Innovation and Security Amidst a World of Attacks: How Ambisafe Overrides Multi-Sig Wallet Insecurity

Nov 25, 2017 at 11:03 // News
Ambisafe

The forces of reactivity and innovation are integral to the life of a product. In some cases, it is the innovation upon an issue or problem that was causing trouble for the consumer, which drives development the most. If a product cannot reassure the user that its’ main competencies are capable of performing as they are expected, then eventually the user will just switch products.

Addressing these concerns creates a state of change ergo innovation in product development, and maintains the consumer trust and life of said products, especially in the world of technology when a large portion of the client base often have a level of technical knowledge that tests the structure of a product.

This situation describes what happened to the Parity wallet; a competent user base discovered a flaw in the wallet software, exposing vulnerabilities that led to the loss of vast quantities of Ethereum from large ICO fundraisers. New ICOs could permanently lose access to their funds if they utilize Parity’s services for storing their coins, according to an article published by TechCrunch.

Solutions to Digital Assets Risk

Enter Ambisafe. They closely followed and learned from the Parity attacks, and it paid off; all the ICOs using their wallets were unaffected. Put it this way, having shored up the risk from multi-sig wallets they are currently one of the safest bets for storing Ethereum and Ether-based tokens.

Resilience is a key factor in Ambisafe implementations, which is demonstrated in their white label multisig wallets, in the online based wallets, and with their mobile integration. The focus on user security has prioritised features like SecondFactor authentication, secure password recovery and of course multisig, which have all done their part in toughening up the security of the project.

The platform Ambisafe offers encapsulates an entire ecosystem of insurance, token creation and ICO engineering services. They are already an in-demand company, with 3rd party, middleware, exchange and issuer products diversifying what they can offer to clients. Broad experience from all functions adds to the scope for scalability and expertise required within consultancy.

Safe, Secure, and Successful

The standard has been set for multifunctional wallets for ICOs. It is clear that backer’s funds need to be protected with the utmost importance. And in the future, as more and more companies aim to raise funds through ICOs, having appropriate and most importantly capable security functions will maintain the level of confidence needed to continue trading and gathering funds using Ether.

When consumer trust is more important than ever; digital trade, especially in cryptocurrencies needs the assurance in its’ stability and security as encouragement to users old and new. Ambisafe offers this reality to businesses and individuals alike, and it’s never been safer.

More information about Ambisafe is available on the Website: https://www.ambisafe.co/

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