly deployed to wallet and browser environments to provide unparalleled visibility, protection, and control.
The first tool launched in Wallet Guardian is “X-ray”. Before a user approves any smart contract interaction in their wallet, Wallet Guardian’s x-ray feature will display a list of all permissions and disclosures requested by the new smart contract transaction. The tool will also allow users to browse and review any pending permissions their wallet has granted to other smart contracts. It also allows them to opt out of any of these old permissions and mitigate potential risks, ultimately giving users greater oversight and control over their various smart contracts.
Wallet Guardian’s technology is based on the enterprise-grade innovations of GBC.AI. This new consumer-centric product is part of GBC.AI’s mission to be a leader in AI-powered blockchain technology.