Bitcoin Latinum Taps GK8’s End-To-End Crypto Custody Solution To Secure Its Ecosystem
- Bitcoins , Security
- 15.10.2021 02:20 pm
Bitcoin Latinum, the secure next-generation, insured, asset-backed cryptocurrency with high transaction processing capacity, is announcing a partnership with GK8, a blockchain cybersecurity company that offers financial institutions and cryptocurrency projects a self-managed end-to-end custodial platform for blockchain-based digital assets.
The rise of crypto enthusiasm has encouraged hackers to target blockchains, exchanges, and wallets with increasingly sophisticated attacks in hopes of cashing in. Some of the most recent high-profile incidents include the attack on Liquid, Japan’s top exchange, which lost almost $100 million, and $600 million worth of digital assets from Poly Network. As more funds gravitate toward crypto, the price tags of successful attacks on its supporting infrastructure will likely only grow.
To protect its ecosystem, Bitcoin Latinum will integrate GK8’s proprietary regulation-compliant solution, using it to store its own coins and, potentially, offering its custody to its retail and institutional investors. GK8’s fresh approach to securing digital assets offers both Cold Vault and MPC functionality, along with built-in support for DeFi integration and coin staking. Its proprietary MPC solution allows for dozens of automatic co-signers, while most other available options support up to three, making GK8’s platform the most secure choice for high-frequency transactions in the market. It is also the most scalable MPC on the market, enabling thousands of automatic transactions per second.
The solution also incorporates the world’s first true air-gapped Cold Vault that enables GK8’s clients to create, sign, and send secure blockchain transactions with no internet connectivity, hence eliminating all potential cyber attack vectors. GK8 customers currently manage over $10 billion worth of digital assets through its end-to-end solution.
“Security is one of the key concerns for both private investors and institutions entering the crypto world,” said Lior Lamesh, CEO and Co-Founder of GK8. “Our solution empowers custodians to grant the maximum level of protection for digital assets under their management while enjoying the versatility that comes with smart contract support. We are thrilled to expand our portfolio and join forces with Bitcoin Latinum as it works to advance the Bitcoin ecosystem into the financial mainstream.”
The partnership comes as Bitcoin Latinum prepares to have its token listed on DigiFinex exchange in late October under LTNM ticker. Built as an open-architecture cryptocurrency, LTNM is a greener, faster, and more secure version of Bitcoin, and is poised to revolutionize digital transactions. The Bitcoin Latinum algorithm and infrastructure break barriers and speed limits that have prevented some virtual currencies from achieving practical, real-time use. Furthermore, Bitcoin Latinum looks to reduce the cost of a Bitcoin transaction from dollars to pennies for on-chain transactions.
Dr. Donald Basile, CEO of Monsoon Blockchain Corporation, the lead developer of Bitcoin Latinum on behalf of the Bitcoin Latinum Foundation, stated: “We are very excited to partner with GK8, A pioneer in the blockchain cybersecurity space. This partnership works to strengthen LTNM’s robust security protocols, and elevates Bitcoin Latinum’s global positioning in the world of digital assets - powering its mass adoption for retail transactions.”
In a bid to offer its retail and institutional investors the highest possible security, Bitcoin Latinum will combine the benefits of GK8’s end-to-end custody solution with a robust insurance policy to protect LTNM holders.
Bitcoin Latinum has chosen one of the world’s leading insurance brokers and risk advisers to arrange a comprehensive insurance program for Bitcoin Latinum. The insurance coverage will protect Bitcoin Latinum holders in case of external theft and internal collusion, potentially up to the full value of their holdings. With this insurance coverage, Bitcoin Latinum will become the world’s largest insured digital asset.