TEL AVIV, Israel--(BUSINESS WIRE)--Kirobo, the world’s first-ever cryptocurrency “undo button” software to protect users’ assets from error or fraud, has officially surpassed $1 billion in transactions using the software - a record milestone for the blockchain startup. Asaf Naim, CEO of the Tel Aviv-based Kirobo LTD, announced the landmark as the company continues to make transactions safer and more secure for users across the globe.
Due to the decentralized format of cryptocurrency transactions, investors previously had no recourse if digital coins were sent in error. These errors, which could be as minor as an incorrectly typed digit, accounted for the loss of nearly four million Bitcoin, or $160 billion in losses market-wide.
Kirobo’s breakthrough software has allowed users to cancel and reverse transactions before they are finalized, eliminating these cryptocurrency transaction risks.
Kirobo LTD capped a record month with over $900 million in growth over thirty days, surpassing the $1 billion-mark in the final days of June. Kirobo has now completed over 15,000 transactions.
The following statement has been released by Asaf Naim, CEO of Kirobo, LTD:
“We are enormously proud to witness the rapid rate of adoption. The ecosystem was gasping for a way to make transactions safe and easy, and we are tremendously proud to see the crypto market embrace our Undo Button as a solution," said Asaf Naim, Kirobo CEO. “It's important to note of the $1 Billion transacted, $61 million was processed in only one day, demonstrating the scalability of the technology – this solution is going to change the way people interact with cryptocurrency worldwide.”
"The authentication mechanism is divided between the users, the smart contract, and the Kirobo server, making breaches impossible," said Tal Asa, Kirobo CTO. “We’re giving people the best of both worlds – the freedom of decentralized currency with the safety net of a central server, but without any risk of a data breach.”
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