October 12th, 2018 — Lugano, Switzerland — when Binfinex put together the Ethfinex Governance Summit in Lugano, Switzerland, for select top traders and stakeholders, one team stood out.
Bitfinex’ summit brings together hand-selected academics, entrepreneurs, innovators, and influencers with insights to offer on the latest developments in distributed governance.
Centralized security of today’s wallets and major exchanges is a major concern that drew attention from the attendees. With all the news about exchanges and wallets getting hacked, the very idea of putting trust into a private key (no matter how secure) was questioned.
The question became especially pressing after the attending team members of Spatium shared with other attendees how they developed a distributed system of signing transactions — without a private key. Moreover, Spatium’s protocol implements distributed storage of user data among participating devices and on the blockchain itself.
“The experts gathered here in Lugano really understand the importance of letting everyone crypto securely,” notes the Spatium project’s CEO, Geray Yusifov: “Bitfinex itself can use our unprecedented level of security, with Spatium collaborating with them in serving their clients.”
Spatium’s software wallet is already available in Google Play and the App Store, where anyone can download it and get the security benefit of Spatium’s keyless approach to transaction signing. Summit attendees appreciated the existence of a software wallet that is more secure than the hardware wallets currently on the market.
Binfinex also announced the creation of Ethfinex Trustless, a new trading platform that places security, privacy, and control in the hands of the users. This fits perfectly with the services Spatium offers right out of its wallet via their upcoming DEX: trading any supported cryptocurrencies for each other — without sending funds to an exchange.
“As traders ourselves, we understand the importance of keeping custody of your assets,” explains Spatium’s CTO, Valery Vashkinel: “So we are creating an ecosystem where user funds never leave their wallet until a trade is complete and the new currency arrives to the wallet safely, continuously protected by our unhackable, keyless, security.”
In their conversations with the Spatium team, major stakeholders in the crypto community showed their appreciation of Spatium’s keyless, distributed way of signing transactions and storing data.
As the Summit and the announcement of Ethfinex Trustless showed, security and custodianship of funds are paramount to using cryptocurrencies with comfort and confidence. This fits right within Spatium’s philosophy that everyone should be able to “crypto securely.” More information about Spatium is available on their website at Spatium.net. Or see their GitHub repository at https://github.com/CaspianTechnologies/Spatium.
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, decentralized exchange, ICO service, Portfolio Investments service, and more components of the multiservice platform that allows users to crypto securely.
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