2024

DeFi

Security

Polygon

Chainlink

<h4><strong>This innovative step enables smart contracts to detect unauthorized SIM changes. Advancing the battle against mobile fraud and enhancing global user security.</strong></h4> 
<p>Integrating Chainlink Functions, Telefónica bridges real-world data with blockchain smart contracts via a decentralized oracle network.</p> 
<h5><strong>Telefónica Leverages Chainlink for Enhanced SIM Security</strong></h5> 
<p>Chainlink Functions allow smart contracts to execute based on inputs from external data sources. In this case, Telefónica’s vast network data, including SIM card status information. Deploying on Polygon, Telefónica taps into its scalability, speed, and low costs.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Multinational telco <a href="https://twitter.com/Telefonica?ref_src=twsrc%5Etfw">@Telefonica</a> has integrated <a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw">#Chainlink</a> Functions on <a href="https://twitter.com/0xPolygon?ref_src=twsrc%5Etfw">@0xPolygon</a> mainnet to help smart contracts detect unauthorized SIM card changes. </p> 
 <p>Understand how Functions can provide an additional layer of security to blockchain transactions <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2b07.png" alt="⬇" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/jIpKbrOZff">https://t.co/jIpKbrOZff</a> <a href="https://t.co/Dsbv8JflNs">pic.twitter.com/Dsbv8JflNs</a></p> 
 <p>— Chainlink (@chainlink) <a href="https://twitter.com/chainlink/status/1758114142643208584?ref_src=twsrc%5Etfw">February 15, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>The primary aim of this integration is to safeguard mobile users from the increasingly common threat of SIM swap fraud. This type of fraud involves attackers unlawfully transferring a victim’s phone number to a SIM card in their possession. This enables them to bypass security measures like two-factor authentication (2FA) and gain unauthorized access to sensitive personal and financial information.</p> 
<p>By utilizing Chainlink Functions, Telefónica’s <a href="https://www.altcoinbuzz.io/?s=smart+contract" target="_blank" rel="noopener">smart contracts</a> can now automatically verify any changes made to a user’s SIM card information. Flagging unauthorized swaps and potentially preventing fraudulent activities.</p> 
<h5><strong>More About Chainlink</strong></h5> 
<p>Onthis has recently unveiled Shortcuts, a groundbreaking feature designed to significantly enhance the user experience in the blockchain space. Shortcuts, fueled by Chainlink CCIP and Automation, simplify sending tokens across blockchains with easy-to-use addresses.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">.<a href="https://twitter.com/onthisxyz?ref_src=twsrc%5Etfw">@onthisxyz</a> has released Shortcuts—a user-friendly feature powered by the industry-standard <a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw">#Chainlink</a> CCIP and Automation.</p> 
 <p>See how Shortcuts enable users to send tokens cross-chain using human-readable addresses<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/Xnng6TUT4a">https://t.co/Xnng6TUT4a</a></p> 
 <p>— Chainlink (@chainlink) <a href="https://twitter.com/chainlink/status/1757449595141885976?ref_src=twsrc%5Etfw">February 13, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>This innovation addresses one of the major complexities in the cryptocurrency world: the cumbersome process of cross-chain transactions. Shortcuts streamline asset management across blockchains, broadening access to <a href="https://www.altcoinbuzz.io/?s=defi" target="_blank" rel="noopener">DeFi</a> and blockchain apps for more users.</p> 
<p>This approach, using Chainlink’s infrastructure, significantly advances blockchain’s usability and accessibility for daily use.</p> 
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<p><strong>Disclaimer</strong><br> The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/telefonica-uses-chainlink-on-polygon-for-sim-security/">Telefónica Uses Chainlink on Polygon for SIM Security</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Telefónica Uses Chainlink on Polygon for SIM Security

Altcoin Buzz

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