Recently – Iceberg Protocol disclosed development on a utility wallet that will allow for customisation and greater security capability.
The Iceberg team announced plans to release a next-gen wallet which proposes to protect users from scam token airdrops and dangerous connections to fraudulent listing domains.
The Binance Smart Chain cryptocurrency project known for the auto-vest Iceberg protocol utility, has been hard at work to help innovate the crypto space with something new and useful.
Frank Littiero voiced his understanding of utility being needed to ensure the success of any DeFi project.
“We are working on something that we believe to be possible. Our developers are working on a utility wallet that offers added security never seen before.” – Frank Littiero, CEO & Co-founder
What are the specific wallet features?
Wallet features are something that can mean the difference of considerable levels of adoption and almost none at all.
Cryptocurrency traders are particular about their tools, and wallets are one of the most important. The interoperability – or not, aesthetics, functionality, security, and ease of use all make a difference when traders and investors are selecting their wallets of preference.
The Iceberg Protocol wallet – in development – is envisioned to have a combination of customizations and safety features that give it an edge over others that don’t offer the technological advances addressed in the Iceberg utility wallet.
Traders and investors would jump at something that helped keep their BTC, ETH, and $ICEBERG safer.
Customizable Seed Phrase
A custom seed phrase will give users an enhanced experience that has never been accomplished in crypto wallet security.
Until now, there have only been manual seed phrase randomizers and similar wallet features. Something like this would be an actual first-of-its-kind.
Wallet Captcha Log-in
Another first – a captcha option when logging into this unique crypto wallet would provide an extra layer of security for users.
This could provide both extra convenience and prevent remote compromise by bad actors and would-be thieves.
Anti-airdrop with auto-burn protection
Dust attacks and other scams targeting cryptocurrency asset removal from digital wallets, are at all time highs. According to CNBC, crypto scammers stole $14 billion in cryptocurrency assets last year – a record high.
Theft that comes in the form of fake or scam tokens being sent to the host wallet, can clean out assets in a matter of seconds.
The anti-airdrop and auto-burn function integrated into the proposed Iceberg super wallet would not only prevent the scam token from entering your wallet, but it would also get rid of the harmful token for good.
Details of how this would work from the user experience are still being worked out and perfected as development is being conducted real-time.
White Listing specific websites and domains
How about a feature that only allows connection to legitimate listing sites? This is a major feature in development, as there have been documented scams that have accounted for millions in losses.
In 2021 there were widespread thefts involving the cloning of the well-known Poocoin domain and metamask plug-ins.
In the event of a potential compromise, and an emergency situation necessitating an immediate lockdown, a drill password lock option would allow wallet holders to lock their assets down for an uninterrupted period of 48 hours.
The implications for this could be big, with the rise of elaborate crypto thefts and schemes only increasing by the day.
A little more about Iceberg
While development proceeds forward on this would-be state-of-the-art utility, Iceberg is sticking to its strategic press plan, with regular news and articles of latest developments being published for current and future investors. Iceberg has been listed on Coin Market Cap and Coingecko, as well as other popular cryptocurrency listing sites.
The token has a successful Techrate Audit and an active cross-chain swap built by strategic partner Rubic. An efficient token burning process has seen greater than 30% of the supply burned thus far.
The burn protocol has proven to be effective, but with the recent price drops seen in the cryptocurrency market and Binance’s native BNB in particular, the team has made it a point to keep building through the choppy digital seas.
What are the next steps for Iceberg?
The team has reiterated its commitment to their initial plan, which was always to keep a great amount of focus on the development of further use-cases for the BSC based crypto project. Social media channels for Twitter and Reddit along with a Telegram community are all actively monitored by team members.
As the development of the Iceberg first-of-its-kind smart wallet ensues, the team has kept news current in the telegram community.
Team members are standing by there to answer questions and share details of the frequent giveaways and promotions announced by the community-focused project.
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