More implementation news. =)
Enjoy and be well, Everyone.
Follow TinyCryptoBlog – Website | YouTube | BitChute | DTube | Steemit | Twitter | Minds | Peepeth | Facebook | Soundcloud | Medium
Follow Coin Telegraph – Website | Twitter | YouTube | Telegram | Facebook | RSS Feed
Fireblocks Launches Network for Institutions to Transfer Assets
Fireblocks builds on its multiparty computational technology to create a Secure Asset Transfer Network, allowing institutions to quickly and securely find, connect and transact.
Institutional-digital-asset security specialist Fireblocks launched its Asset Transfer Network on Tuesday.
The open network enables institutions to securely find and connect with their peers and to transfer assets on-chain while streamlining settlement and post-trade operations.
Over 55 institutions and 26 exchanges were active on the network at launch, including liquidity providers, exchanges, brokers, market makers and custodians.
More of the same, but better
For over a year now, Fireblocks has been employing multiparty computation, or MPC, technology in its Secure Asset Transfer Environment, providing institutional clients with the tools to move digital assets between exchanges, wallets and counterparties.
Volumes rapidly grew as more institutions came on board to take advantage of the secure platform, which features an insurance policy covering assets both while in storage and in transit.
The company also developed a new MPC algorithm, claimed to be 800% faster than the industry standard, and made it free to use for asset custodians and vendors.
The newly launched Secure Asset Transfer Network builds on this environment, further streamlining the process of finding and connecting with counterparties.
New search functionalities
Previously, two counterparties both using Fireblocks had to find and add each other’s wallet addresses manually to connect. However, the new network is more like a directory, enabling institutions to search each other out on the network and send a connection request at the click of a button.
Furthermore, settlement with counterparties is expedited on the platform so that a process that could take hours or even days is purportedly performed in seconds. Fireblocks’s CEO, Michael Shaulov, explained:
“The launch of the Fireblocks Network makes it possible for users to store and transfer assets across the entire institutional ecosystem and removes the need for any middle-men. We’re redefining on-chain settlement processes by adding an unprecedented layer of security and efficiency, preserving the decentralized nature of blockchain and allowing it to operate at the institutional level.”
The network has been rolled out gradually since the start of the year, and at its launch included 55 counterparties and 26 exchanges and supported over 200 tokens. Fireblocks also recently announced that the platform had hit $9.2 billion in transferred assets per month.
Planned future developments include the addition of new partners, tokens and exchanges, along with a mechanism for participants to settle with nonmembers.
Click here to download the Brave browser and block unwanted ads and decide which websites YOU want to support!
Open an account with Coinbase, and you’ll receive $10 in free bitcoin for the first $100 of cryptos you buy or sell
Buy $150 of bitcoin at Bitcoin Depot ATMs, and you receive $15 of free bitcoin using this referral code
Earn bitcoin when you use the Fold app (earn rebates shopping on Amazon!)
Get crypto-themed shirts, stickers, mugs and more at Teepublic
Binance is a great exchange to buy and sell cryptos
Changelly is a good option for exchanging coins without having to use an exchange and the fees are reasonable
Earn bitcoin mining cryptocurrency using your laptop or desktop PC using Honeyminer
Hotel Honey- Rent Mining GPUs for 3, 6 or 12 months
If you want a good, basic crypto wallet for your PC, download the Exodus wallet
Download the Coinami wallet for both the PC and smartphone
Leave a Reply