A group composed of developers and security professionals have proposed a set of rules aimed at standardizing security protocols used by companies that handle or store digital currencies for their clients.
The proposal, created by the Cryptocurrency Certification Consortium (C4) and formally unveiled on 11th February during the DevCore bitcoin development conference in Boston, Massachusetts, aims to provide an industry-level standard by which exchanges and wallet providers can operate.
The Cryptocurrency Security Standard (CCSS) draft proposal calls for 10 standardized approaches to key and seed generation, storage and usage, proof-of-reserve and security audits, among others areas. The framework consists of three levels per section, with each grade signifying a higher degree of security based on the proposed guidelines.
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