Place/Date: Lugano, Switzerland - October 17th, 2018 at 8:34 am UTC · 3 min read
Contact: Spatium, Source: Spatium
When the Ethereum-based Ethfinex exchange called together a summit with key stakeholders in the crypto community, those who were selected to attend were all deeply knowledgeable about the most pressing problems facing the industry. Those problems include concerns over distributed governance, distributed storage of data, distributed signing of transaction and more.
However, what stole the show was Ethfinex’ announcement of the creation of a new trading platform with user-centric security, privacy, and control (which it dubbed Ethfinex Trustless). The major feature of Ethfinex Trustless is that it allows trading without sending funds to the exchange.
Yet, if the exchange is not holding funds in a secure custody, who is? The answer is, of course, the traders themselves, in their wallets. Understandably, that notion made many traders nervous since a number of wallets have been either hacked or shown vulnerable to hacks in recent months.
This where the Spatium team stepped up to offer the perfect solution: their unhackable wallet that uses keyless, distributed signing of transaction and storage of data (which recently passed an independent audit from a top U.S. cybersecurity evaluator).
Spatium’s CTO, Valery Vashkinel, said:
“To us, and apparently to all users of Ethfinex Trustless, custody of assets and user control of their funds are extremely important. Within even our software wallet, user funds are more protected than in current hardware wallets, so traders can use Ethfinex Trustless without worrying about their funds’ security.”
Spatium’s ultra-secure software wallet can be downloaded in Google Play and the App Store. Attendees of the Ethfinex Summit discussed the impact of a secure wallet on the greater ecosystem of crypto economy and mainstream adoption of cryptocurrencies. Though, their focus was, of course, on how a secure wallet is a must-have for trading assets via Ethfinex Trustless.
Spatium project’s CEO, Geray Yusifov, said:
“We see our wallet’s unmatched security as the perfect way to collaborate with Ethfinex Trustless. At the end of the day, everyone wants to crypto securely.”
Thanks to Ethfinex Trustless and the secure wallet shared with the attendees by the Spatium team, there is a clear path forward for cryptocurrency users to have secure ownership of their assets at all times while also being able to trade quickly and conveniently.
The Spatium multiservice platform is based on the Spatium Protocol, which eliminates the single point of attack that leaves current wallets so vulnerable – the private key. Instead, pieces of authentication data are spread out among several participating devices and the blockchain and together sign transactions without ever leaving their respective devices.
Based on this technology, the company has already released the most secure software wallet on the market, to be followed by a novel hardware wallet, enterprise wallet solution, ICO service, and more components of the multiservice platform that allows users to crypto securely.