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Highlights
- Forta claims that its users can react immediately to neutralize attacks.
- On Twitter, it was announced on June 15 that the Forta crypto had been launched.
- Forta crypto was down by 20 per cent at the time of writing.
Cybersecurity in cryptocurrency is more important than ever, as we have witnessed major hacks recently. Forta, a cybersecurity firm, aims to address this by attempting to create a crypto-first version of centralized cyber organizations such as CrowdStrike.
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To achieve its goal, Forta has launched its FORT token, designed to incentivize security experts to keep an eye on blockchain networks.
As per CoinMarketCap data, Forta crypto was down by 20 per cent at the time of writing and trading at US$ 0.7072 per token. Meanwhile, data like the market cap and circulating supply of the FORT crypto are unknown.
What is Forta?
According to the official website, it is a real-time detection network for monitoring blockchain activity and security. Forta is a community-based, decentralized monitoring network that detects threats and anomalies in real-time on Web3 systems, non-fungible tokens, bridges, and decentralized finance (DeFi).
Forta claims that users can react immediately to neutralize attacks and prevent loss of funds after receiving fast and appropriate notifications about the security and health of owned or dependent systems.
To examine all transactions, Forta comprises independent node operators. When a problem is discovered, node operators transmit potential risk notifications to subscribers, allowing them to take action.
Developers can use Forta to create detection bots, which can then be run on the decentralized Forta network to find unusual behaviour in every blockchain transaction.
The FORT crypto acts as a utility and governance token of Forta. Also, smart contracts are used along with the Forta crypto to secure and govern the network.
Bottom line
On Twitter, it was announced on June 15 that the Forta crypto had been launched. It is currently listed on crypto exchanges like Coinbase Exchange, MEXC, Uniswap, and Bybit.
As it is a new token, investors could stay cautious of the Forta crypto as the market is already facing increased volatility. Recently, the valuation of the crypto market fell below the US$ 1 trillion mark; at 5 AM EST, it was valued at US$ 900.85 billion.
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