Wednesday, 25 July 2018

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Latest news on cryptocurrency market: Monero to reduce security risks - ICO Alert

Monero web wallet to fix flaws unveiled in audit to enhance security 

New Alchemy, a blockchain strategy and technology group, reviewed XMRWallet’s infrastructure in June 2018, during which web traffic and user interface of the application were inspected with an objective to discover security flaws that can have a negative impact on the app’s trustworthiness.

According to New Alchemy’s report, the XMRWallet application provides a high-quality user experience, an advanced development approach and a clear separation of client and server functionality. But, when it comes to security, a number of potential vulnerabilities were uncovered. Although some of these issues were minor and others were critical, the assessment concluded that all of the issues were fixed.

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Following re-testing, New Alchemy said that all seven critical issues had been fixed. All moderate issues were also addressed, expert one which was later re-classified as a general concern rather than a security issue. In addition to this, three minor issues were also taken care of.

According to the latest news on cryptocurrency market, New Alchemy’s report concluded that the XMRWallet application provides an intuitive user interface. All of the aspects of the application were employed, such as value transfers to and from multiple counter-parties. The code development and organization process made it easier to comprehend how the components have been fit together. Minimal external data dependencies, minimal endpoints and minimal unrelated web traffic are the strength of the application.

New features uncovered

The audit was performed as XMRWallet started to introduce a set of new features such as the ability to set the USD pride for sending Monero, matched in XMR automatically. Apart from this, enhancements have been made to the confirmation window, which is seen by the users prior to completion of a transaction and transfer of money.

Nathalie Roy, the founder of XMRWallet, was inspired to launch the platform after she used MyMonero and found out that there were various features that could be improved further. She believed that XMRWallet could support decentralization and provide a backup plan in an event of unavailability of other web wallets.

As per the latest blockchain news , XMRWallet allows quick account creation and the platform supports 10 languages presently. The platform also provides fast transaction times, allowing the users to send and receive Monero right away.

XMRWallet is an open-source web environment for Monero wallets. The platform is completely free for users and relies on donations to provide continuous service.


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