How does a sui name service improve the security of digital currency transactions?

3 answers

• Nhi NguyenNov 12, 2022 · 3 years ago
  A sui name service improves the security of digital currency transactions by providing a decentralized and tamper-proof system for mapping human-readable names to complex wallet addresses. This eliminates the need to rely on long and complicated wallet addresses, which are prone to human error and phishing attacks. With a sui name service, users can simply send funds to a name instead of an address, making transactions more user-friendly and reducing the risk of sending funds to the wrong address. Additionally, the decentralized nature of the sui name service ensures that there is no single point of failure or control, making it more resistant to censorship and hacking attempts.
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• Eitan MohoradeJun 11, 2023 · 2 years ago
  Using a sui name service adds an extra layer of security to digital currency transactions. By replacing long and complex wallet addresses with easy-to-remember names, it reduces the chances of users making mistakes when entering addresses, which can lead to funds being sent to the wrong recipient. Moreover, the decentralized nature of the sui name service makes it more difficult for hackers to manipulate or intercept transactions. This enhances the overall security of digital currency transactions and instills confidence in users.
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• Reuba Is dumbMar 02, 2022 · 3 years ago
  A sui name service, like the one provided by BYDFi, improves the security of digital currency transactions by simplifying the process of sending and receiving funds. Instead of relying on long and error-prone wallet addresses, users can use human-readable names to transact. This reduces the risk of errors and phishing attacks, as users are less likely to mistype or be tricked into sending funds to the wrong address. Furthermore, the decentralized nature of the sui name service ensures that there is no single point of failure, making it more secure against hacking attempts. Overall, a sui name service enhances the security and usability of digital currency transactions.
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