Two firms operating at the intersection of blockchain technology and cybersecurity have announced a strategic alliance. Rivetz, a developer of security-focused software solutions, is joining forces wi
Two firms operating at the intersection of blockchain technology and cybersecurity have announced a strategic alliance. Rivetz, a developer of security-focused software solutions, is joining forces with Sentinel Protocol, which leverages blockchain technology to gather and analyze threat intelligence from the broader digital security community.
The partnership will see Sentinel Protocol's threat intelligence capabilities integrated into Rivetz's network architecture, functioning as a data oracle. This move aims to enhance the security frameworks users can deploy through Rivetz while creating complementary benefits for both organizations' respective blockchain-based security offerings.
Rivetz operates a suite of applications and tools underpinned by the RvT token, an ERC20-compliant cryptocurrency facilitating peer-to-peer transactions for security service delivery and licensing. The company's primary focus centers on protecting digital asset holders. Three flagship offerings illustrate the company's approach: Chadder provides encrypted communications with optional Rivetz Network integration; Authenticator leverages hardware-based verification for two-factor authentication; and Confirm enables applications to send tamper-resistant notifications requiring user confirmation.
Rivetz founder Steven Sprague commented on the tie-up, noting that "Digital currencies increasingly represent valuable targets for malicious actors. Our collaboration with Sentinel Protocol reflects a shared commitment to strengthening defenses in this space. By combining our respective capabilities, we can deliver cutting-edge blockchain solutions while making it simpler for customers to safeguard their digital holdings and confidential data."
Sentinel Protocol represents a fraud-prevention initiative built atop blockchain infrastructure, operating under the auspices of Singapore-based Uppsala Foundation. The platform harnesses crowd-contributed intelligence regarding fraud, theft, and compromise attempts, aggregating information from cryptocurrency trading venues, digital wallets, payment processors, and established cybersecurity professionals. The organization distributes its UPPward tool as browser extensions for Chrome and Firefox, enabling users to cross-reference wallet addresses, online identities, and URLs against known malicious entities.
The startup achieved an US$8 million raise during its May 2018 token offering. The explosion in Bitcoin adoption, coupled with the proliferation of thousands of alternative tokens, has attracted criminal interest to cryptocurrency networks. Notably, stolen cryptocurrency surged to US$927 million across the first three-quarters of 2018—a near-250 percent increase versus the prior year—as analyzed by CipherTrace, a San Francisco-based security firm whose assessment became public in October 2018.
