Multisignature wallet for IOTA released

Bitfinex releases Smidgen - a multisignature wallet for IOTA
19 September 2017   2609

Bitfinex has announced the release of Smidgen - a multisignature wallet for IOTA cryptocurrency. 

According to the company, multisignature wallets add an extra layer of security. By using Multisignature wallets, it is possible to create addresses which require multiple seeds for each transaction, each seed owned by one or multiple persons.

Right now, Smidgen is in its final beta stage. Smidgen is beta software and supports many other handy commands, ranging from address generation to balance checking.

Bitfinex team also draws attention to the fact that seeds to create Multisignature wallets should be used for only one wallet.

It is reported, that Smidgen uses a file which is shared between seed owners. With this file, it is possible to manage the wallet, with its addresses and transfers. This makes it easier to keep track of the current state. Private keys are not part of the file. 

IOTA charts on coinmarketcap.com IOTA charts on coinmarketcap.com

Meanwhile, as shown, IOTA cryptocurrency price is now about $0.57, its market capitalization is $1,595,297,508.

South Korea to Invest $1B in Blockchain Startups

Blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution, local authorities believe
19 February 2019   103

Until 2022, Seoul authorities are investing 1.2 trillion South Korean won ($ 1.07 billion) in fintech startups working with distributed ledger technology. This is reported by CoinDesk.

Funds will be allocated for the development of new technologies through the Seoul Innovation Growth Fund, created last year by local authorities. The foundation will support startups working on various solutions, including those that are in the early stages.

In the first half of this year, the Fund will allocate 13.25 billion won ($ 11.75 million) and 8.4 billion won ($ 7.45 million) in the second half of 2019. For the Korean authorities, the blockchain is a revolutionary technology and an integral component of the Fourth Industrial Revolution.

The officials also noted that the average investment per start-up at an early stage of development in South Korea is almost seven times lower than, for example, in Silicon Valley.

Last fall, Seoul authorities submitted a five-year development plan for the blockchain industry.