Nash launches decentralized API keys

Nash

1 month ago
229 QCP
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Nash is proud to launch decentralized API keys based on secure multi-party computation (MPC). Now enabled for our non-custodial cross-chain markets, these new API keys bring custody of digital assets to a whole new level. Get started with our TypeScript APIs here!

This is the first time a cryptocurrency exchange can offer the kind of API keys institutional and algorithmic traders need to trade with no counterparty risk.

Institutions employ many individual traders who interact with exchanges through APIs. Each trader is given only partial access to the institution’s master account. No individual trader should be able to drain the institution’s wallet, make trades over a certain value or withdraw to an unknown address.

In traditional setups, traders will be given an API key with permissions attached, limiting their access to the institution’s master account. What’s more, if a security breach is detected, an institution can immediately revoke all keys.

On centralized exchanges, it is comparatively easy to configure APIs along these lines. Of course, because of their centralized nature, such exchanges remain a security weakness. According to Forbes, hackers stole over $4 billion in cryptocurrency during 2019, up from $1.7 billion in 2018.

Nash can now offer the kind of APIs institutions need, but with the significant benefit of being a non-custodial exchange. This has not been achieved before in the blockchain industry. On a DEX, a single user key always controls all assets – a security concern that is unacceptable for institutions and high-volume traders.

In combination with Nash’s state channel solution for high-speed cross-chain trading, including real Bitcoin trading, our decentralized API keys finally make secure, non-custodial cryptocurrency trading available to institutions.

How it works: https://bit.ly/2UGu6w1
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