A private keyless solution seems like a bit far fetched a solution for secure cryptocurrency attempts, yet the startup Curve is offering exactly that. The details of the solution are however not yet fully revealed, but the startup believes that their solution is not only secure but also lightning fast.
The startup has managed to secure six and a half million dollars in funding from cybersecurity firm Team8 and the major digital investor Digital Currency Group. The fact that the startup has raised such a staggering amount is the only real variable currently present to measure the reliability of the solution since the official announcement did not carry any real information as to how the startup is securing their users.
Targeted at the financial institutions especially at the Wall Street the startup believes that most big players are staying away from the cryptocurrencies due to the overly complicated procedures in securing the currencies from hack and stealing attempts. To eliminate this problem, the startup is using “proprietary multi-party computation protocol” as a solution to remove private keys from the equations.
The technology this startup is using is not only distributed but also removes the need for two different types of wallets, i.e., the hot wallet and the cold wallet, instead, it presents a cloud-based service allowing better availability of the wallets without the issue of location.
The service is in beta phases right now at and not open to the general masses. However, the startup claims that various stakeholders including institutions, cryptocurrency exchanges, and financial technology companies are currently using the solution. The solution would be made available through subscription on the 25th of March, 2019.