Enhancing Entrepreneurial Security in Cryptocurrency Wallets Using Cloud Technology
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Cryptocurrency Wallets, Cloud-based Security, Blockchain Technology, Cost Mitigation
Abstract
The increasing adoption of cryptocurrency has underscored the critical need for robust security measures to protect digital assets stored in cryptocurrency wallets. Traditional security approaches have often proven inadequate in addressing the rapidly evolving threats in the digital landscape. In response, cloud-based security solutions have emerged as a promising method to enhance wallet protection, leveraging scalability, flexibility, and advanced security features. This study investigates the security challenges faced by cryptocurrency wallets and explores the potential of cloud-based solutions, focusing on multi-factor authentication, encryption protocols, real-time monitoring, and secure backup and recovery. The research assesses the effectiveness of these solutions in mitigating risks such as unauthorized access, data breaches, and digital asset theft. Findings reveal that cloud-based security solutions significantly improve protection by offering scalable, adaptable frameworks. However, challenges remain, including privacy concerns, regulatory compliance, and the cost of implementation. The research introduces a cost-efficient approach that integrates cloud-based technologies to optimize the total cost of ownership while maintaining robust security. This study also discusses the regulatory and privacy implications of cloud security in cryptocurrency ecosystems. In conclusion, this research provides novel insights into the integration of cloud-based security solutions, offering a comprehensive framework for safeguarding digital assets in cryptocurrency wallets. It contributes to the growing body of knowledge on the feasibility and impact of cloud technologies in enhancing the security of cryptocurrency systems.
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