MultiversX (EGLD)Introduces On-Chain 2FA Anti-Scam Solution.
MultiversX, formerly known as Elrond, has introduced Guardians, an on-chain two-factor authentication (2FA) security standard to combat crypto scams and theft. Users can leverage popular 2FA methods like Microsoft or Google Authenticator and assign a guardian to their accounts for added security. Guardians undergo thorough testing to ensure strong protection against scams and theft of funds. By establishing a guardian address during the registration process, users enable 2FA-controlled signatures, requiring both their own and the guardian's signatures for transactions. This innovative feature aims to address vulnerabilities in the cryptocurrency landscape, offering users an additional layer of security and control over their funds.
