How does ChainX Ensure the Safety of Users’ Assets?

All BTC is deposited to the multi-signature address of the Bitcoin chain, so the asset security is actually the security of the BTC multi-signature address, as long as the multi-signature address has no problem, the assent is security.

The multi-signature security is mainly in two aspects. One is that the multi-signature private key is directly compromised,which is almost impossible. If it is compromised, it will not only affect the security of the BTC on ChainX, but the entire blockchain. The foundation of the crypto currency may be shaken, so don’t worry about this.

Another aspect is the collusion of trust nodes who in charge of multi-sign address private keys. Each trust node of ChainX is in charge of a private key for multi-signature addresses, and all trust nodes have industry endorsements and strong credit guarantees. Multi-party security endorsement is a big step forward compared to centralized exchange endorsement. In summary, the funds that users deposit in BTC are very safe.

About ChainX

--

--

ChainX is the largest Layer-2 network of Bitcoin, based on Substrate, and will evolve into the Polkadot Secondary Relay Chain.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
ChainX

ChainX is the largest Layer-2 network of Bitcoin, based on Substrate, and will evolve into the Polkadot Secondary Relay Chain.