Bitcoin Latinum has announced a partnership with blockchain cybersecurity company GK8, which offers financial institutions and cryptocurrency projects a self-managed, end-to-end custodial platform for digital assets.
With the rise in prominence of digital assets and blockchain technology, hackers are taking novel approaches to break into digital wallets, loot private keys, and steal digital assets from exchanges. As hackers engineer more cutting-edge approaches to digital asset seizure, it is becoming harder and harder to rely on widely-used security standards.
Recent security breaches surrounding digital assets are why the Bitcoin Latinum Foundation is taking yet another next-generation approach to enhance their ecosystem. Bitcoin Latinum will be using GK8’s proprietary cold-storage hardware solution, which acts as a cold vault with Multi-party Computation (MPC) functionality. The MPC functionality will allow dozens of Bitcoin Latinum Foundation members to have access to the vault, as it is the most scalable MPC on the market, optimal for the anticipated network growth of the LTNM ecosystem. DeFi integration is also built into the GK8 hardware device, as smart contract and staking capabilities are enabled.
Also advantageous about GK8’s solution is its air-gapped cold storage capabilities, where LTNM tokens can be stored on the hardware device and transact on the blockchain without an internet connection. Without connection to the internet, the GK8 hardware device can safely store and transact LTNM tokens without the threat of cyber attacks.
“Security is one of the key concerns for both private investors and institutions entering the crypto world,” said Lior Lamesh, CEO and Co-Founder of GK8. “Our solution empowers custodians to grant the maximum level of protection for digital assets under their management while enjoying the versatility that comes with smart contract support. We are thrilled to expand our portfolio and join forces with Bitcoin Latinum as it works to advance the Bitcoin ecosystem into the financial mainstream.”
The partnership with GK8 helps solidify the network security of Bitcoin Latinum as LTNM prepares to launch on several exchanges over the next few months — Digifinex, FMFW.io, XT.com, Bitmart, and Changelly being some of the exchanges on deck. As adoption for Latinum grows, GK8’s premier security solution will help enforce LTNM’s global reputation as a both a next-generation and trustworthy digital asset solution.
Dr. Donald Basile, CEO of Monsoon Blockchain Corporation, the lead developer of Bitcoin Latinum on behalf of the Bitcoin Latinum Foundation, stated: “We are very excited to partner with GK8, A pioneer in the blockchain cybersecurity space. This partnership works to strengthen LTNM’s robust security protocols, and elevates Bitcoin Latinum’s global positioning in the world of digital assets – powering its mass adoption for retail transactions.”
For more updates on Bitcoin Latinum’s growth, please stay tuned to our blog and social media channels for weekly insights. We are excited for all that the future holds for Bitcoin Latinum.