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What is Sphere (SXS)?

Sphere basic info

Name:Sphere

Ticker:

SXSBuy now

Introduction:

Security is at the root of the crypto industry's continued growth. For investors, the security of their funds is a top priority. To disseminate fundamental funds security knowledge and enhance investors' risk management and funds safety awareness, we've compiled common terms and e xplanations to help you better understand this aspect of investment.

Multi-factor authentication (MFA)

Multi-factor authentication (MFA) is a security method that requires users to provide two or more distinct authentication factors to verify their identity. These factors can include passwords, fingerprints, facial recognition, smart cards, and more. MFA enhances account security because even if an attacker knows the user's password, they still need additional authentication factors to access the account.

Phishing attack

In phishing attacks, attackers impersonate trusted websites, making it hard for users to spot the difference. Users may unknowingly share sensitive data like usernames, passwords, and 2FA, which can be exploited to access devices and accounts, potentially leading to unauthorized asset transfers. Therefore, it is important to exercise caution and avoid falling victim to these scams.

Official verification channels

Official verification channels are offered by exchange platforms to prevent fraudulent individuals from impersonating official personnel. Users can verify their identities through methods such as email, phone numbers, WhatsApp, and other links and accounts.

Anti-money laundering (AML)

Anti-money laundering refers to the act of adopting relevant measures to prevent any money laundering activity for the purpose of concealing or disguising, by all means, the sources and nature of criminal proceeds generated from any drug-related crime, organizational crime of any gangland, terrorist crime, crime of smuggling, crime of corruption or bribery, crime of disrupting the financial management order, crime of financial fraud, etc. Anti-money laundering is essential for the steady operation of the financial system, social justice, fair m arket competition, and combating corruption and other economic crimes.

Know Your Customer (KYC)

KYC stands for "Know Your Customer". KYC effectively prevents user identity theft and other forms of manual intervention. In addition, KYC greatly improves user asset security and reduces fraud, money laundering, scams, and terrorism financing. To safeguard user account and asset information, in the event that a user's account or assets are at risk, verifying their KYC information can help the user quickly regain control of their account.

Financial license

Financial licenses are credentials that a company or person has with a financial authority in order to be able to provide financial services or trading services. The types of financial licenses may vary from one country or region to another, including banking licenses, securities licenses, and insurance licenses, and the requirements for obtaining them can also differ. Obtaining a financial license typically requires meeting a set of specific requirements and standards, as well as complying with relevant regulations and legal requirements. The crypto industry, being relatively new, has not yet established a unified regulatory framework and standards globally. Regulatory attitudes vary among different countries and regions. In the Asia-Pacific region, Hong Kong initiated its licensing regime for virtual asset exchanges on June 1, 2023.

Merkle tree

A Merkle tree is a tree-like data structure used to verify the integrity and security of data. At the bottom of each account, there is an account node, and both the account balance and account name will be encrypted using SHA256 once. The obtained hash value can be recalculated along with the adjacent hash values, and then computed layer by layer upward until the hash calculation reaches the root of the Merkle tree structure. To verify if the ledger has changed, users only need to follow the steps to perform a hash calculation on their account, locate their position in the tree along with adjacent nodes, and then compute hash values layer by layer until they ultimately reach the tree root that the user has calculated. This data structure is widely used in many fields, such as blockchain, databases, file systems, and more.

Proof of Reserves (PoR)

Proof of reserves (PoR) refers to an auditing procedure that verifies the holdings of an exchange through cryptographic proofs, public wallet ownership, and recurring audits. The custodian ensures transparency and provides proof of on-chain reserves being equal to or exceeding the sum of all user holdings. If the total amount verified is greater than or equal to 100%, it means that the platform can provide full protection for all user assets.

Smart contract audit

A smart contract audit involves a detailed inspection and analysis of the code of a smart contract on a blockchain to identify vulnerabilities, flaws, or other potential security issues. Smart contract code audits need to pay special attention to the security, correctness, reliability, and scalability of smart contracts to ensure that the functionality and business logic of the smart contract meet expectations and will not be exploited by hackers or other security threats. Smart contract code audits are typically conducted by professional security auditors or security firms to ensure the security and stability of smart contracts.

Nansen

Nansen is a blockchain data analytics platform that monitors changes in on-chain addresses and smart contracts over time. This enables users to instantly access the latest market movements and trends, empowering them to make well-informed investment decisions.

ISO/IEC 22301:2019

ISO/IEC 22301:2019 is an international standard for Business Continuity Management (BCM) published by the International Organization for Standardization (ISO). This standard provides a framework to assist organizations in maintaining business continuity when faced with unexpected events. It includes a series of requirements and best practices to help organizations respond, recover, and safeguard their critical business functions rapidly when disasters occur. This standard applies to organizations of all types and sizes, regardless of industry or geographical location.

ISO/IEC 27701:2019

ISO/IEC 27701:2019 is a Privacy Information Management System (PIMS) standard developed based on the ISO/IEC 27001 Information Security Management System (ISMS) framework. The standard provides a framework to help organizations effectively manage private information and ensure their compliance with relevant privacy regulations and legal requirements. It also provides some best practices for organizations to maintain the effectiveness and sustainability of their private information management systems.

ISO/IEC 27001:2013

ISO/IEC 27001:2013 is a standard for Information Security Management System (ISMS) that provides a framework to assist organizations in safeguarding the confidentiality, integrity, and availability of their information. It also ensures the effectiveness and sustainability of their information security management system. The standard includes a series of best practices, such as risk assessments, security controls, and internal audits, to ensure that organizations are able to identify and manage their information security risks. In addition, the standard provides guidance for organizations to ensure that their information security management systems are capable of continuous improvement and adaptation to changing environments.

PCI DSS v3.2.1

PCI DSS v3.2.1 is a Payment Card Industry Data Security Standard (PCI DSS) designed to ensure that all organizations handling payment card data adhere to a set of security standards and best practices. Its goal is to protect customers' payment card information from theft or misuse. This standard includes a set of requirements, such as secure network configurations, encrypted storage, access control, and regular monitoring and testing, to ensure that organizations can safeguard the security of their payment card data. The standard also requires organizations to conduct regular self-assessments and audits and to demonstrate compliance with the standard through independent third-party audits.

NIST cybersecurity framework

The NIST cybersecurity framework is an effective information security management framework that helps organizations establish and maintain effective information security management systems. The US National Institute of Standards and Technology (NIST) provides frameworks, methodologies, and technical guidelines to help organizations perform risk assessment, security controls, and security management. The NIST cybersecurity framework also covers important areas such as authentication, access control, encryption, vulnerability management, incident response, and continuous monitoring.

Security is a broad concept with too many aspects to cover in one single article. e hope that this article provides you with the fundamentals of asset security in the crypto world and assists you in navigating the crypto space with greater security.

Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.

Current price:

$0.00More price details

All-time high:$0.05679

All-time low:$0.0002088

SXS supply and tokenomics

Circulating supply:16,251,088 SXS

Total supply:100,000,000 SXS

Max supply:100,000,000 SXS

Market cap:$0.00

Fully diluted market cap:$21,284.96

Links

Website:https://www.spheresxs.com/

Whitepaper:https://www.spheresxs.com/whitepaper

X:https://twitter.com/SphereSXS

Buy Sphere for $1Buy SXS now

What is the development prospect and future value of SXS?

The market value of SXS currently stands at $0.00, and its market ranking is #999999. The value of SXS is not widely recognized by the market. When the bull market comes, the market value of SXS may have great growth potential.

As a new type of currency with innovative technology and unique use cases, SXS has broad market potential and significant room for development. The distinctiveness and appeal of SXS may attract the interest of specific groups, thereby driving up its market value.

What will the price of SXS be in 2025?

Based on SXS's historical price performance prediction model, the price of SXS is projected to reach $0.004163 in 2025.

What will the price of SXS be in 2030?

In 2030, the SXS price is expected to change by 0.00%. By the end of 2030, the SXS price is projected to reach $0.006907, with a cumulative ROI of +0.69%.

Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of SXS and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

SXS price SXS price prediction SXS news

Is SXS worth investing or holding? How to buy SXS from a crypto exchange?

If you want to buy SXS, the following information may be helpful for your investment decisions:

In the last 7 days, the price of SXS has fallen by -0.02%, leading to negative returns for most SXS investors. The market is currently pessimistic about the price trend of SXS.

It is important to note that the current price of SXS has retreated by -100.00% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.

Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.

To decide whether SXS is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.

Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in SXS or any cryptocurrency comes with certain risks and uncertainties.

Regardless of your outlook on the development prospects and future trends of SXS, if you want to buy or sell SXS, you can consider Bitget for your trading needs. The best place to buy SXS is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.

Investing in Sphere has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Sphere. Here's a step-by-step guide on how to buy Sphere on Bitget.

Buy SXS now Coin buying guide

How to get Sphere through other methods？

Using cash to buy Sphere is not the only way to obtain Sphere. If you have the time to spare, you can get Sphere for free.

Learn how to earn Sphere for free through the Learn2Earn promotion.

Earn free Sphere by inviting friends to join Bitget's Assist2Earn promotion.

Receive free Sphere airdrops by joining ongoing challenges and promotions.

All crypto airdrops and rewards can be converted to Sphere through Bitget Convert, Bitget Swap, or spot trading.

What is Sphere used for and how to use Sphere?

The use case of Sphere may expand as the crypto market and the project itself develop. Currently, you can use SXS to achieve the following goals:

Arbitrage by trading SXS: Since SXS is a frequently traded cryptocurrency, the price of SXS is always fluctuating. Earn more SXS by buying low and selling high on the exchange. Bitget spot market provides a variety of SXS trading pairs to fully meet your needs.

Earn by staking SXS: You can also generate income through financial management methods such as staking SXS or lending SXS. Bitget Earn offers a variety of financial products designed to help you earn more income from your SXS.

Send or pay SXS: If you want to give SXS to your friends, a charity, or a fundraiser, or you want to pay someone with SXS, you can quickly and easily send SXS to the recipient through their payment address.

You can also go to the official website of the Sphere project to learn more about the use cases of SXS. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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