Author: Jagdish Kumar, India
With a view to display its wallet to the masses, Singapore based Spatium has launched a unhackable, first secured multiplatform wallet at the International Blockchain Congress (IBC) 2018.
The company said that the wallet can integrate any coin into the wallet quickly – with over 100 coins and tokens already supported.
Speaking while unveiling this, Spatium project’s CEO, Geray Yusifov said, “Current crypto wallets are not fully secure and hold up your funds at the exact moment you need to move/trade them.”
The wallet was launched at the India’s first Blockchain conference, which was held in Hyderabad from 3-4 August 2018.
The new wallet is based in the unique Spatium Protocol which aims to usher in the 3rd generation of crypto wallets that finally allows professional traders and newcomers alike to participate in the cryptosphere without the fear of losing all their funds to a hack.
The Spatium project’s Lead Developer Aliaksei Ivanou said, “The Spatium protocol uses a combination of a number of well-known and proven technologies, including the Secure Multi-Party Computation (SMPC) algorithm.”
“The protocol employs multiple devices to sign transactions. These devices could be your mobile phone, your desktop computer, your smartwatch or even our own hardware wallet.”
The Spatium Protocol makes it possible to achieve an unhackable level of security because the pieces of information – the aforementioned secrets – that are stored on each device and are required to sign a transaction never leave the respective device and are never exchanged between devices, the company said in a statement.
The company also underlined that it ensures that even if one device is compromised, there is no way for a hacker to obtain the additional secrets to sign off a transaction. There is no single private key being generated or stored in the Spatium wallet. If transaction details are not agreed upon by the different devices, the transaction will fail to execute.
The company said that it is planning an intial coin offering (ICO) event later this year to fund the production of the first batch of its hardware wallets.
“Our credit card-shaped, NFC/bluetooth (no Internet) hardware wallet will provide additional functionality like fingerprint authorization, easy restoration of lost data, and interaction with many other parts of the Spatium ecosystem,” the Business Development leader of the Spatium project Dilya Zhanispayeva said.
The wallet which is already available in Google Play or the App Store is planning to encompass an entire ecosystem, including a DEX, and ICO Platform, a Portfolio Investment platform, a B2B wallet.