Traders of crypto currency exchange KuCoin can now store your scriptactive the launch of the new technology from a Boston startup Arwen that allows traders to maintain control over their private keys during trading on centralized exchanges.
President KuCoin Eric don confirmed the news, saying:
“This service will allow investors to trade on a centralized platform without worrying about the security of their funds.”
The start-up representatives Arwen said that with their technology transactions are performed according to the Protocol of the blockchain “second level”, which allows traders to benefit from the “full liquidity and speed of processing book orders on a centralized exchange.”
For example, a security with Bitcoin provides a blockchain Bitcoins, while the security for trading Bitcoin Cash provides Cash Bitcoin blockchain. “This is unlike other technologies that require the introduction of an entirely new blockchain, which must trust traders,” he said to Arwen.
The prospects for introducing new technologies from Arwen
Since the introduction of technology KuCoin runs in beta-mode, originally this service are limited to amounts up to $500 for the transaction as a standard security measure, said General Director of Arwen, Sharon Goldberg in an interview with CoinDesk.
Traders need an account KuCoin, and pass the test of “know your customer” (KYC) to begin work, and they should not be in the United States, and other countries that imposed US sanctions, said Goldberg.
KuCoin also planning to build a decentralized stock exchange, said CEO KuCoi, Michael Gan, stating that “cooperation with Arwen — this is our first step, is carrying out decentralized storage of funds and security of digital assets”.
Earlier this year, Arwen has released a version of their Protocol testnet, stating that it has developed integration plan with KuCoin. The firm said today that talks with other exchanges as well as with hardware wallets and custodians of institutional funds for a similar collaboration.
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Tags: Arwen KuCoin