A prominent decentralized public network, known as Hedera, has remained steadfast in its focus on cybersecurity, ensuring a secure environment for decentralized applications and transactions while safeguarding its network against potential threats. In a notable development, Hedera has announced its founding membership in the recently established Crypto Information Sharing and Analysis Center (Crypto ISAC). This non-profit organization is dedicated to bolstering security measures within the cryptocurrency ecosystem.
Formation Participants
The establishment of Crypto ISAC brought together major industry players such as Aleo, Circle, Coinbase, Consensys, Evertas, Fireblocks, Kraken, Offchain Labs, Red Balloon Security, Ribbit Capital, Solana Foundation, and Trail of Bits. This coalition has collectively pledged to tackle the security challenges confronting the crypto sector. Their collaboration aims to facilitate the sharing of crucial security information among stakeholders and coordinate actions to uphold the integrity of Blockchain technologies.
Objectives of Crypto ISAC
Crypto ISAC has defined five strategic objectives to drive its mission. Firstly, it seeks to establish a trusted environment where private sector entities and government agencies can collaboratively bolster the resilience of the global crypto asset and Blockchain industries, including measures to combat the misuse of Web3 infrastructure.
The second objective revolves around unbiased information sharing. Crypto ISAC will serve as a neutral information intermediary, employing secure channels to consistently and securely distribute information, ensuring the reliability and credibility of all shared data.
Additional Objectives
The third strategic objective is to enhance the quality of information dissemination. Crypto ISAC is dedicated to improving the timeliness, quality, and quantity of information exchanged among its members, facilitating prompt notification of actual or potential security incidents for timely response.
The fourth objective emphasizes collaboration among industry stakeholders. Through collaborative threat assessments, Crypto ISAC aims to safeguard critical crypto assets and Blockchain infrastructure by providing relevant, contextual, and actionable information in line with industry-leading security standards.
Lastly, Crypto ISAC aims to foster resilience in the crypto sector by promoting adaptability and agility in response to evolving threats, strengthening Blockchain protocols to align with emerging technologies and changing national and international crypto regulations. This objective is essential in ensuring the security and reliability of Blockchain networks as the industry progresses.
