San Diego based startup Airbitz, which provides a bitcoin wallet service and also their proprietary Edge Security Platform has partnered with Augur, an ethereum based prediction market, to enable them with highly secure account creation process for Augur end-users that automatically encrypts, backs-up, and even synchronizes their private account data across devices.
Airbitz uses the same Edge Security design in their bitcoin wallet, which recently underwent a significant update which added RBF detection support, an updated UI, and a referral program. The Airbitz Edge Security Platform encrypts data on the user’s device before it ever touches a network or server.
A server-side hack yields nothing but fully encrypted, private data. A hack on a user’s device yields only the data of that one user vs millions of users. The incentive to attack the system is reduced by orders of magnitude using this design which Augur is deploying.
In the Augur official blog post announcing the partnership, they wrote,
“We want Augur to be just like using a regular website, from the user’s point of view. Our partnership with Airbitz is a big step towards this goal: users will have the option to use a more traditional accounts system, instead of having to manually manage their cryptographic keys.” Jack Peterson, Cofounder/Core Developer, Augur