Kirobo, a blockchain company with a mission to simplify cryptocurrency management, he launched his own new ‘Atomic Safe Swap’ service; peer-to-peer (P2P) enablement token trade without risk of human error and without the need for an exchange or third party custody party.
Consisting of a logic layer built on the Ethereum blockchain, the solution facilitates simultaneous token exchanges with a smart contract; while securing transactions with a proprietary authentication mechanism.
How does it work?
‘Atomic Safe Swap’ ensures that swap transactions are simultaneous and safe with a unique authentication key; the component parts of which are divided between the initiator of the transaction, the Kirobo server and the smart contract. This cancels the risk of any kind of violation.
The funds do not leave the custody of or party until both have authorized the transaction and the passcode has been entered, and Kirobo’s “Undo Button” solution can be used by the first party to delete the trade, up up to the secondary party enters the correct passcode. Thus, Kirobo Atomic Safe Swap combines the advantages of decentralization with the security provided by a neutral body.
the exchange market it is a vital component of the cryptocurrency ecosystem, facilitating the adoption of altcoins and strategic investments. However, the process can be complex, and dangerous expensive.
Before, users had no choice but to use an exchange, where taxes and market fluctuations affect the trade, or a third OTC party, where swapers must briefly relinquish custody of assets. Kirobo Atomic Safe Swap is a solution to this problem; allow users to transact directly while setting their own token prices.
“Korobo’s mission is to make cryptocurrency safe for safe use for everyone, it doesn’t matter how experts are with these assets. Atomic Safe Swap will be help us move towards that goal. The tool takes complexity and suspicion out of the trading process by offering lower transaction fees. We expect to greatly stimulate the cryptocurrency ecosystem for years to come. “
– Asaf Naim, CEO of Kirobo
With the aim of making cryptocurrency a daily tool within everyone’s reach use with trust. Kirobo develops user-friendly products that remove the risk of human error and cryptographic transaction fraud; make handling cryptocurrencies as secure as possible. Kirobo is the recipient of two grants from the Israeli Innovation Authority: the only blockchain technology company to achieve this.
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