Staying out of murky waters
- Web3 security and compliance news have been making headlines over the last few weeks, and the need for protection is just as important as innovation, if not more.
- 500-backed predictive Web3 risk and intelligence platform Merkle Science is working on making it a safer space for everyone. The team is bringing their compliance product, Compass, to the Stellar network, a leading decentralized blockchain designed for speed, affordability, and utility.
- As Web3 continues to grow, so do ongoing security and compliance challenges — there has been a notable rise in high-profile hacks worth hundreds of millions of dollars. Blacklists alone may not be sufficient to help companies identify suspicious activities.
- Now there’s Compass, a behavior-based transaction monitoring and risk reporting solution which offers next-generation security to developers and operators building on Stellar. Developers and users on the network get an extra layer of assurance against threats like hacks or scams, enabling them to respond better.
- “Merkle Science envisions a world powered by blockchain technology and is creating the infrastructure to enable crypto’s safe and healthy growth,” said Ian Lee, Director of Global Partnerships for Merkle Science. “Our mission aligns perfectly with Stellar’s mission of promoting greater financial inclusion. This integration takes us to the next level of addressing forensic and regulatory challenges within the Web3 ecosystem.”
- Read the full announcement here.