CryptoSafe
Your Web 3 Shield: Safeguarding Crypto, Restoring Trust, Fostering Web3 Adoption
Demo
About
The problem it solves In the rapidly evolving realm of Web 3 and blockchain technologies, securing cryptocurrency investments is paramount. The surging popularity of crypto investments brings increased risks, notably fund loss due to exchange crashes, as seen in the recent FTX incident. CryptoSafe addresses this critical challenge, safeguarding both crypto exchanges and users' assets. Our innovative deposit insurance system ensures asset safety within Web 3. Users and exchanges gain confidence even in the face of unexpected events. CryptoSafe _bolsters security and trust in the Web 3 ecosystem, fostering crypto adoption._ **Problem:** Cryptocurrency investments carry significant risk, with the potential for investors to _lose their funds_ due to unforeseen events, such as exchange crashes, undermining trust in the Web 3 ecosystem. **Aim:** To solve the critical challenge of protecting digital assets in a rapidly evolving and dynamic landscape, ultimately _enhancing the sustainability and trustworthiness of the crypto world._ **Challenges in the Current Web 3 Ecosystem:** - Crypto exchanges are ***prone to crashing***, making them unstable. - Investors who lose money due to crashes have ***reduced confidence*** in Web 3. - The cryptocurrency market is ***highly volatile.*** **Key Features of CryptoSafe:** - Deposit insurance for various crypto exchanges. - ***Immediate release of funds*** to back up exchanges facing potential bankruptcy. - ***Transparent*** view of exchanges' deposit amounts. Thus, in the event of exchange crashes, insured funds in CryptoSafe will back up the exchange, **ensuring market stability and reducing potential volatility for various crypto stakeholders.**
How it's made
Challenges we ran into Due to our topic as well as limited knowledge for frontend developmnent, we faces quite a number of problems during the hack: **Producing Good UI/UX (Frontend)** Due to limited time and knowledge on framework such as React, Tailwind etc, it is hard for the team to produce a good user experience interacting the frontend **Integration (Backend & Frontend – Mantle Track)** There is limited Mantle documentation for integrating backend and frontend. **Integration (Backend & Frontend – Aleo Track)** Integrating Frontend with Aleo’s backend (Leo programming language), causes our frontend have limited functionalities **Deplyment on Aleo** We tried to deploy on Aleo testnet but failed to do so although we have follow the guide. **Developing using Leo** Aleo Blockchain has limited support on retrieving on-chain state and return as value in console using Mapping