bitoftrade’s New Cross-chain Swaps Technology Brings Leading Security Measures to Chain Consensus Combatting Hackers

Industry Disruptor Creates Secure, Efficient Way to Move Tokens from One Network
to Any Other Tokens on Another Network Through its Highly Secure Platform

HAIFA, ISRAEL, August 9, 2022 /EINPresswire.com/ — bitoftrade, the decentralized trading platform with differentiated transparent, non-custodial solutions for crypto traders, announced it has successfully launched closed beta of super-efficient, secure, cross-chain bridge (CCB) making it possible to move any token from one network to any other token on another network. The innovative technology the platform leverages never allows private keys on the wire and keeps the consensus nodes private giving greater security to these problems that have been plaguing cryptocurrencies and metaverse companies for some time providing traders peace of mind.

Igor Chygrynov, CEO of bitoftrade stated, “We are excited about our newly developed cross-chain bridge, which is already being well-received in the marketplace. Our security approach is second to none and one step ahead of the market in protecting private keys. Compromising private keys was the main problem from many of the recent hacks that have happened. We are using the threshold signature approach, which allows us not to store private keys physically, and raise the number of validators with no effect on gas costs for signing transactions. At the moment, we see threshold signature as the most secure approach that can be utilized, and we are the early adopter on the market with this security technology.”

bitoftrade’s cross-chain solution relies on the company’s advanced, secure decentralized proven exchange (DEX) to perform the desired cross-chain swap by having two USD Coin-pegged swaps and transfers. Upon being ready for release, multiple auditors will have analyzed bitoftrade’s solution assuring no vulnerable points. With forthcoming upgrades to the platform, third party market makers will be able to plug into the price forming process, to make the cross-chain swap even more efficient to the end user.

Chygrynov added, “As many traders know, if you have a particular token on a particular blockchain like Ethereum, Polygon, Tron, etc., and you wish to exchange it to some other token on another network, it’s not very easy to do nor is it efficient. Quite often, it is not always possible to do this directly at all. This new feature changes all that instantly and our security measures alleviate the concern of being hacked.”

Compared to its competition, bitoftrade provides transfers from Token A to Token B that have the lowest fees, have the least amount of transfer time on the company’s non-custodial platform with no minimum transfer limit, and secured with the use of a threshold signature.

“In the end, we want to build the ecosystem covering all processes related to cross-chain swaps in the most transparent and secure fashion. This allows utilizing the most efficient models for reward distribution among liquidity providers and cost formation for the end user. We are confident our solution will be the most efficient, transparent, fast, secure, and accessible way to transfer any token on any chain to any other token on any other chain,” concluded Chygrynov.

To learn more about bitoftrade, please visit www.bitoftrade.com. For updates and upcoming events, please follow bitoftrade on Telegram, Twitter, and LinkedIn.

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About bitoftrade:

bitoftrade is a decentralized trading platform with a differentiated transparent, non-custodial solution, offering advanced trading tools accessible for all types of traders. bitoftrade allows users to get more from their crypto portfolio with leverage trading (outside of the U.S.), limit orders, and swaps between all existing tokens on multiple networks with optimized market prices directly from their e-wallets, without registration or KYC verification. By providing mission critical, fully decentralized solutions on multiple blockchains, bitoftrade, provides an improved binance-like platform that has significant advantages compared to other CEXs. The Company has taken active steps to narrow the crypto customer experience gap. Customer support is only a click away via live chat, email, or phone, so there is no waiting for assistance on an account unable to capitalize on market trends. To learn more, please visit www.bitoftrade.com.

Doug Coupe
BOLD Capital Group
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