In an important announcement, Uppsala Security has announced that wallet addresses of Litecoin (LTC) and TRON (TRX) will be supported by its Crypto Analysis Transaction Visualization (CATV) tool and Crypto Analysis Risk Assessment (CARA) tool. This will add a lot of value to LTC and TRX, as users can use these tools to assess the risk score of tokens associated with these wallets.
Crypto Analysis Transaction Visualization (CATV)
CATV helps generate the tokens’ visual display both in terms of the incoming flow and outgoing flow. Besides, a user can also keep an eye on the type of wallet it interacts with and easily figure out any suspicious transaction that might manifest in the form of interaction with some blacklisted wallet address. The data generated can be further categorized and analyzed to assess whether regulatory and anti-money laundering compliances are met. Some of the CATV’s key features include easy scalability, high safety, security credentials, and seamless user experience, among others.
Crypto Analysis Risk Assessment (CARA)
Using the machine learning algorithm, this tool helps identify the wallet’s behavior and tell it apart from a suspicious wallet, thereby generating a risk score associated with the particular crypto address. The service is available on-demand, and the best part is that the tool can be easily integrated into the software application. Besides, you can have the subscription of this tool from Uppsala Security on an annual basis.
CARA is useful in protection against hacking attempts, money laundering, terrorist funding, and other allied processes related to anti-social elements and activities. The tool works in compliance with various standards set by the risk-based approach based on the Financial Action Task Force’s (FATF) recommendation.
Conclusion
The inclusion of both these tools by LTC and TRX is a positive step in ensuring the investors’ safety and security. Not only users will be benefited from the in-depth analysis, but they will also be protected against any malicious activity. In sum, the incorporation of both these tools will definitely make the cryptocurrency and blockchain technology sphere safer than before.
