Friday, December 15, 2023
SpiderWeb ($ARAC) - Quick Fundamentals - Security Features
Hey Spider-Mites,
Today, we will start off with a Quick Fundamental guide on the Security Features of SpiderWeb ($ARAC)! This will be a quick guide to highlight the key points and features within our security features for you to better understand just "How" we intend to protect the information, and "Why" it will be far more secure than the traditional methods used today!
This project was built with the aim to reduce both cost of traditional web hosting and traffic while maximizing focus on providing security as it has become a rampant issue amongst users, both business and personal alike!
Let's Begin!
Spiderweb ($ARAC), is/will be composed of self-built private nodes and public nodes of P2P resources, in essentially 3 tiers, to form a web of decentralized IDC infrastructure:
For heightened security, Spiderweb ($ARAC) has a built in proactive/passive AI which monitors all traffic and also uses the same SHA256 encryption method as Bitcoin nodes, SO incase of failure or intrusion/hacking events, it will automatically relay and/or retrieve information between other nodes, so that data security is guaranteed! (see photos below!)
(SpiderWeb ($ARAC) will also incorporate an eco-friendly and energy-efficient consensus mechanism called "Proof of Use" (PoU), which will be used as a means of reward verification as well!)
(**See the NFT Collection Launch post for more details!**)
Thanks everyone for taking the time to understand our Security features! Once again, for a more detailed explanations of this, please visit our #WhitePaper here: https://discord.gg/TmhneY5SEu !
Hope everyone has a great day and let's weave a brighter future together!
If there was a cyber attack or a attack that shut off all of the internet, satellites and electricity all at once
what would that mean for bitcoin does it survive and if so what is its reaction to a event like that hypothetically of course
What a bank’s business model might look like if Bitcoin is the world’s reserve currency.
Proposing a progressive banking model, envision a financial institution that seamlessly combines traditional services with the unique features of cryptocurrencies, particularly Bitcoin. The core tenets include offering transparent custodial services, backed by visible reserves, and extending the bank's reach into the realm of cryptocurrency mining. By employing a mining company as a continuous source of Bitcoin inflow, the bank aims to facilitate efficient lending to businesses, akin to conventional banking practices.
In this model, businesses borrow Bitcoin, and the market determines fair lending interest rates, with the bank charging a premium to borrowers. The bank ensures a balance of wins and losses by judiciously managing its lending portfolio. In the event of default, Bitcoin lent to a failed business is replenished through the mining operation.
Crucially, the bank commits to guaranteeing returns, provided it refrains from lending more than its existing mining reserve. Transparency is paramount, with customers able to verify reserves easily through the decentralized ledger. This innovative approach seeks to compel customers to choose this bank, bridging the worlds of traditional banking and decentralized finance.