the currency of this “special assets” storage method has long been controversial, hackers always let the ups and downs of the virtual currency price curve. Is there a safe storage solution? BitGo provides a “safer” solution.
BitGo a start-up company to solve the currency security issues, by providing the currency network wallet to help users more safely store COINS. BitGo provides multiple signature set, users in the transaction will be verified at least three times, rather than the public key 1 key authentication.
BitGo says single keys provide security strength is not high, there is only one focal point, and less concentrated. So BitGo chosen is multiple authentication scheme, through the online trading, offline backup keys and BitGo stored in the key to validate. Since last year, BitGo operation scale expands gradually, is positioning itself to “provide the currency security services platform”. In addition to the original currency for private wallet service, BitGo also launched Enterprise edition BitGo Enterprise, provide relevant Enterprise institutions such as the currency security services.
this morning news, coin purse BitGo smoothly to raise $12 million m, by a red dot vc (Redpoint Ventures) led, the original investors Bridgescale Partners, Jeff Skoll, Bill Lee, and Hahn chase. New investors have Radar Partners, raised Fund, bitcoins Opportunity, Liberty City Ventures, Crypto Currency Partners and A – Grade Investments.
after this round of investment, red dot venture partner Jeff Brody and Radar Partners Stratton Sclavos will join BitGo board of management.
although BitGo this round of harvest quite abundant, but its competitors also has a good financing support background – Andreessen Horowitz Coinbase, Benchmark of Xapo, Accel support Circle has raised at least $20 million.
have to say this is a risk of the market is still bullish on quite a few investors, BitGo future can go smoothly, it remains to be seen.