Tidal is a platform that provides the ability to create custom insurance pools for protocols. The platform is stepping forward in the direction of improving its security on its networks. Tidal has suffered from hacking attacks in the past which have resulted in the loss of data. The platform is looking to use Litentry to make its network much more secure to prevent hackers from pulling users’ private information.
Litentry is itself a cross-chain compatible decentralized identity aggregator that helps user identities to connect with different decentralized networks. Litentry goal is to accomplish this task, meanwhile also making sure that the user’s privacy and data integrity is secured. This is made possible by the use of identity aggregation.
Additional Benefits of working with Litentry
The partnership with Tidal will help Litentry enable a smooth and secure flow of data across multiple services, leading to a much improved and safe working environment for decentralized finance. The partnership also has other benefits. Using Litentry’s API and modeling, tidal can have access to useful information of insurance buyer activity, which will then help them to analyze and understand the behavioral patterns of insurance buyers and their risk profiles to make smart decisions. Risk profiles can be used to push forward premium offerings according to different user bases.
With the complex algorithms in motion, it will help in the prevention of fake submissions and make the reconciliation process with accredited accounts more stable and secured. Tidal will be able to use the additional information to come up with new operations, giving them many benefits and increasing the platform’s efficiency, meanwhile also ensuring the protection of the user’s data and privacy, giving users the satisfaction and relief they need to work on the platform.
Proper User Identification is a very important factor in running decentralized services. The servers always require proper identification data, so it is important to make sure it is correct, secure, and ready for the servers to use. Proper securing of data means that Tidal can improve its interoperable services better, more useful, and fully secured, resulting in a safer user experience without any worries about data leaks and identify theft.