The prediction market Augur that runs on top of the Ethereum blockchain has just announced a partnership with the security and wallet service Airbitz. Augur will utilize the Airbitz Edge Security Platform making the prediction market more accessible to the mainstream with user-friendly encryption that protects private keys.
Edge Security Will Benefit Augur Users
Airbitz tells us that Edge Security is an enterprise security solution that decentralizes security all the way to the edges. This includes data encryption, backup, synchronization, revision history/Data rollback, two-factor authentication, and zero-knowledge password recovery of a user’s encrypted data. Blockchain apps like Augur benefit from Edge Security by enabling seamless security across the prediction markets entire platform.
Joey Krug, Augur Core Developer, said in the announcement:
One of the biggest usability issues with decentralized apps at the moment is that there’s no good way to store private keys and account data without resorting to a centralized server: Airbitz solves this problem for Augur.
The San Diego wallet company says Edge Security has a broad range of use cases that include financial security, data security, authentication, and securing applications like messenger services. Augur’s team of developers can now deploy Edge Security, so the Ethereum-based app’s end users are in sole control of their private data and holdings.
“Call it a prediction, but when fully released, Augur will have with the most seamless account creation, encryption, backup, and synchronization process in the industry, as well as close integration with Airbitz accounts,” explained Paul Puey, Airbitz Cofounder and CEO. “Augur has developed an industry disrupting product that may drastically reshape our financial markets.” He added:
An empowering decentralized app like Augur helps round out the offering of decentralized currencies like Bitcoin.
Jack Peterson, an Augur Core Developer, says his team wants the prediction markets website to be a normal website from a user’s point of view. Partnering with Airbitz not only enables this, but also adds seamless security design across the Augur platform. Instead of manually managing cryptographic keys, Augur users will use a more traditional account system.
Airbitz says they not only look forward to seeing the broad range of use-cases within the cryptocurrency and blockchain landscape, but also across other tech sectors and financial services. Edge Security could revolutionize healthcare data, the Internet of Things devices, and more, the company explains.
What do you think about Augur and Airbitz partnership? Let us know in the comments below.
Images via Airbitz, Augur, and Pixabay