Place/Date: - August 29th, 2022 at 8:11 am UTC · 3 min read
In light of the recent string of hacks on high-profile exchanges, many investors are looking for alternatives that offer more security. One such option is Uniglo (GLO), which has just undergone a Paladin audit. Following an analyst sentiment, Uniglo (GLO) scored better on safety than PancakeSwap (CAKE) and Uniswap (UNI).
The audit, conducted by cybersecurity firm Paladin, gave GLO a high rating. The audit looked at several factors, including the protocols’ code, governance structures, and liquidity providers. On regulation, CAKE and UNI had a few issues that needed to be addressed, while Uniglo was largely compliant.
The audit praised GLO’s governance structure, which saw it as robust and decentralized than CAKE and UNI. The Audit is good news for Uniglo and should help attract more users and liquidity.
While PancakeSwap (CAKE) and Uniswap (UNI) have been available for a while, the ICO process for Uniglo is now ongoing. Initial coin offerings, or ICOs, leverage blockchain-based crowdsourcing to finance the expansion of the enterprise. However, fraud is a problem that often affects ICO operations.
Regarding Uniglo, they recently succeeded in enhancing their security via the Paladin audit. The team has already completed the KYC verification test administered by the top security and auditing organization Coinsult.net, demonstrating the team’s entire accountability and authenticity. To further understand the uniqueness of Uniglo, we must look at its inners.
Uniglo operates by adding a sales tax on all purchases. Then, this tax is used to buy various goods, creating a reliable pricing basis and an actual store of value. Fiat currencies no longer have a gold peg since they may now be built at a whim, depreciating existing coins and leading to serious inflation problems. Fiat currencies lost their gold peg many decades ago.
You’ve undoubtedly seen how serious of an issue inflation has lately become for the world economy. GLO addresses this by being asset-backed by various goods, including NFTs, cryptocurrencies, and virtual gold. People now have a reliable base pricing, thanks to this.
The fact that GLO employs a deflationary dual-burn technique to cut supply further makes it one of the most robust inflation-fighting strategies the market has ever seen, which is why whales are significantly boosting their holdings.
Besides KYC’d team and audited smart and vesting contracts, many other factors contribute to Uniglo’s excellent security. To begin, Uniglo employs a security paradigm known as multi-sig treasury, which necessitates the collection of votes from a variety of members of the community before any activity occurs. Hackers will have more difficulty gaining access to money due to this.
Second, to guarantee that all users have undergone the appropriate levels of due diligence, Uniglo has implemented a strict KYC/AML policy. Because of this, dishonest users are less likely to be able to use the site to launder money.
Last but not least, Uniglo has an experienced and capable group of security professionals that are always trying to locate and address any possible security flaws.
In conclusion, with the help of Paladin Audit, Uniglo (GLO) continues to dominate safety ratings over PancakeSwap (CAKE) and Uniswap (UNI). This is because Uniglo has a more robust security mechanism and has undergone testing and approval by a third party.
So if you’re looking for a more secure option for storing your cryptocurrency, Uniglo’s (GLO) is a great choice.
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