What type of security measures has been implemented by the team to ensure user funds remain safe from malicious actors or hackers on the network ?
The Terra team has implemented a number of security measures to ensure user funds remain safe from malicious actors or hackers on the network.
These measures include: 1. Multi-Signature Wallets: All user funds are stored in multi-signature wallets, which require multiple signatures from different users in order to access the funds. This makes it much more difficult for a single malicious actor or hacker to gain access to user funds.
2. Secure Network Protocols: The Terra network utilizes secure protocols such as TLS and SSL to ensure that all data is encrypted and secure while being transmitted over the network. This helps protect user data from being intercepted by malicious actors or hackers.
3. Regular Audits: The Terra team regularly audits their codebase and security protocols to ensure that any potential vulnerabilities are identified and addressed quickly. This helps prevent malicious actors or hackers from exploiting any potential weaknesses in the system.
4. Security Token Offering (STO): The Terra team has also implemented a Security Token Offering (STO) which requires users to go through a rigorous KYC/AML process before they can purchase tokens on the platform. This helps ensure that only legitimate users are able to access the platform and reduces the risk of malicious actors or hackers gaining access to user funds.
