Blockchain security firm Blockaid announced the integration of advanced Onchain Detection and Response (ODR) technology on the Stellar blockchain with its Lobstr and Freighter wallet applications. This integration aims to make users’ crypto transactions more secure.

According to an announcement published by Cointelegraph on October 17, this strategic partnership will give the wallets real-time threat monitoring and rapid response capabilities.

Blockaid defines the security services it offers as a type of antivirus software for Web3 decentralized applications. CEO Ido Ben Natan stated that they protect millions of users against frauds and cyber attacks by warning users when they interact with a dangerous transaction, decentralized application (DApp) or token.

Blockaid’s Web3 security technology has been found reliable by major companies such as Coinbase, Stellar and Metamask. The company announced that it has scanned more than 4.5 billion transactions so far, preventing more than 100 million attacks and preventing potential losses from exceeding $4 billion.

In the first half of 2024, Blockaid signed agreements with many blockchain companies, such as Coinbase Wallet integration and partnerships with 1inch and Avalanche Core Wallet.

Stellar bills itself as a decentralized open source blockchain platform for decentralized finance (DeFi), assets and payments. The market value of its main token, called XLM, is $2.8 billion as of October 16.

It is claimed that Stellar carries out transactions faster and more efficiently, thanks to its Federated Byzantine Agreement (FBA) algorithm. This algorithm manages settlement through a simplified protocol, which helps Stellar gain an advantage over more popular blockchain platforms.

France-based fintech firm Next Generation and Ireland-based electronic money institution Decta are planning to relaunch EURT, a euro-pegged stablecoin on the Stellar blockchain, Cointelegraph reported in August.

This marks a period of relief from regulatory uncertainty for cryptocurrency and blockchain companies operating in the European Union.

It appears that the stablecoin market continues to grow along with Markets for Crypto-Assets (MiCA) regulation and increased regulatory clarity. While the integration of Blockaid will provide a more secure trading environment for Stellar users, it may also inspire other companies in the industry.

Blockaid’s new security features are considered an important step to protect users’ crypto assets. These innovations offered by the Stellar blockchain will not only increase security in the industry, but can also attract more users and investors to the platform.

While the cryptocurrency world has an ever-changing structure, increasing security becomes the key to success in this field. In this context, innovations made by companies such as Blockaid and Stellar can shape future developments.