Imagine that you own a castle. As a proud owner of such an impressive, shiny fortress, you’ve likely got defenses – a sturdy wall and a heavy gate to protect your valuables. When an advancing army approaches, however, you don’t necessarily want them to test that security. You wouldn’t even lower the drawbridge!
Your passwords function the same way and are your first line of defense to keep bad guys from ever even getting a foothold near your digital hoard.
Welcome to the 6th installment of The Guardian Papers, where we walk you through how you can protect yourself from the digital miscreants who seek to steal, cheat, and otherwise destabilize our beloved community.
As the blockchain revolution continues to provide opportunities for people all over the world, those who lurk in the shadows are always eager to prey on the unaware. It is our goal with this series to educate and empower our community to resist and repel the monsters who hide out there in the digital darkness, so that we all can be safe, secure and more prosperous as we build a better future together.
Miss an issue of The Guardian Papers? Catch up below!
In the next few articles, we’ll be talking about security fundamentals that apply to all aspects of digital defense. We’ll rotate back to the Gala community specifically soon, but for now these are fundamentals that everyone should learn, and that are often highly exploited in the blockchain world.
What Makes a Password Secure?
Nearly everybody has countless passwords across their digital profile, so you’d think that creating secure passwords is a skill that everybody just picks up early on in life. Unfortunately, despite most people knowing better, many people are still using incredibly unsafe practices with their passwords that can leave your digital assets vulnerable to the bandits of the blockchain frontier.
Increases in technology bring many extra tools to help keep your assets secure, but also give your enemies more sophisticated weaponry to use against you, which makes it more critical than ever to use strong and secure passwords throughout your entire online ecosystem.
Length and Variety
Different platforms have differing minimum criteria for the length and character variety of passwords, and it’s never a bad idea to go overboard. With current computing power, a cybervillain could potentially attempt billions of passwords per second. While this may be limited somewhat by network security features on some platforms, longer and more varied passwords mean more combinations will be required to guess yours.
If you were using a 7-digit password that consisted only of numbers, that password would have 10 million possible combinations (0000000-9999999). Take that same 7-digit password and include capital and lowercase letters as well– now you have 62 possible characters per digit. This would increase the possible combinations of correct answers to a little over 3.5 trillion, still with only 7 characters in the password.
Uniqueness
Not only do you want your passwords to be unique for each of your accounts, but ideally you want them to not be a combination of characters that no one else would have ever thought of in their wildest dreams. Including dictionary words or common mnemonics like a year could leave you vulnerable to hackers looking for low hanging fruit.
Your password shouldn’t be something familiar or easy to remember– the entire point is to make it something that only you know.
This may seem like common sense to many digital veterans, but repeatedly data breaches have shown that things like “password”, “123456” and “qwerty” are the most commonly used passwords throughout the world. Using any common phrases in your passwords makes you the nice, soft target that the enemies of digital sovereignty are after.
Fun Fact: According to a study last year by NordPass, here are the top 10 passwords used worldwide:
1. 123456
2. admin
3. 12345678
4. 123456789
5. 1234
6. 12345
7. password
8. 123
9. Aa123456
10. 1234567890
Don’t be like these people. Make your passwords secure.
Anonymity
If someone is going to try to penetrate your personal passwords, the best place to start is often for them to know their enemy– you! If personal information that they can glean from public records or social media gives them insight into what your passwords may be, they may be able to breach all of your security before you even see them coming.
Using your birth year, your pets’ names, your children’s names or anything simple to guess with just a little information about you is incredibly unwise. Especially if you use similar mnemonics on all your passwords, one glance at your Instagram profile may have given a hacker all they need to clean out your digital hoards.
Common Password Vulnerabilities
Constructing strong and secure passwords certainly helps keep your defenses high. Secure passwords can still have vulnerabilities, however, and it’s extremely important to know all the angles that your password security could potentially be attacked from.
The Human Element
While many insecure passwords are often “brute forced” by miscreants with a program that can guess combination after combination, some are obtained through phishing attempts as we’ve discussed in our previous Guardian Papers profiling the common scams in the blockchain world. This is never to be taken lightly, as criminals will continue to develop new ways to trick your information out of you.
Your passwords are yours, and should never be shared. Even here at Gala, we’ll never ask for your password or keys– anyone who does is up to no good.
Even if you have excellent security and top-notch passwords, one error in judgment can still be exploited to ransack your digital fortress. There is no reason to share personal data or password information with anyone over email, Discord or any social media.
The scammers multiply because their methods get results. This is why it’s absolutely critical that the community here at Gala and throughout the entire blockchain frontier helps educate and empower their fellow digital pioneers. Once every member of the blockchain world is familiar with and prepared to fight off these attacks, these monster’s food source will dry up.
Even the best password hygiene is no substitute for caution when connecting to unknown networks!
Data Breaches
As massive data breaches have repeatedly shown in recent years, even secure information can be compromised and leaked when the defenses of organizations that you trust are compromised. If your passwords are stored with an organization who has been breached, you need to consider that password or any variation on it compromised forever. After a breach, that information is compiled in lists and distributed all over the dark side of the digital world, and information is forever.
In 2020, white hat hacking group FireEye identified a worldwide breach in the SolarWinds software. SolarWinds was a network management company with a global presence, and over 18,000 compromised clients were identified in the breach. FireEye noticed the breach quite by coincidence, but the systems had been compromised for more than a year.
This breach was later determined to be coordinated by the Russian Foreign Intelligence Service, and by leveraging the breached systems within SolarWinds for many months, they were likely able to access a significant portion of protected information across the entire global internet.
Read more about the breach from the US Government Accountability Office.
To limit your vulnerability to data breaches that are beyond your control, never use the same password on more than one account. If one of your accounts is compromised, the last thing you want is for that to just open the door to all your defenses. Changing your password frequently will help you stay ahead of any breaches that may happen.
Most importantly, don’t trust your password information to entities when you don’t have to. Always think critically about whether you really want to share sensitive information with organizations before you have a chance to regret it. Rather than having a device remember your sensitive passwords, store them offline whenever possible– an old fashioned paper and pencil is about as unhackable as you can get.
Password Managers and Single Sign On
Password managers and single sign on (SSO) can be a great way for people to securely protect their individual credentials without getting lost in the tangle of hundreds of secure and confusing passwords.
These tools crucially only work, however, if you use them securely. If you aren’t going to follow good security practices without a password manager, then putting all your credentials into one could just be shoving your eggs all in one basket for a scammer.
If you choose to use a password manager, make sure that you follow all recommended precautions and protect your credentials to that password manager. Make sure you are choosing a reputable and well-known password manager to use… the last thing you want is to try some brand new password manager, only to find that you’ve been had by a phishing attempt that now has all your passwords!
Hold the Line
Most of the time that digital defenses are infiltrated, it’s through the front door– a password. How secure can you expect your personal estate on the blockchain to be with a wimpy lock on the front gate? Even with the extra layers of security we’ve discussed throughout this series such as private keys, and the precautions we’ll discuss moving forward (looking at you 2-factor authentication!), if your passwords are penetrated the enemy is already inside your defenses.
The best way to make sure you stay entirely secure is to keep that gate locked tight.
Maintaining secure passwords and protecting them from the grips of the enemy prevents any part of your digital profile from being compromised. Even one account being breached represents a chink in your armor that could then give way to other vulnerabilities. Keep your defenses battle ready at all times and don’t let anything past your guard.
The Advance Guard
As we continue to advance through The Guardian Papers, it’s our hope here at Gala Games that we’re contributing a collection of resources for the community to reference and share, so that we can all power-up our defenses against those who would do us harm.
For our next installment, we’ll stick to fundamental security and discuss 2-factor authentication and multi-factor authentication. As this series progresses beyond this module, we’ll rotate to an increasing focus on issues that are incredibly relevant to not only the community here at Gala Games, but the entire cryptoculture as well.
It is our sincerest hope that this series not only empowers you to defend your sovereignty on the blockchain, but also inspires you to empower others throughout our beloved community.
Get ready to feel the vibrations as Thrill, the dynamic duo composed of Kumasi and Chyno Soul, makes their electrifying debut on Gala Music. Thrill brings together frequencies of the stars that light up any room, sending chills and thrills through all who listen. Residing in Los Angeles, Thrill is here to elevate the vibrations of earthly beings, bringing their unique sound and star power to the forefront. Thrillionaires unite as one!
The NFT track sale of “Touchdown Sexy AMF” starts tomorrow, July 3rd at 1pm PT. Limited to only 100 digital copies, this track is your chance to join Thrill and share in their success as they start their Gala Music journey!
“Touchdown Sexy AMF”
Thrill defines sexy with confidence in their debut track “Touchdown Sexy AMF.” With a confident frequency beam that shines brightly, this track embodies the essence of being Sexy AMF. Dive into the world of Thrill and experience a blend of hip hop rap and world music that will leave you captivated and wanting more.
Join us in welcoming Thrill to the Gala Music family. Don’t forget – When you own a Gala Music NFT track like this one, you can unlock daily $MUSIC platform rewards simply by pairing your track to an active Jukebox Node, powering the network and empowering your account at the same time!
If you’re ready for greater rewards, consider becoming a Jukebox Node operator and powering the decentralized Gala Music ecosystem. Right away, you’ll be able to host 10 tracks (yours or someone else’s) to share in their rewards! Learn more about Jukebox Nodes here.
Welcome to July! It may be hot outside but we’re pleased to announce the coolest new item in the Gala Games store… VOX Land!
As we prepare for Project Cerberus, VOX’s upcoming game, community members have been FOMO’ing hard about VOX land, which will be one of the best ways to get into VOX rewards! So the team got together and came up with a straight bonkers way for anyone to get their hands on a Rare plot this July!
Imagine a world where you can send money to anyone, anywhere, at any time, without needing a bank or a middleman. That’s the power of cryptocurrency. Cryptocurrency is a type of digital or virtual currency that uses cryptography for security. Unlike traditional currencies issued by governments (like the US Dollar or the Euro), cryptocurrencies operate on technology called blockchain, which is a decentralized system spread across many computers that manages and records transactions.
In the GalaChain ecosystem, $GALA is the core cryptocurrency, used as a utility and gas token throughout the ecosystem, as well as the primary reward given to those community members who power the network.
The First Cryptocurrency
The Bitcoin Whitepaper was famously published on October 31st, 2008, first introducing the concept of a “Peer-to-Peer Electronic Cash System.” The document was published anonymously, by a developer known only to the world as their pseudonym, Satoshi Nakamoto.
Even over 15 years later, this Whitepaper is still considered foundational reading for anyone interested in web3 technology. We encourage everyone in our ecosystem to read it for a greater understanding of the conceptual thinking and the functionality behind cryptocurrency.
How Cryptocurrency Works
Think of cryptocurrency like a super secure, digital version of cash. When you make a transaction with traditional money, a bank verifies and records it. With cryptocurrency, this verification and recording are done by a network of computers using blockchain technology. Here’s a simple breakdown:
Blockchain: Imagine a digital ledger (like a notebook) that’s constantly updated and shared across thousands of computers. Each page of this notebook is a “block,” and a chain of these blocks forms the “blockchain.”
GalaChain is name of the blockchain built by Gala to power our growing ecosystem.
Decentralization: Instead of a single bank or institution controlling the ledger, thousands of computers (called nodes) maintain the blockchain. This makes it very secure and almost impossible to hack.
The GalaChain ecosystem is powered by multiple networks of nodes, with Gala Founder’s Nodes acting as the backbone.
Cryptography: This is a method of protecting information through complex codes. It ensures that transactions are secure and that the identity of the people involved remains anonymous.
Why is Cryptocurrency Important?
Cryptocurrency is a game-changer in the financial world for several reasons:
1. Decentralization
Traditional financial systems are centralized, meaning they rely on a middleman (like a bank), to verify transactions. Cryptocurrencies remove the middleman, making transactions faster and cheaper.
2. Security
Thanks to blockchain technology and cryptography, cryptocurrencies offer a high level of security. Each transaction is recorded in a public ledger that is nearly impossible to alter.
3. Accessibility
Cryptocurrencies can be accessed by anyone with an internet connection, opening up financial services to billions of people worldwide who lack access to traditional banking. As smart phones and internet access continue to spread across the globe, this accessibility continually increases.
4. Innovation
Cryptocurrencies have sparked a wave of innovation in the financial sector, leading to new technologies and services like decentralized finance (DeFi), which offers traditional banking services without banks. Innovations in the financial world are also paving the way for new groundbreaking tech in countless other industries, all centering around the capabilities of blockchains.
5. Speculation
Just like with the dot-com boom of the late 90s and early 2000s, many early adopters have done very well purchasing and selling various cryptocurrencies strategically. The historic and rapid rise in value of many cryptocurrencies like Bitcoin and Ethereum has created a new world of crypto traders and speculators who dig into these markets.
Popular Cryptocurrencies
Here are some examples of different types of cryptocurrencies today. Keep in mind that thousands and thousands of different crypto tokens have been created in recent years, from highly functional utility and governance tokens to absurd meme coins– This is merely a list of examples you may have heard of and it’s nowhere near exhaustive.
1. Bitcoin (BTC)
The first cryptocurrency is often referred to as digital gold due to its limited supply (21 million coins).
2. Ethereum (ETH)
Not just a cryptocurrency, the Ethereum Virtual Machine allows developers to create decentralized applications (dApps) using smart contracts, which are self-executing contracts with the terms directly written into code.
3. Ripple (XRP)
Designed primarily for digital payment processing, Ripple aims to enable instant and low-cost international money transfers.
4. Litecoin (LTC)
Created by Charlie Lee in 2011, Litecoin is often referred to as the silver to Bitcoin’s gold. It offers faster transaction times and a different hashing algorithm.
5. Cardano (ADA)
Developed with a research-first driven approach, Cardano aims to provide a more secure and scalable blockchain that can execute smart contracts and provide decentralized applications.
6. Gala (GALA)
The official token of Gala, $GALA powers the multiple platforms, projects and products within the growing GalaChain ecosystem. It allows players to buy in-game items, participate in governance, receive rewards and more. $GALA is an essential part of the GalaChain, a blockchain built for entertainment but ready for anything.
The Future of Cryptocurrency
Adoption of cryptocurrency is still in its early stages, but its potential is immense. As more people and businesses begin to understand and adopt these digital currencies, we could see significant changes in how the world conducts financial transactions, invests and even governs. Here are a few future trends to watch:
1. Mainstream Adoption
As cryptocurrencies become more user-friendly and regulatory frameworks are established, we could see widespread acceptance and use of cryptocurrencies in everyday transactions. This will become evident as it becomes simpler to pay with (and accept payment as) different cryptocurrencies around the world.
For an industry leader’s insight on the mass adoption question, check out this recent Cointelegraph article, highlighting an interview with Animoca Brands co-founder Yat Sui, who says that mass adoption is closer than we may think and that gaming will still act as its primary catalyst.
2. Integration with Traditional Finance
Banks and financial institutions are beginning to explore integrating cryptocurrencies into their services. This could lead to hybrid financial products that combine the stability of traditional finance with the innovation of cryptocurrencies. Recently, leading cryptocurrencies have even been approved as ETF (Exchange Traded Funds), allowing traditional investors to integrate them into portfolios.
Blockchain and cryptocurrency technology are evolving rapidly. Innovations like decentralized finance (DeFi), non-fungible tokens (NFTs), and blockchain-based voting systems are just the beginning. At Gala, we’re especially eager to see all the new technologies that the highly skilled community of blockchain innovators will contribute to the world across numerous industries in the future.
We’re especially interested in empowering the creators of tomorrow’s new tech, as demonstrated by the GalaThon Hackathon event held during GDC 2024 earlier this year. We’re excited to host more similar events in the future to see what our amazing community can imagine and create!
4. Regulatory Changes
Governments around the world are grappling with how to regulate cryptocurrencies. Clear and fair regulations could provide legitimacy and protection for investors while fostering innovation. While early pioneers in cryptocurrency were wary of these coming regulations, today’s cryptocurrency enthusiasts tend to welcome them as something that will help the industry and prove verifiable legitimacy.
Cryptocurrency represents a huge step in the evolution of money. By leveraging blockchain technology, cryptocurrencies offer a secure, decentralized and efficient way to transact and store value. As the technology matures and adoption grows, cryptocurrencies could reshape the global financial landscape, making it more inclusive and innovative.
Stay tuned for more blogs in our explainer series, where we’ll dive deeper into the fascinating world of Web3 and its key concepts!
At Gala Music, we’re all about empowering artists, fans and collectors to create a new world of music where anyone’s success is everyone’s success. Incentives to share are some of the most important ways that we can empower everyone while improving the platform’s long term success and scalability.
Tracing today’s web3 back to its earliest days will reveal a narrative whose backstory began with marketing ideas such as loyalty programs, incentives and networking. The founder of Gala saw an ecosystem where everyone was stronger together, recognizing that if an entertainment company could properly incentivize its users to share the vision with new users, then everyone could benefit from the money saved that would otherwise go to social media advertising companies and their stranglehold on web2 marketing. By pairing this revolutionary idea with the empowerment made possible by blockchain tech, Gala was able to thrive by rewarding its early adopters.
If you’re familiar with Gala Music at all, you already know that you can own NFT tracks for a share in the daily $MUSIC generated by the plays of your track on the platform. But you may not realize that there are tons of other ways (besides track ownership) to start stacking $MUSIC rewards of your own!
Gala Music Rewards
In Gala Music, engagement rewards are simple and (in true Gala fashion) somewhat gamified. Using a daily distribution point system, we are able to add yet another strategic dimension to your Gala Music experience. Each day, a portion of new $MUSIC is available for distribution as rewards for activity on the platform.
Qualifying actions for these rewards are designated in the Whitepaper as Ecosystem Supporting Actions. Making up 25% of the generated $MUSIC on a daily basis, they are designed to promote the growth of a healthy ecosystem and give all users a way to generate $MUSIC simply by engaging with Gala Music. For most rewards, there is no requirement to own NFT items, and for some, there is no spending prerequisite of any kind!
To determine the amount of $MUSIC that a user will receive for their interaction, various platform sharing activities qualify the user for various numbers of points. Then at the end of each 24 hour period, $MUSIC rewards are distributed proportionally to those points.
Below is the current list of point-qualifying actions and how many points are received for each.
A referred user purchases and pairs an NFT track – 1 Point
A referred user purchases a Jukebox Node – 15 Points
As the Gala ecosystem continues to grow, your referred users will continue to be connected to you for various rewards and situations where you may receive credit for referring them. Do not underestimate the power of referrals in the web3 world. With Gala’s dream of onboarding the first billion users to blockchain in the entire world, imagine how many of those could be your referrals!
How to Share
You’ll find your referral link in multiple locations of your Gala Music account, such as at the top of the Referrals and Rewards page.
Additionally, if you use the social share option on individual tracks to share directly on social media, your referral will automatically be connected when your friends create an account as a result of your share.
That’s it! Get out there and start sharing your favorite Gala Music tracks and referring new users. 🔥
