Non-custodial wallet provider Safe unveils security network to turn SAFE tokens into economic good

Safe Foundation has launched Safenet, a decentralized transaction security network designed to enhance security for Safe wallet users. Safenet utilizes a network of validators to evaluate transactions against security rules, aiming to prevent attacks like phishing and malicious code deployments. This initiative marks the first economic use for the SAFE token beyond governance, with validators earning rewards for securing the network. Founding validators have staked a minimum of 3.5 million SAFE tokens each, transforming the token's utility. Users can override the Safenet security layer with additional owner approval. Safenet is designed to be Byzantine Fault Tolerant, capable of functioning even if a third of validators act dishonestly.

(Source：The Block)