The crypto realm is still largely unregulated by traditional institutions (governments, laws, and so on), and thus draws a large number of hackers who seek to profit from any platform flaws.For token creators, Lossless is a hack mitigation tool.Its technology pauses fraudulent transactions and refunds stolen funds to the account owner based on a set of fraud detection parameters.
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At its foundation, the Lossless protocol is a piece of code that token makers embed into their tokens. This code allows Lossless to freeze any fraudulent transaction based on a set of fraud detection factors.Lossless is dedicated to making crypto investing accessible and safe as a team of seasoned technologists, finance professionals, DeFi experts, and white-hat hackers. Lossless is working together to create a new protocol for dependable DeFi investment and development to promote the expansion of blockchain technologies. It wants to offer a platform where everyone can use their money swiftly and safely. They hope to encourage the adoption of DeFi marketplaces by creating a safer environment for everyone.
Lossless, unlike many other efforts, focuses on exploit mitigation rather than prevention. Lossless adds a bit of code to any token it manages, and it freezes them when suspicious transactions occur.
After fraud verification, the suspicious/fraudulent transaction is frozen based on a set of fraud identification parameters, and stolen money is restored to the owner’s account. Furthermore, these suspicious/fraudulent transactions are discovered either automatically or with the assistance of community members (flaggers) who uncover hostile activity. Additionally, if flaggers are correct, they are compensated.
Vygandas Masilionis is the CEO at Lossless. Technology lead, Domantas Pelaitis, business development team lead, Dominykas van Otterlo and Marketing Lead, Monika Svidersk? are the geniuses working behind lossless. The Lossless crew has made protocols that implement a cutting-edge cybersecurity system to protect investors’ funds. It created LSS tokens as an intrinsic element of the ecosystem to have a substantial impact on the DeFi industry and to achieve even better results by participating in key decisions.
Lossless has a number of features that makes this platform unique and trustworthy. One of the main features is urgent freezing.Hack-spotting bots can use the Lossless API to detect and freeze fraudulent transactions, resulting in rewards for the bot’s creator. It also investigates fraud.The Lossless committee examines frozen transactions, verifies fraud, and decides whether or not to permanently freeze the receiving address.It also reverses stolen funds. The committee passes a transaction reversal proposal, and the code returns stolen monies to the owner’s address.
If you’re wondering where to purchase LSS Token, the main cryptocurrency exchanges for buying LSS Token stock right now are KuCoin, Gate.io, PancakeSwap (V2), BKEX, and Hoo.
No. There is no direct method to purchase LSS Network using cash. You can, however, utilise markets such as LocalBitcoins to first acquire BTC, and then complete the remainder of the procedures by moving your BTC to the appropriate AltCoin exchangers.
Yes, in reality, Europe is one of the easiest countries to acquire cryptocurrency in general. There are also online banks where you can create an account and send funds to exchanges like Coinbase and Uphold.
Exchange inflows and outflows, technical and fundamental changes, the news cycle, and the overall economic climate are all variables that impact LSS’ price and market cap.
Lossless Official Website – https://lossless.cash/
Lossless Twitter – https://twitter.com/losslessdefi
Lossless Medium– https://losslesscash.medium.com/
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