How will Artificial Intelligence Affect the Development of Cryptocurrency Projects? May 25, 2023 The past year was tough for crypto markets thanks to events like the Terra Luna meltdown, the FTX bankruptcy, and more. The industry also incurred losses of almost US$4 billion in 2022 due to various hacking, fraud, and scam-related incidents.Some of the major cybersecurity risks associated with cryptocurrency include phishing and malware, among others. Phishing is a type of cryptocurrency scam that involves tricking victims into giving up their private keys or personal information. The attacker typically disguises themselves as a legitimate entity or person to gain a victim’s trust. Once scammed, the attacker then uses the victim’s details to steal their cryptocurrency funds. Crypto-related malware leverages a victim’s device to continuously and inconspicuously mine for cryptocurrency. An inconspicuous threat, this type of malware masquerades as legitimate software that, once downloaded, embeds malicious code into various applications and programs. The code then runs in the background and mines for currency when a victim is using their device.As crypto related cyberattacks continue to grow in volume and complexity, security professionals are feverishly building security solutions to help combat them. And as this niche within the security market advances, we will come to find that the strongest players will be AI-powered solutions. Why? As AI consumes data artifacts it becomes smarter, enabling it to analyze relationships between threats in seconds (whereas it could take a human days, if not weeks). As a result, AI reduces time to knowledge, empowering faster decision making and remediation of threats.That said, as the crypto market continues to evolve, so are the technologies being built to protect it. In the meantime, individuals and organizations need ways to protect themselves and their investments now. That’s where AI-driven security solutions at the firmware level comes in. This is the ultimate security measure for protection, as it sits as close as possible to a user’s data – protecting against threats like phishing scams, malware, and much more, in real-time, becoming smarter with every threat, and each stroke of a key. Security at the firmware level acts as a final line of defense in this ever evolving and extremely uncertain crypto threat landscape.Read the full article here: https://e-cryptonews.com/artificial-intelligence-development-cryptocurrency-projects/#Camellia_Chan_CEO_of_X-PHY_a_Flexxon_brand TAGS Industry News Media Coverage Share This On Your Favorite Social Media!