The Managing Director of Kucoin, Alicia Kao, has echoed the need to upgrade security measures in the digital asset space.
She said the upgrade should include the effectiveness of a Rapid Response to solve security breaches which will withhold user trust in the digital assets space.
Kao made this remark, following ‘The Global Blockchain Show’s’ announcement about her forthcoming presence at a blockchain event, featuring over 3,000 Web3 Founders and developers, more than 100 speakers and over 100 investors for a two-day festival at the Grand Hyatt Exhibition Centre in Dubai.
The event is said to take place on the 12th and 13th of December, 2024.
Comparing the differences between the security measures of major centralized exchanges and decentralized finance, Kao remarked that the centralized exchanges have been more proactive in regulating their security system as the cryptocurrency space uses advanced, multilayered security protocols and collaborate with cybersecurity firms to strengthen their defenses, unlike decentralized cryptocurrency space which does not use standard defense medium.
She further advised crypto firms to make valid efforts to ensure that institutional and retail users trade with confidence.
In a related development, report has it that the price of bitcoin in the cryptocurrency market on Tuesday hovered around $93,000 which is a decrease from last week’s expectation of reaching $100,000.
The decrease was associated with the sale of relatively new buyers who got in above $56,000.
Analysts say the decrease can be ascribed to the growing institutionalised adoption while noting the impact of the just concluded U.S. elections in the crypto market.
