New Standards Aim to Boost Trust and Security in Blockchain World

Wakefield, Massachusetts, USA – The Blockchain Security Standards Council (BSSC) today announced the public launch of its first four security standards.

This move marks a significant step towards enhancing the security and trustworthiness of the blockchain ecosystem, aiming to protect digital assets and increase confidence in blockchain networks.

The new standards are designed to address critical areas within blockchain operations. According to the announcement, they provide an essential foundation for security as blockchain technology continues to see widespread adoption.

“As blockchain technology gains widespread adoption, the need for robust security measures becomes increasingly critical,” said Greg Kohn, BSSC Executive Director. He noted the proliferation of attacks and significant value loss in blockchain systems this year, stating that the standards will “materially enable blockchain’s continued rapid growth.”

The four standards now available via the organization’s website are:

• Node Operation Standard (NOS): Sets requirements for securely operating a blockchain node, focusing on integrity, resilience, and safe participation within a network.
• Token Integration Standard (TIS): Ensures digital assets like tokens are integrated safely and securely, covering asset governance and technical configuration for reliable operation.
• Key Management Standard (KMS): Offers best practices for the secure handling and use of cryptographic keys, important for block proposal, validation, and wallet custody.
• General Security and Privacy Standard (GSP): Defines baseline risk management, security, and privacy requirements applicable to all participants in blockchain.

The BSSC is a nonprofit technology consortium formed specifically to counter threats like protocol exploits, fraud, and targeted attacks that they believe hold back crypto’s potential. Its membership includes prominent companies such as Anchorage Digital, Coinbase, Figment, Halborn, Fireblocks, Kraken, OpenZeppelin, Ribbit Capital, Turnkey, and Bitgo.

The organization is currently developing audit frameworks to support these initial standards and planning its next phase of technical work.

The BSSC invites blockchain developers, operators, security practitioners, and other interested parties to join their mission.

Information on becoming a member, including options for contributing to technical work or reviewing draft standards, is available on their membership page.

The Blockchain Security Standards Council (BSSC) is a nonprofit organization dedicated to improving the security of blockchain systems and digital assets through the development of security standards and audit frameworks. It works to protect the integrity and support the growth of the blockchain ecosystem.

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