Tezos Israel has recently announced that they have collaborated with Hub Security, which is a cybersecurity firm. Through this collaboration, there will be the development of a physical security module which will ultimately help to protect the encryption keys of the validators of the Tezos network.
Both Tezos Israel and Hub Security have introduced a new security feature that will help to secure the encryption keys. Eli Terdjman, CEO of the Israeli branch of Tezos, has said that Tezos Network does not consume electricity as it is based on proof of stake.
Tezos Israel Partners Hub Security Due to Growing Blockchain Attacks
It is revealed that both Tezos Israel and Hub Security took this step with the growing concern of blockchain attacks. Both the firms are hoping that through this, they will be able to prevent any kind of theft or abuse of these encryption keys. Terdjman stated:
“Today, the collaboration between Tezos Israel and Hub Security allows us to distance the keys a step further from the computers running the network and place them in a secure environment while allowing the network to keep running flawlessly.”
The hardware security module (HSM), that has been developed by Hub Security will be utilised by Tezos Israel. HSM is meant to provide both the physical as well as the network security features.
Encryption Keys Accessible With Unique Device
Eyal Moshe, Chief of Hub Security, has mentioned that the Tezos network deals with a huge number of crypto transfers which is more than $200 million in a single day. He believes that as the firm deals in such a huge number of assets, improvised solutions are not of their use. It is revealed that encryption keys will be accessible with a unique device only which will provide that extra level of security to the network. These keys will be exposed to the network only when it is necessary otherwise no one will be able to access the keys.