Everything you need to know about this cybersecurity token

Cybersecurity in cryptocurrencies is more important than ever, as we have recently witnessed major attacks. Forta, a cybersecurity firm, aims to address this by trying to create a crypto-first version of centralized cyber organizations like CrowdStrike.

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To achieve its goal, Forta has launched its FORT token, designed to incentivize security experts to keep an eye on blockchain networks.

According to data from CoinMarketCap, Forta crypto is down 20 percent at the time of writing and trading at $0.7072 per token. Meanwhile, data such as the market capitalization and the circulating supply of the FORT cryptocurrency are unknown.

What is Fort?

According to the official website, it is a real-time detection network for monitoring blockchain activity and security. Forta is a community-based, decentralized monitoring network that detects real-time threats and anomalies across Web3 systems, non-fungible tokens, bridges, and decentralized finance (DeFi).

Forta claims that users can react immediately to neutralize attacks and prevent loss of funds after receiving prompt and proper notifications about the security and status of owned or dependent systems.

To examine all transactions, Forta comprises independent node operators. When a problem is discovered, node operators broadcast notifications of potential risks to subscribers, allowing them to take action.

Developers can use Forta to create detection bots, which can then be run on Forta’s decentralized network to find unusual behavior in every blockchain transaction.

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The FORT crypto acts as a Forta governance and utility token. Additionally, smart contracts are used in conjunction with the Forta cryptocurrency to secure and govern the network.

Bottom line

On Twitter, it was announced on June 15 that the Forta cryptocurrency had been launched. It is currently listed on crypto exchanges such as Coinbase Exchange, MEXC, Uniswap, and Bybit.

As it is a new token, investors could remain cautious on the Forta cryptocurrency as the market is already facing increased volatility. Recently, the crypto market valuation dipped below the US$1 trillion mark; as of 5 a.m. EST, it was valued at $900.85 billion.

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