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Established organizations will be more open to joining the space as the risk of missing key aspects due to misunderstandings are less likely to occur. The C4 mission statement is to develop and maintain standards that will benefit the cryptocurrency ecosystem. These checklists have been reviewed by knowledgeable personnel to ensure least privilege principles are applied to the information system, as well as necessary access where required. This can be performed by humans before using their keys/seeds to ensure theyre sending the right amount of funds to the right addresses /people/companies, or by systems that perform automated signing by checking destination addresses against whitelists and spending limits before the signature is applied. One of the biggest challenges of cryptos is confidence.
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Keys and seeds they should be stored in as secure a manner as business concerns will allow and make use of strategies such as encryption, secret sharing, and physical locks where appropriate. For this reason, ccss should be considered as a separate set of recommendations that are applied overtop standard security practices in other domains including business continuity, disaster recovery, network intrusion prevention, physical security, and vulnerability management.
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Org domain, C4 will assume the sender consents to the use of the email address and name information associated with the email for the purposes of receiving a reply from C4 staff. These copies may be retained until the copy has been replaced by a more recent backup that no longer contains the personal information. Multiple actors are required for all critical actions, advanced authentication mechanisms ensure authenticity of all data, and assets are distributed geographically and organizationally in such a way to be resilient against compromise of any person or organization. Level II, an information system that has achieved Level II security has proven by way of audit that they exceed strong levels of security with additional enhanced controls.
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Tests of the Key Compromise Protocol are executed regularly to confirm the viability of the procedures and to ensure staff remain trained to use them in the case of a compromise. This eliminates the risks associated with missed privileges and the possession of un-revoked keys. Getting to Level-III, which is what the major exchanges should hope to achieve, means that - ccss, even to achieve Level-II, certain best practices for security are required, such as the use of multi-signature wallets. CryptoCurrency Security Standard (ccss) is a set of requirements for all information systems that make use of cryptocurrencies, including exchanges, web applications, and cryptocurrency storage solutions.
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In addition to covering most risks to the information systems assets, the use of decentralized security technologies such as multiple signatures have been employed which exceed industry guidelines and provide redundancy if any one key or person becomes unavailable or compromised. Level III, an information system that has achieved Level III security has proven by way of audit that they exceed enhanced levels of security with formalized policies and procedures that are enforced at every step within their business processes. Another example could involve leaving the backup in escrow with a trusted 3rd party. Ccss is designed to augment standard information security practices and to complement existing standards (ISO 27001, PCI, etc.
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In addition, documentation shows that all concerns raised by the audit have been addressed by the systems team in order to remove the concerns from the system. C4, its affiliates, subsidiaries, and/or partners use the personal information that is collected for the purpose of personnel certification and related activities.