We live in an era in which digitalisation is transforming every aspect of our daily and professional lives. Every day, new tools emerge that seek to make our transactions more agile and secure, without the red tape and additional costs. Therefore, smart contracts have gained prominence as a solution for making contracts automatically, securely and transparently, taking advantage of blockchain technology.
Thanks to these smart contracts, companies and individuals can make agreements that are automatically executed when certain conditions are met, saving time and providing peace of mind. However, as with any digital tool, security is essential. As financial transactions and sensitive data are involved, protecting these contracts is essential to prevent any kind of manipulation or vulnerability.
What are Smart Contracts?
Smart contracts are digital agreements programmed to execute automatically when certain conditions set by the parties involved are met. They operate on digital networks called blockchains, which allow these contracts to be stored securely and cannot be altered or manipulated. This provides a great deal of confidence, as the contract is activated independently and without human intervention, ensuring that the terms are met precisely.
Designed to operate without intermediaries, Smart Contracts eliminate the need for third party action and allow agreements to be fulfilled directly between members. The blockchain technology on which they are based makes the process secure, simple and accessible to those involved in the contract.
How do I protect my blockchain transactions?
Securing these transactions becomes very important to avoid potential vulnerabilities that could affect the security of digital agreements. Using recognised and secure blockchain networks helps to keep Smart Contracts in trusted environments and to reduce vulnerabilities to cyber-attacks. It is also advisable to follow secure development practices, such as limiting access to sensitive information within the contract itself and keeping system updates up to date.
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Protect your transactions with TU Latch
Latch is an authorisation control platform that adds an extra layer of security to your digital accounts and profiles in a simple and fast way. This service can be implemented in Smart Contracts transactions to make them more secure.
The authorisation controls offered by Latch are closed or opened depending on the user’s decision in real time. So, as long as this control is closed, the contract cannot be executed. It allows full control over access to decentralised digital services, unwanted transaction executions, unauthorised access and other security risks arising from the Web3 world.
The Latch SDK offers a robust two-factor authorisation solution specifically designed for decentralised applications (dapps). This SDK allows dapps to integrate advanced authorisation logics into fungible (FT) and non-fungible (NFT) tokens, providing an additional level of security through Smart Contracts. By implementing the Latch SDK, developers offer their end users the possibility to have authorisation control over the issued tokens, allowing them to block or validate any transfer of their tokens.
Integrating the Latch SDK into your dapp’s smart contracts offers multiple advantages. First, enhanced security: users can protect their tokens by blocking unauthorised transfers from their decentralised wallets. By providing an additional layer of security, dapps increase users’ trust in the platform. In addition, the SDK is easy to integrate into existing Smart Contracts, minimising additional development time.
The first customer to implement the Latch SDK has been TU Gallery, an NFT marketplace. Thanks to this integration, buyers can activate authorisation controls that prevent unauthorised transfers of their NFTs. This functionality ensures that users’ digital assets are protected against any unauthorised transfer attempts, providing peace of mind and security for every transaction.
Graduada en el Doble Grado de Ingeniería en Diseño Industrial y Desarrollo de Producto + Ingeniería Mecánica. Soy una persona muy organizada, pero con una mente muy creativa. Trabajo en el equipo de Product Marketing CDO en Telefónica Innovación Digital aprendiendo todo lo que puedo.
