Kilobo, one Blockchain company With the mission of simplifying the management of cryptocurrency, a new “atomic security exchange” service has been launched; to achieve peer-to-peer (P2P) token exchange, there is no risk of human error, and there is no need to exchange or host a third party.
The solution includes a logical layer built on the Ethereum blockchain, which facilitates the synchronization of token exchanges with smart contracts; at the same time, it uses a proprietary authentication mechanism to protect transactions.
How does it work?
“Atomic Secure Exchange” guarantees that the exchange transaction is synchronized and secure through a unique authentication key; its components are divided into transaction initiator, Kirobo server and smart contract. This eliminates the risk of any type of violation.
Before both parties authorize the transaction and enter the password, the funds will not leave the custody of either party, and the first party can use Kirobo’s “Cancel button” solution to cancel the transaction until the second party enters the correct password. Therefore, Kirobo Atomic Safe Swap combines the benefits of decentralization with the security provided by neutral institutions.
The swap market is an important part of the cryptocurrency ecosystem, promoting the adoption and strategic investment of altcoins. However, this process can be complicated, unsafe, and expensive.
In the past, users had no choice but to use exchanges. Fees and market fluctuations would affect transactions, or third-party over-the-counter transactions. Exchangers had to temporarily abandon asset custody. Kirobo Atomic Safe Swap is a solution to this problem; it allows users to directly trade while setting their own token price.
“Korobo’s mission is to allow everyone to use cryptocurrency safely, regardless of their experience with these assets. Atomic secure exchange will help us move towards this goal. This tool eliminates the complexity and doubt of the transaction process, while providing Lower transaction fees. We fully expect to greatly stimulate the cryptocurrency ecosystem in the next few years.”
-Asaf Naim, CEO of Kirobo
It aims to make cryptocurrency a daily tool that everyone can use with confidence. Kirobo develops user-friendly products that eliminate the risk of human error and fraud in encrypted transactions; make encryption management as safe as possible. Kirobo has received two grants from the Israel Innovation Agency-this is the only blockchain technology company to achieve this goal.