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Cryptocurrencies

Coinbase to secure digital assets via electromagnetic signal blocking tents

Friday 31 August 2018 | 01:19 PM CET

Coinbase, a US-based cryptocurrency exchange, has been using electromagnetic signal blocking tents to ensure assets stay safe from cybercriminals.

When it comes to storing digital assets, the cryptocurrency community agrees that the safest and most secure way for individual investors to store digital assets is via cold storage. This could be achieved through a hardware wallet like the Ledger S Nano, an air-gapped Linux-based computer, or a paper wallet.

However, according to News BTC, Wired journalist Tim Simonite was invited by Coinbase to witness what he calls “an arcane ritual intended to bewitch Wall Street and help it fall in love with cryptocurrency.”

The journalist talks about an electromagnetic signal blocking tent build by Coinbase which functions like a Faraday cage. “The fabric walls enclose a cubic space about 8 feet across and contain mesh that functions as a Faraday cage, which blocks electromagnetic radiation. By the time the tent is sealed, my connection to the outside world has drained away to nothing. Now the ceremony can begin.”

The aptly named Faraday tent is a shielded tent designed to block electromagnetic signals from escaping and being intercepted by cybercriminals. It’s in this tent where the company securely prints the private keys for its investors.

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