Technology has so far flown ahead of whatever inventors, users and the business world would have projected it would become. Everyday, progress is being made. Continually.
The advent of the cryptocurrency Bitcoin heralded an entirely new system of managing money and transactions with improved speed, efficiency and security.
Bitcoin has enabled a smooth and tangle-free use of online cashless transactions. The concept of the blockchain and the network-interconnection of users have made Bitcoin easy to embrace by users. The decentralization and lack of a central body governance and regularization of transactions has increased the appeal Bitcoin holds to individuals and other corporate users.
The security of transaction has been top notch since inception, all the more so as cyber fraud threatens to undo the advantage of online transactions has to many. Even as it promises and delivers all round efficiency in economic transactions, security remains a major concern of Bitcoin, One which has been successfully tackled, but at the expense of the speed of online transactions. The Bitcoin security company BitGo, in a bid to reduce the delay of Bitcoin transactions, improve efficiency of transaction and decrease the time needed for transfers to be confirmed, has launched its new service, BitGo Instant. It ensures security and speed of Bitcoin transactions. With BitGo Instant, transfers are verified and confirmed in an instant, without the security of transaction being sacrificed, thereby avoiding the pain of “double spending.”
Several Bitcoin exchanges will launch the BitGo Instant as one of their offerings. Some of which include Korbit, Bitfinex, Bitstamp, Kraken, Unocoin, FoldApp, ShapeShift, SFOX, Genisis/Tradeblock and Coinhako. BitGo Instant negates the disadvantage of insecurity and lack of speed. BitGo Instant as a means of operation needs both users (senders and receivers) must have BitGo Instant enabled on their Bitcoin wallet.
The ease and speed of the BitGo Instant transfers have drastically cut the ease at which of fraud might be perpetrated and the complexities of double spending on Bitcoin. BitGo offers compensation on failed transaction, confident in its ability to accelerate the speed of transactions, efficiency and the security of the transaction process.
The instant confirmation of transactions, guarantee of transaction process and the considerable savings it allows the customers has made Bitcoin more than a viable option for monetary exchanges. The enhanced speed and efficiency of transactions, decentralization and little or no cost of transaction has caused a renewed upward surge in the use of Bitcoin and BitGo as more partners embrace the new BitGo Instant.
Like a newly freed bird, technology has literally and figuratively flown the coop, with new innovations and ideas developing and improving at an hourly rate, even as users struggle to keep up with its fast pace.
BitGo Instant is innovation and a means of exchange at the peak.