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Blockchain security firm Blockaid is partnering with Lobstr and Freighter wallet apps to provide threat monitoring and response for the Stellar blockchain, working like an antivirus application for the decentralized web. Blockaid, which has prevented over 100 million attacks and saved users $4 billion, is recognised by major companies like Coinbase, Stellar, and Metamask. The Stellar blockchain, known for its speed and efficiency, is an open-source platform focused on decentralized finance and payment. It carries the XLM token, which has a market value of $2.8 billion. Blockaid has partnered with numerous blockchain companies in 2024.

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Blockchain security company Blockaid is ramping up its protective tech on the Stellar blockchain, starting out with Lobstr and Freighter wallet apps. This partnership means that these wallets will get threat monitoring in real time, with super-fast response times when dodgy stuff goes down. And more integration work is on the way.

Blockaid’s services are kind of like antivirus software, but for decentralized web applications. The CEO of Blockaid, Ido Ben Natan, explained that one of their first improvements is to alert users when they’re about to mess around with a risky transaction, application, or token. By raising red flags on these nasty interactions, they’re keeping heaps of users safe from scams and hacks.

Quick fact check: the security tech from Blockaid, which is trusted by big shots like Coinbase, Stellar, and Metamask, has scanned over 4.5 billion transactions. It’s managed to stop more than 100 million attacks and saved users from losing over $4 billion.

Just in the first half of 2024, Blockaid struck deals with lots of blockchain companies, including an integration with the Coinbase Wallet in March, and forming partnerships with 1inch and Avalanche Core Wallet in June.

Getting to know Stellar – it’s a decentralized blockchain platform that’s open-source. It focuses on decentralized finance, assets, and payments. The main token on Stellar is XLM, which has a market value of $2.8 billion as of Oct. 16.

Stellar is known for being faster and more efficient compared to other big blockchain platforms like Bitcoin. That’s because it uses a unique method called the Federated Byzantine Agreement (FBA) algorithm.

In August, two fintech companies, France-based Next Generation and Ireland-based Decta, announced plans to reintroduce a stablecoin pegged to the euro, called EURT, on the Stellar blockchain. This brought some much-needed confidence to crypto and blockchain companies in the EU, who’d been dealing with some regulatory worries. Since then, the stablecoin market has been on the up and up.

Source: Cointelegraph