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NDAU Implements On-chain Multisig for Institutional Security

Place/Date: Isle of Man - March 19th, 2021 at 3:25 pm UTC · 3 min read
Contact: Robert Penington, Source: NDAU

NDAU Implements On-chain Multisig for Institutional Security

NDAU, known for its introduction of an adaptive digital currency, has included on-chain multisignature in its network. As an additional control mechanism, it is sure to be appreciated by an incoming wave of institutional investors interested in digital assets as a store of value.

Multisig enhances security by requiring multiple users to sign on a transaction before its approval. This type of feature can be applied to many use cases that range from escrow solutions to organizations looking for distributed ways of managing their assets.

The benefits of multisig are especially useful to institutional investors who are interested in exploring the fast-growing space of decentralized finance, or DeFi. This form of added security can be an important assurance for funds who are hesitant to participate in popular features such as staking and others. Ndau itself offers up to 15 percent in yearly rewards, in the form of an Ecosystem Alignment Incentive (EAI), for holders who choose to lock their funds for certain periods of time. Likewise, there is a whole ecosystem of DeFi applications that are easily accessible on ndau thanks to its integrations with Cosmos Network.

Ciarán Hynes, Director at NDAU development team Oneiro:

“NDAU’s simple multisig feature might be the missing piece institutional adopters need in order to feel safe about participating in DeFi. We’re offering secure access to today’s leading DeFi applications available on Cosmos.”

Different from other blockchain networks, ndau’s multisig feature does not rely on smart contracts nor is it built into the wallet app. NDAU chooses to allow users to create any kind of multisig account by simply using the command line, citing stability considerations as well as the unnecessary complexity that is present in other implementations.

Features such as multisig and ndau’s recently announced in-wallet staking capabilities continue to place the digital currency as an appealing new solution for a store of value. One that counts on DPOS scalability, built-in monetary policy for price stabilization, and yearly staking rewards of up to 15 percent. Ndau is already available to organizations looking into multisig control features and is soon to be listed on Bittrex Global’s cryptocurrency exchange.

About NDAU

NDAU is an adaptive digital currency built by Oneiro to optimize for long-term store of value and supported by a decentralized ecosystem. It is built on the Tendermint protocol and is a premier DeFi solution on Cosmos Network. Designed with built-in economic structures that incentivize both stability and potential for growth, NDAU provides all the benefits of a digital currency while promoting more fair and accountable governance, dependability, and greater safety for owners not found in existing cryptocurrencies. NDAU is not pegged to fiat currencies or commodities, allowing for more desirable characteristics for long-term holders in particular.

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