This Startup Is Fixing The Biggest Security Hole In Bitcoin Exchanges
Author: Kyle Torpey
Throughout Bitcoin’s ten year history, one of the common issues has been the fact that the centralized exchanges where people are able to buy and sell the crypto asset are susceptible to hacks. In fact, research by hardware wallet manufacturer Ledger estimates more than $1.5 billion worth of crypto assets has been stolen from these exchanges over the years.
However, new crypto startup Arwen (formerly Commonwealth Crypto) thinks they’ve come up with a solution to this problem. Today, Arwen announced the launch of a testnet version of their platform, which allows traders to keep control of their crypto assets while they’re trading on exchanges via a layer-two blockchain asset transfer protocol.