Kirobo launches ‘Atomic Safe Swap’ to eliminate the risk of human error for P2P exchange

2021-7-28 12:46

Kirobo, a blockchain company with a mission to simplify cryptocurrency management, has launched its new ‘Atomic Safe Swap’ service; enabling peer-to-peer (P2P) token swaps without the risk of human error and without the need for an exchange or custodial third party.

Comprising a logic layer built on the Ethereum blockchain, the solution facilitates simultaneous token swaps with a smart contract; while securing transactions with a proprietary authentication mechanism.

How Does It Work?

‘Atomic Safe Swap’ guarantees that swap transactions are simultaneous and secure with a unique authentication key; the component parts of which are divided between the initiator of the transaction, the Kirobo server, and the smart contract. This nullifies the risk of any kind of breach.

Funds do not leave the custody of either party until both have authorized the transaction and the passcode has been entered, and Kirobo’s ‘Undo Button’ solution can be used by the first party to cancel the trade, up until the secondary party inputs the correct passcode. Thus, Kirobo Atomic Safe Swap combines the benefits of decentralization with the security provided by a neutral body.

Solution

The swap market is a vital component of the cryptocurrency ecosystem, facilitating altcoin adoption and strategic investment. However, the process can be complex, unsafe, and expensive.

Before, users had no choice but to use an exchange, where fees and market fluctuations affect the trade, or an OTC 3rd party, where the swappers must briefly surrender custody of assets. Kirobo Atomic Safe Swap is a solution to this problem; enabling users to transact directly while setting their own token prices.

“Korobo’s mission is to make cryptocurrency safe to use for everyone, no matter how experienced they are with these assets. Atomic Safe Swap will help us move towards that goal. The tool takes the complexity and suspicion out of the trading process while offering lower transaction fees. We fully expect to dramatically stimulate the cryptocurrency ecosystem for years to come.”
– Asaf Naim, CEO of Kirobo

Aiming to make cryptocurrency an everyday tool that everyone can use with confidence. Kirobo develops user-friendly products that remove the risk of human error and fraud from crypto transactions; making crypto management as safe as can be. Kirobo is the recipient of two grants from the Israeli Innovation Authority — the only blockchain technology company to achieve this.

The post Kirobo launches ‘Atomic Safe Swap’ to eliminate the risk of human error for P2P exchange appeared first on CryptoNinjas.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

P2P Global Network (P2PX) íà Currencies.ru

$ 2.26E-5 (+0.17%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 1.11 %, 7d: 16.40 %
Cåãîäíÿ L: $2.19E-5 - H: $2.26E-5
Êàïèòàëèçàöèÿ $987 Rank 2331
Äîñòóïíî / Âñåãî 43.58m P2PX

error human exchange without kirobo p2p atomic

Èñòî÷íèê: cryptoninjas.net

error human → Ðåçóëüòàòîâ: 29


Ôîòî:

A Tool for Reversing Ethereum Transactions is Now Live

An Israeli government-backed tech firm, Kirobo, is repurposing its invention from Bitcoin to Ethereum and ERC-20 tokens, CoinDesk reports on Nov 12.   Reversing ETH Transactions They have now built a logic layer–a Retrievable Transfer service, on the Ethereum network to protect users from human error and sending transactions to non-deposit smart contracts.

2020-11-14 09:37


Betmatch is making the most of blockchain technology for crypto sports betting

Since its inception, the industry of sports betting has required a certain degree of trust as far as ensuring the accurate recording of betting data is concerned. Traditional crypto sportsbooks run the risk of introducing human error upon bet placement – whether intentional or unintentional – which can lead to the loss of payout for […] The post Betmatch is making the most of blockchain technology for crypto sports betting appeared first on AMBCrypto.

2019-10-22 09:30


BNC Research: THE FUTURE OF THE FIRM: How decentralized autonomous organizations are disrupting the centuries old governance and wealth distribution model of the corporation.

This report looks at the future constraints for the shareholder model in its current form, and why decentralized autonomous organizations (DAOs) will be superior to today’s corporate firm structure. For investors, DAOs will eventually become a less risky investment class compared to shares in a regular company, offering more predictable ROI and better passive returns than most stock dividends - while also minimizing two of the greatest risks in corporate operations - human error and executive self-interest.

2019-7-2 15:00


BNC Research: DAOs are disrupting the governance & wealth distribution model of the corporation

This report looks at the future constraints for the shareholder model in its current form, and why decentralized autonomous organizations (DAOs) will be superior to today’s corporate firm structure. For investors, DAOs will eventually become a less risky investment class compared to shares in a regular company, offering more predictable ROI and better passive returns than most stock dividends - while also minimizing two of the greatest risks in corporate operations - human error and executive self-interest.

2019-6-25 05:00


Ôîòî:

2FA codes are great for security, except when 26M of them are leaked

Just when you thought two-factor authentication was enough to secure your online accounts, a troubling discovery shows how this system can be comprised, thanks to human error. TechCrunch reports that a database of text messages containing more than 26 million 2FA codes, password reset links, and delivery tracking details was left out in the open … This story continues at The Next Web

2018-11-16 13:22


Ôîòî:

On Radical Markets

Recently I had the fortune to have received an advance copy of Eric Posner and Glen Weyl’s new book, Radical Markets, which could be best described as an interesting new way of looking at the subject that is sometimes called “political economy” - tackling the big questions of how markets and politics and society intersect.

2018-7-21 04:03


Ïàðòíåðû Currencies.ru

Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

Kirobo Launches KIRO Token with ‘Whale-Proof’ Staking Mechanism

Blockchain startup Kirobo has announced the conclusion of its successful beta phase, opening the way for the launch of its KIRO token and innovative “whale-proof” staking program. Kirobo’s mission is to protect cryptocurrency users from human error, tackling an estimated 18% of people who have lost funds through sending errors.