October 15th, 2018 — Lugano, Switzerland — the Spatium team was making heads turn at the Ethfinex Governance Summit in Lugano, Switzerland.
The summit, organized by the Ethereum-based cryptocurrency exchange, Ethfinex, brings together academics, entrepreneurs, innovators, and influencers to discuss the latest developments in distributed governance.
When discussing distributed governance, it is important to address the issue of centralized security of today’s wallets and major exchanges. Weekly news stories about hacks and vulnerabilities in the cryptocurrency space cast serious doubt on any model that puts all trust into a single private key.
This is why Spatium developed a distributed (i.e. decentralized) system of signing transactions and storing user data, including on the blockchain. That’s also why Spatium’s keyless software wallet (available in Google Play and the App Store) is more secure than current hardware wallets — by getting rid of that centralized single point of attack. It has already passed a rigorous independent cybersecurity audit.
“Personally, I am very excited by how receptive the experts here in Lugano are to Spatium’s mission of letting everyone crypto securely,” notes the Spatium project’s CEO, Geray Yusifov: “They get how transparent and forward thinking our wallet solution is, and how perfect of a fit it is for a collaboration with Ethfinex. We are looking forward to collaborating with Ethfinex for years to come.”
Spatium’s wallet and other solutions become even more relevant after Ethfinex announced the creation of Ethfinex Trustless, a new trading platform that places security, privacy, and control in the hands of the users.
“With Ethfinex Trustless, traders will not have to send their funds to an exchange — but without an exchange holding custody of their funds, who will make sure that those funds are safe?” asks Spatium’s CTO, Valery Vashkinel: “This is where Spatium steps it. A key advantage of our wallet is to make traders certain that your funds are fully secure from hacks, providing traders with confidence to trade on Ethfinex Trustless without worrying about their funds being stolen from their wallet.”
This issue of what to do about the security of user funds since the exchange will no longer hold them in its custody was a big concern during the Summit. Which is why a number of top blockchain stakeholders and traders in attendance stopped by the Spatium team to talk about Spatium’s unhackable wallet and how it uses distributed signing of transactions and storing data to let traders crypto securely.
Above all else, traders and investors alike want to know that their money is safe. Given this fundamental need, the security of Spatium’s wallet is a perfect compliment to traders’ newfound ability to trade onEthfinex Trustless without having to send their funds to the exchange: security means convenience.
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.