Blockchain Technology Company Kirobo Introduces Atomic Safe Swap

Kirobo, an Israel-based Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term startup, announced today that the company has launched Atomic Safe Swap, which is a new service that eliminates the risk of error and fraud from token swaps.

According to an official announcement shared with Finance Magnates, Kirobo’s Atomic Safe Swap is the world's first secure peer-to-peer token swap service. The newly introduced service enables crypto holders to execute token swaps directly with other users without the need for an exchange or custodial third party.

Kirobo launched Atomic Safe Swap after a successful introduction of the company’s Undo Button service which ensures secure and retrievable cryptocurrency transfers. Earlier this year, Kirobo raised $5 million from DigiMax to expand its products.

Commenting on the latest launch of Atomic Safe Swap, Asaf Naim, CEO of Kirobo, said: “Our mission is to make cryptocurrency safe and easy to use for all users regardless of experience, and Atomic Safe Swap represents major progress in this direction. This service is user-friendly, completely secure and allows users to set their own token prices. We expect the service to provide a real boost to the cryptocurrency ecosystem for years to come.”

Since the start of 2021, Kirobo has expanded its services substantially to facilitate global cryptocurrency users. According to the company, its Undo Button has already processed over $1.5 billion worth of crypto transactions. Additionally, Kirobo’s Undo Button facilitated hundreds of users to retrieve millions of dollars worth of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term.

"Swaps are vital for the cryptocurrency ecosystem, enabling users to invest in promising new tokens and DeFi projects. In Atomic Safe Swap, we've created a safe gateway that anyone can use to diversify their portfolios," Tal Asa, Co-Founder and CTO of Kirobo, commented.

Atomic Safe Swap

Kirobo highlighted that the newly launched service allows peer-to-peer token swaps without the need to use exchange or OTC party. “Atomic Safe Swap is a further development of the aforementioned Undo Button. In order to execute a token swap, the first party creates a passcode and communicates it to the second party. The swap is actioned simultaneously by the smart contract only after the Kirobo server receives the correct passcode from the intended recipient's device, and the first party can cancel the transaction and retrieve their funds until this point,” Kirobo mentioned.

Earlier this year, Michael Pearl joined Kirobo as COO.