HyperSphere Aims to Become the Largest Decentralized Cloud Solution Used in FinTech and IoT areas by 2023

Evgen Verzun, Founder of HyperSphere, believes the platform will significantly reduce the instances of cybercrime over coming years.

November 4, 2019 /MarketersMedia/ —

Despite being hailed ‘unhackable’ and the most secure technology known to modern society, blockchain and its related cryptocurrency ecosystem is, it seems, becoming increasingly prone to cybersecurity attacks. In recent months more and more security leaks have hurt those using cryptocurrency and smart contract platforms, despite the very fact they are premised on completely secure transactions. To date, millions of dollars have been taken from crypto space users, indicating that the relatively new security infrastructure of the crypto world already needs updating, in the form of some kind of cybersecurity disruption. Meanwhile cyberattacks on online transactions, credit card purchases, electronic banking, and personal identity theft continue unabated. All told, cybercrime has grown into the world’s most profitable, undetectable, and unpushable form of economic criminality in history. An new alternative to the Internet is urgently needed.

A highly advanced cyber-secure ‘privacy’ network for global e-commerce, real-time communication, and cloud computing, the HyperSphere, is the cyber secure, decentralised cloud that allows companies to create secure apps on its platform and securely share data. Using a new communication protocol with military-grade hypersecurity– the Secure Dynamic Network & Protocol (SDNP) - HyperSphere repels packet hijacking, man-in-the-middle attacks, and metadata surveillance of network traffic, problems that are increasingly costing companies that use the cyberspace to log transactions and share data globally.

According to IBM Security, the average data breach costs a company $3.9 million. In California alone, there were 1,493 reported data breaches that compromised a total of 5.59 billion files between 2008 and 2019. HypeSphere was born of the desire to prevent such attacks, using a fully decentralized autonomous real-time cybersecure privacy network with enterprise-grade certificate authority (user identity), privacy protections (including pseudonymity), and energy-efficient network-native dual cryptocurrency for global e-commerce. With innovations in privacy protection and transactional integrity such as replicant blockchain observer segments (RBOS), the HyperSphere is able to mitigate double spending, prevent fraud, and repel attacks while prohibiting backtracking and privacy leakage.

However unlike the blockchain technology used by conventional cryptocurrency (such as Bitcoin for example) which depends on a single public global ‘communal’ blockchain shared over the Internet using TCP/IP and which has become slow, cumbersome and vulnerable to cyberattack, the HyperSphere has invented, developed, and adopted even newer and emerging technologies to eliminate these security threats.

Evgen Verzun, Founder of HyperSphere, believes the platform will significantly reduce the instances of cybercrime over coming years, and help businesses reallocate the costs they spend today on preventing data leakage into more lucrative activities.

“Our team anticipates that by 2023, HyperSphere will be used in a great number of IoT and FinTech use cases all over the world. We hope that our cybersecurity technologies will impact digital economy growth by offering businesses secure communications, secure digital storage, which will enable digital trust ecosystem where businesses will be able to launch their own applications, without a fear of losing valuable data or digital resources,” Evgen said.

Privacy, transactional integrity and blockchain security are protected within the platform by numerous mechanisms that - unlike classic blockchain - limit access to a blockchain to a need-to-know basis. All HyperSphere transactions are recorded on the individual (non-public) blockchains called dynamic directed acyclic graphs (DyDAGs) with ownership established through a private identity-trust-chain linked to a user's identity and root CA-certificates. The DyDAG blockchain, together with a patented cyber-secure communication protocol SDNP, and HyperID identity, are each designed to prevent data breaches in the fintech and crypto space as well as other areas.

HyperSphere technology is not only dedicated to enable more secure financial transactions and prevent financial fraud online. HyperSphere users benefit from an all-in-one digital space, secured by SDNP protocol delivering a range of tasks, including facilitating data management; protecting digital assets in unhackable storage; ensuring privacy in compliance with GDPR, HIPAA, FINRA, SOX, etc. The platform also enables users to rent idle computer resources, as necessary. To assist new customers, the HyperSphere includes user support via the HyperSphere Development Corporation offering ways to build secure and privacy compliant apps and services within the platform. Beyond this, merchants and service providers in the HyperSphere are able to access vast global resources at lower prices of a competitive marketplace to securely and privately conduct e-commerce including cloud communication, cloud computing, disaggregated cloud storage, cloud connected (IoT, V2X) devices, and e-services including blockchain-as-a-service (BaaS).

Contact Info:
Name: HyperSphere
Email: Send Email
Organization: HyperSphere
Address: NYC, New York USA
Phone: +1 571-349-0814
Website: https://hypersphere.ai/en

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Source: MarketersMedia

Release ID: 88932466