Kirobo, a blockchain company with the mission of simplifying cryptocurrency management, has launched a new “atomic security exchange” service; enabling P2P token exchange, there is no risk of human error, and there is no need to exchange or host a third party.
This breakthrough solution includes a logical layer built on the Ethereum blockchain, facilitating the exchange of synchronous tokens through smart contracts, while protecting transactions through innovative authentication mechanisms.
It uses innovative authentication keys to ensure simultaneous transactions, and its components are divided between the 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 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, where fees and market fluctuations would affect transactions and the wider market, or to use off-exchange third parties, exchangers had to temporarily abandon custody of their assets. Kirobo Atomic Safe Swap is an innovative solution to this problem, allowing people to directly trade and set 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
To date, Kirobo’s undo button has processed more than 1.5 billion U.S. dollars in cryptocurrency transactions, and the “search” function has been used hundreds of times, saving users more than 6 million U.S. dollars.
In order to make cryptocurrency a daily tool that everyone can use with confidence, Kirobo has developed user-friendly products that eliminate the risk of human error and fraud in encrypted transactions, and make encryption management as safe as possible. Kirobo is proud to receive two grants from the Israel Innovation Authority-it is the only blockchain technology company to achieve this goal.