Samsung invested in a bitcoin wallet without a secret key

ZenGo project developers have attracted $ 4 million investment to create a cryptocurrency wallet of the same name that uses a special cryptographic protocol to identify the user. The South Korean corporation Samsung headed the round of financing, reports The Block.

But here is another take on what we are building. https://t.co/O160UAHcYZ

– ZenGo (by KZen) (@ZenGo) April 17, 2019

The creators of ZenGo abandoned the secret key in favor of threshold signature technology, which will guarantee the security of assets.

“Many people are afraid to use cryptocurrencies because of the numerous stories about how people accidentally lost or forgotten passwords from digital vaults and could not recover their savings. The ZenGo wallet will make cryptocurrency more accessible even for users who do not understand the principles of encryption and cryptography, ”the project representatives said.

In addition to Samsung, ZenGo was supported by Elron and Benson Oak Ventures.

Recall that in February, Samsung introduced the flagship smartphone Galaxy S10 with a built-in cryptograph and the Blockchain KeyStore.

In March, the South Korean corporation announced a partnership with game-oriented cryptocurrency Enjin Coin . Against the background of this news, the price of an asset has risen by more than 75% over a short period of time.

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