Stegos provides an absolutely private and secure foundation for building decentralized mobile apps

Why and for whom are we needed?

The main problem, because of which it makes sense to use the services of various VPNs and data encryption services, is the unreliability and ease of access to the user’s personal information.

If you think that nobody needs you, then you are mistaken. Most people do not attach importance to the protection of personal data. And when someone takes possession of your personal information, it is not difficult to guess what you are risking. Access to accounts of various services, bank card information, photos of you and your loved ones and more. And all this you provide to the attacker.

Types of threats

“The man in the middle”

The name, in fact, perfectly reflects the essence — between your browser and the site is an attacker who wants to make money. This villain may turn out to be the system administrator of your Internet provider, a neighbor on the veranda who hacked equipment in the attic, an employee of the IT of hotel you are in, or even your mobile operator.

“Evil Twin”

When someone raises a WiFi point with the same name that is already on your phone, for example: McDonalds or Free. After which your phone automatically connects to this network, and traffic passes through the attacker’s equipment. The search for WiFi networks is designed in such a way that the devices connect to the access point with the strongest signal, so if you go to the subway where there is a free access point and there will be a person next to you with a phone with open WI-FI, then your phone will connect to the villain’s phone.

These are just a few of the many examples. All these types of exploitation are designed so that you do not notice them for weeks and months, continue to work and bring profit to other people, sometimes at a loss to yourself. Sometimes attackers get to the point that they clean your computer of other people’s viruses, leaving only their own, so that your computer slows down less and does not cause suspicion. Therefore, do not think that hacking you is not beneficial to anyone. You are much easier to crack than any bank, and if an attacker does this with a large number of people, then the income will be large and the risk is minimal.

What is STEGOS?

The Stegos Privacy Platform (Stegos) combines a unique blockchain and token design to implement the first cryptocurrency that’s completely private, secure, reducible, and environmentally sustainable. Stegos is fully scalable and prunable, ensuring the chain always remains compact without compromising trust. This makes Stegos the world’s first public blockchain to offer secure and confidential data storage and transmission in addition to payment transactions.

The main advantages of this platform:

  • confidentiality
  • scalability
  • untraceable
  • small and fast
  • mobile mining

A private decentralized solution based on blockchain is a far better way to keep your private information safe and share it with people you trust. That is why the Stegos project is a very good solution that will allow you to maintain your privacy.

The main difference between Stegos and other projects is the use of consensus gPOS. Gamified Proof-of-stake (gPoS) consensus Standard Proof-of-stake consensus can leave many users with smaller stakes unincentivized. To address this, Stegos employs gamified Proof-of-stake (gPoS), so-called because every validator which has been running for a certain amount of time has the chance to receive a random Validator service award, regardless of the size of their stake1 . To fund this, a portion of the reward from each block is added to the service award pool, which continues to grow until a winner is selected in an ongoing cryptographic lottery based on verifiable distributed randomness. Because smartphone nodes can have full validation capabilities, anyone can earn tokens from their pocket.

The implementation of gPOS consensus shows that developers have shown great loyalty to all users. This is a very thoughtful step to popularize this platform. It’s nice that every user can get a reward for staking even a small number of tokens.

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Perhaps I repeat, but among the huge number of twin projects, it is nice to see a truly original project that combines both the fundamental functions of VPN services and the innovation of blockchain technology. I consider the implementation of gPOS – one of the main features of this project. I think this project has a great future.

Be careful and keep your privacy.

STEGOS PRIVACY PLATFORM was originally published in Data Driven Investor on Medium, where people are continuing the conversation by highlighting and responding to this story.