European cryptocurrency exchange The Rock Trading announces a partnership with security centered Bitcoin wallet provider GreenAddress to implement multisignature and instant transaction confirmation.
In a press release, The Rock Trading co-founder and CTO Davide Barbieri said the new features aimed to reduce friction for traders as well as improve Bitcoin transactions through speeding up their processing and provide greater storage security:
"We’re pleased to be the first European exchange to support both multisignature and instant confirmation. Our users will be able to store their bitcoin in the most secure wallet, while instant confirmation let them being in control of Bitcoin funds until the last moment. It’s another step toward exchange trust."
According to GreenAddress co-founder and CEO Lawrence Nahrum, moving funds between exchanges takes about 30 minutes, a delay that he believes "makes it harder to take advantage of arbitrage opportunities and thus bring liquidity.”
The entrepreneur said that thanks to their "multisig-based instant confirmation, people can be confident they are the only ones in control while still retaining the convenience of not having to wait for Bitcoin transaction confirmations."
Both companies highlighted the great competitive advantage that represents instant confirmation, and Nahum added that more cryptocurrency-related companies such as exchanges, payment processors and ATMs, would soon offer this new attribute.
Founded in June 2007, The Rock Trading Ltd. is based in Malta and started as a Second Life Lindens exchange platform. The company now operates as trading platform for digital currencies such as Bitcoin, Litecoin, Namecoin, and since May 2013, Ripple.
GreenAddressIT Ltd. was founded in 2013 and is based also in Malta. The startup offers security centered Bitcoin wallet services featuring per-transaction two factor authentication via multisignature of 4 different kinds: email, SMS, robot call and Google Authenticator.
- The island of Malta, where both companies reside