{"id":913,"date":"2023-02-27T11:35:16","date_gmt":"2023-02-27T11:35:16","guid":{"rendered":"https:\/\/shellboxes.com\/blog\/?p=913"},"modified":"2023-03-21T10:58:09","modified_gmt":"2023-03-21T10:58:09","slug":"protect-your-nfts-from-hackers-with-blockchain-security","status":"publish","type":"post","link":"https:\/\/shellboxes.com\/blog\/protect-your-nfts-from-hackers-with-blockchain-security\/","title":{"rendered":"<strong>Protect Your NFTs from Hackers with Blockchain Security<\/strong>"},"content":{"rendered":"\n<p>Non-fungible tokens (NFTs) trading are among those sectors which gained mainstream attention in the past few years. Fungible generally means interchangeable, which means you can exchange a dollar bill or a Bitcoin with another dollar bill or a Bitcoin, respectively. However, non-fungibility is used to denote ownership which can be tracked on the blockchain.&nbsp;<\/p>\n\n\n\n<p>NFTs sold in millions of dollars have made headlines. This increasing trend is creating concern about NFTs&#8217; security as well. Hacks and attacks in crypto exchanges, DeFi protocols, individual attacks, etc., are common, but NFTs also have some security threats associated with them.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>NFTs and Private Key Security<\/strong><\/h2>\n\n\n\n<p>NFTs work like cryptocurrency tokens, with ownership recorded on the blockchain and secured in a digital wallet.&nbsp;<\/p>\n\n\n\n<p>So, for NFTs&#8217; security, private key security is critical. If a malicious actor gains access to the private key, he can undergo a transaction that will transfer the ownership of the NFT from one person to another on the blockchain.&nbsp;<\/p>\n\n\n\n<p>Moreover, due to the immutable nature of blockchain, such fraudulent transactions would be irreversible.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>51% Attack and Ownership on The Blockchain<\/strong><\/h2>\n\n\n\n<p>Since an NFT&#8217;s transaction and ownership are recorded on the blockchain, blockchain immutability should protect the buyer&#8217;s asset ownership.&nbsp;<\/p>\n\n\n\n<p>However, a 51% of attack, which allows hackers to gain access to 51% of the computing power of the network, is common on smaller blockchains. After gaining access, they can rewrite and reorganize the network into a new blockchain version. Such a newly created and controlled network may revoke an NFT ownership.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Secure Your NFTs Ownership on The Blockchain<\/strong><\/h2>\n\n\n\n<p>Securing your digital assets and their ownership has always been challenging, but blockchain has changed things, providing enhanced security.&nbsp;<\/p>\n\n\n\n<p>If you own precious NFTs,sell or auction high-value NFTs and are concerned about the security of your assets, you must request a security audit. Moreover, reach out to our security experts at contact@shellboxes.com to see how we can help protect your ownership.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Non-fungible tokens (NFTs) trading are among those sectors which gained mainstream attention in the past few years. Fungible generally means&#8230;<\/p>\n","protected":false},"author":4,"featured_media":955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","rank_math_lock_modified_date":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_ap_featured_post":false,"footnotes":""},"categories":[57,60],"tags":[],"class_list":["post-913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","category-cybersecurity"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/shellboxes.com\/blog\/wp-json\/wp\/v2\/posts\/913"}],"collection":[{"href":"https:\/\/shellboxes.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shellboxes.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shellboxes.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/shellboxes.com\/blog\/wp-json\/wp\/v2\/comments?post=913"}],"version-history":[{"count":1,"href":"https:\/\/shellboxes.com\/blog\/wp-json\/wp\/v2\/posts\/913\/revisions"}],"predecessor-version":[{"id":914,"href":"https:\/\/shellboxes.com\/blog\/wp-json\/wp\/v2\/posts\/913\/revisions\/914"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shellboxes.com\/blog\/wp-json\/wp\/v2\/media\/955"}],"wp:attachment":[{"href":"https:\/\/shellboxes.com\/blog\/wp-json\/wp\/v2\/media?parent=913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shellboxes.com\/blog\/wp-json\/wp\/v2\/categories?post=913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shellboxes.com\/blog\/wp-json\/wp\/v2\/tags?post=913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}