We understand that security is the biggest concern of any decentralized platform. What we do to make sure our platform is secure includes:
- Audit our smart contracts regularly before major deployments.
- Reserve our platform tokens to reward developers who found bugs in the platform.
- Build a monitoring system to track any suspicious activity on the platform.
- Incorporate emergency locks in our smart contracts to make sure the fund of the platform is secured in critical situations.
In the video below, Mr. Will Truong - CTO & Co-Founder of bePAY will explain in detail about the security method of the bePAY platform:
How can bePAY guarantee contract security? | Global AMA bePAY 2021
- A good monitor system is needed.
- A Machine Learning Data Model must be applied to the system
3. What are the common token scams that investors should avoid?
Here are 03 common token scams that investors should avoid:
- Hackers use fake platforms to trick users into interacting or transferring money
- Forge governance token
- Fake decentralized app
To avoid scams, users should:
- Do your own research before making any transactions.
- Store tokens in a cold wallet
4. How to secure an NFT account?
NFT is growing explosively around the world with million dollar works such as Everyday: The First 5000 Days ($69.3 million), CryptoPunks, Bored Ape Yacht Club (BAYC) or CEO Jack Dorsey's first tweet ($2.9 million). With the outstanding growth in both revenue and number of users, the NFT platform will certainly be an object for hackers to target.
Here are some recommends for users to secure their NFT account:
- Users need to keep their private keys carefully.
- Read and study the NFT platform thoroughly.
- Be careful in setting product prices.
- Do not click on unfamiliar, uncertain links.
- Use the power of community to consult and confirm information
We audit internally by our partners, and we are also working with other 3rd parties to get the Global audit in near future.
We have partnered with:
- bePay Foundation, that runs the network of users.
- Beenext Ventures, (https://www.beenext.com/) that manages Assets nearly $1 billion. They already invested in more than 200 companies and some of their portfolio already are the unicorn like Tokopedia in Indonesia.
As mentioned above, we employ a monitoring system to automatically track & alert activities on bePay Platform. We also implemented an emergency lock mechanism in our smart contracts to ensure the fund of the platform is safe if the platform is underexploited.
With bePOS, our team has 4 years of experience in the development & operating of a POS system handling millions of transactions where it must be accessible 24/7, online and offline. So we bring this expertise to the bePAY platform, to ensure the stability & safety of the bePAY platform.