Blockchainmedia - Coinstore's Head of Global Business Development, James Toh, explained a number of new challenges and opportunities in the crypto world and how to exploit them for positive things in the future. The crypto world has recently been shaken by a number of cases, problems and challenges, especially those experienced by centralized crypto exchange (CEX). In this case, security issues also become a separate topic of discussion, especially those related to the dynamics of decentralized crypto exchanges (DEX). This was conveyed by Coinstore's Head of Global Business Development, James Toh, as well as his thoughts about the challenges and opportunities that lie ahead in the crypto world. At the beginning, James emphasized the importance of the role of CEX in the crypto world despite its vulnerabilities and that CEX can continue to survive hand in hand with DEX, because each has its own advantages and disadvantages."We still cannot be separated from CEX, and it will continue to coexist with decentralized exchanges (DEX) in the future. After all, storing and transacting crypto assets via CEX, for example at Coinstore so far "This is very safe, easy and comfortable. On the other hand, storing crypto using cold storage is a recommended alternative, especially for the long term," said James in his official statement, Thursday (7/12/2023). James also referred to the concept of Proof- of-Reserves which was implemented by a number of well-known CEXs some time ago. According to James, this does not guarantee any security. "In fact, by disclosing crypto addresses and balances openly through Proof-of-Reserves there are risks involved, even though the intention is positive for the transparency we want to achieve in the crypto world," he said. Wallets on DEX are not always safe. In contrast to the general belief in the crypto world that wallets on DEX are the safest for storing crypto, James actually thinks otherwise. "Crypto wallets on DEX do allow users to have full control over their crypto, because the private key is on the user's side itself. But that doesn't guarantee safety. "Remember, that even though the wallet on DEX is open source, it was developed by a number of developer teams centrally, so there is the potential for there to be a back door in the system that could make crypto unsafe," added James. Still regarding security in the crypto world, James highlighted the vulnerability aspect of using smart contracts. in decentralized finance (DeFi). In this regard, James urges crypto project owners and managers to ensure security and clear audits on the smart contracts they use, so that users feel safer. New Opportunities for the Crypto World in the Future Regarding what new opportunities in the world crypto for the future, James revealed, many things, including Ordinals Inscription, Spot Bitcoin ETF and the role of bridge protocols between blockchains. "For me Ordinals Inscription is an interesting thing, because it increases the Bitcoin blockchain use case for issuing fungible and non-fungible tokens token. This ultimately increases demand for BTC itself. Although commercially it is still questionable. And that is in line with the potential for the birth of the first Bitcoin Spot ETF in the United States next year. "An ETF like that is able to increase market liquidity, reduce volatility and attract institutional investors," he explained while emphasizing the increasingly mature regulations. Security is Coinstore's Main Focus. Above all, James ensures that the security aspect is always Coinstore's main focus so that users always feel comfortable and safe." Asset security is our top priority. We have invested heavily in security infrastructure and undergo regular audits. We must always do this, especially when we have entered our third year in this dynamic crypto world. Just look at our Launchpad program, the average oversubscription rate has reached 357.57 percent. Lastly, James advised the public to use a crypto exchange that is clearly safe and proven to be far from being disturbed by hackers like Coinstore.$BTC $ETH $SOL #btc #eth #newscrypto