Unlike other tokens, the SALL token is designed with an automatic mechanism that prevents whales from gaining control of it. This is an essential feature that is necessary to create a stable currency. This is a must for any successful project that is looking to grow and increase their value.
Protection Against Automated Takeover
Unlike previous eras, where cybercriminals typically obtained credentials through social engineering or data breaches, today’s hackers have automated the process of stealing accounts. Criminals can then use the stolen accounts to steal personally identifiable information, corporate data, or funds.
While the threat of account takeover is real, businesses can protect themselves against these attacks through the implementation of proactive solutions. For example, companies can implement AI-based detection technology to monitor websites for suspicious behavior. They can also ensure that sensitive data is protected through tokenization. These solutions swap sensitive data for placeholder tokens that are stored outside the company. This reduces the compliance burden of securing sensitive data.
Another effective way to protect against an account takeover is through the use of multifactor authentication. This means that a consumer’s password isn’t enough to access their account. They must also be able to prove their identity. This is usually achieved through the use of SMS or a mobile application, such as Google Authenticator.
These tools aren’t perfect, but they can help businesses protect their systems from a compromised user. For instance, a Florida teenager spoofed a Twitter employee’s phone number, and guided the employee to a phishing page. This allowed the teenager to gain access to the account.
ATO attacks aren’t the only type of cybercrime attack, but they are increasingly common in the digital world. Successful attacks can install malicious software or change account details. They can also lead to identity theft.
Mechanism to Prevent Whaling
Whether you are building a tokenized ecosystem or planning to make your buck, sound tokenomics are a must. There are several innovative approaches that you can incorporate into your project to boost price stability and decrease speculative activity. These measures have been shown to be effective, and you may be surprised by the results.
One of the most impressive is the use of the law of large numbers to distribute tokens, which is not as easy as it sounds. This approach uses an MCMC simulation to determine the best way to distribute tokens amongst its constituents. The end result is an algorithm that is applied to each epoch, with the rewards normally being normalized into fractions.
Another innovative system is the use of programmability to create a “whale proof” system. This system is designed to prevent whales from snatching up tokens in droves, by requiring each purchaser to pay an extra 1% fee on top of the standard sales tax. This makes it harder for speculative whales to buy up large quantities of tokens, and enables a much more diverse group of stakeholders to be represented at the table.
In this context, the most exciting thing about the airdrop aficionado is that it takes into account several factors when allocating the prizes. The biggest benefactor is the aforementioned law of large numbers, which allows it to allocate rewards in the most efficient way possible. This enables a more egalitarian initial token distribution, and a less complex price risk.