The arrival of Bitcoin has brought a new trend to the field of modern technology. The development of the number of people invest in crytocurrencies lead to the increase in demand for a place to store and protect. As well as the normal currencies, people always need to store money in a wallet, a safe or deposit it in a bank account. And for crytocurrency, we also need a wallet to store and manage them. In the cryto market, there are an explodent in the amount of company design for a crypto wallet and among all of that Skywallet stood out and prove for its name. We are here with Leader of Skywallet team for the interview. He will introduce his greatest software product and the unique of it.
Q: Although Skywallet has been popular for who participate in this field, there are a lot of newcomers need to know more about the company. Can You give them a short introduction about Sky wallet?
A: Skywallet is a multicoin wallet application designed for iOS and Android devices. With Skywallet apps you can hold Bitcoin, Ethereum, Litecoin, Trx, USDT, and 30+ other cryptocurrencies all in one place.
Our goal from day one was to simplify crypto, to help Blockchain Technology reach Mass Adoption. With Skywallet, people who have no knowledge about blockchain can be able to buy, store and trade cryptocurrencies in a tradition way which is more familiar with them. We design this software for the convienence of the users, they only need to access to what they already have: Facebook, Twitter or Telegram and we will finish the rest of that for you. We offer hosted wallets that have comprehensive security and an exhaustive list of cryptocurrencies for our users to work with. Millions downloaded is the proof that we are on the right path, and we will keep moving forward.
Q: In terms of security, what is Skywallet doing to ensure all accounts and respective funds are safe?
A: User private keys are stored locally with multi-layer security technology and we divide into 3-layer security with the following classes
The first layer is the security firewall system that is responsible for blocking any unauthorized access, called the access layer. This layer limits access to large numbers like DDOS, which often paralyzes the system.
And the second layer aims to manage data access through decentralization. It job is to block any requests to retrieve data that is not suitable or pending processing problems. This layer is important for our data protection when important types of system data will be stored and governed by this layer.
And the last layer is the layer that ensures recovery with automated backup systems that take care of recovering deleted or encrypted system files. However, if a hacker passes through the upper two floors, this layer is only responsible for ensuring safe information
Q: Tell us more about the various features integrated into the Skywallet service?
A: Beside the multi-layer security that I just said previously. We also introduce you the software system is can anonymous the customers identify and that is call KYC (know your customer). We upgrade it to E-KYC which keep your personal information private and secure. Instead of identifying customers by face-to-face meetings or compare complicating paper documents, eKYC performs customer identification electronically without having to meet face-to-face because of the support of the technologies advance. We check and compare personal information instantly with a centralized database of user identity, biometrics Authentication, customer identification run easier because of the artificial intelligence (AI), etc. Our company can be able to save time, money and human resourse for this process, and help customers have a better user experience for banking services.
Moreover, the amount of transaction time will be faster and precise at anytime, anywhere despite of the fluctuation of the market. Crypto investing funds also help to reduce transaction fees. And we will update the lastest business news and information for customers, therefore, they can track and manage their crytocurrencies in time. At last, one of the most important factor is Decentralized Exchange. Skywallet works seamlessly with leading crypto protocols, allowing you to make instant trades on Decentralized Exchanges. A distributed exchange cannot be closed by anyone. In the other , decentralization means no one controls it, distribution means it is everywhere and therefore cannot be stopped.
Q: As we have already know before, the various of wallet providers have been launched in the market. What is the unique about Skywallet product that the users should choose your application rather than any others one?
A: Our Skywallet is now accumulate Thousands of Supported Coins and I think that is what make us special. Our multicoin wallet app supports all of the main blockchains, and works with any ERC20, BEP2 and ERC721 tokens while also providing coverage as a Bitcoin Wallet and we are being able to cover many other coins at the same time. Our Skywallet development team continues to add support for more cryptocurrencies every month, so be sure to check for updates. Or better yet, reach out to our team to share support for your favourite coins to add into Skywallet.
We support a variety leading crypto protocols and cryptocurrencies such as Bitcoin (BTC)- the first decentralized digital currency based on the blockchain technology. It was created in 2008 by an anonymous programmer known as Satoshi Nakamoto; TRON (TRX)- The TRX Protocol, offers scalable, high-availability, and high-throughput support that serves as the foundation for all decentralized applications in the TRX ecosystem; Ethereum (ETH)- Ethereum is a public, open-source, peer-to-peer network of virtual machines. It is a blockchain-based distributed computing platform and operating system featuring smart contract functionality; Ripple (XRP)- the digital asset that provides source liquidity to payment providers, market makers, and banks. The XRP ledger is an open-source product created by Ripple; Litecoin (LTC)- a proof of work cryptocurrency created by Charlie Lee in 2011 to be a “silver” compared to the “gold” of bitcoin.
Q: Apart from those crytocurrencies that you have mention above, is there any other form of crypto money that Skywallet support?
A: Yes, there is actually have another one, is Stablecoin. As we all know, a stablecoin is form of cryptocurrency whose value is fixed by pegging them to the price of another asset. Stablecoins can be pegged to various kinds of assets, for example USD Coin (USDC), Paxos (PAX), and TrueUSD (TUSD), are tokens backed on a 1:1 ratio by money which was held in the bank accounts. To issue these cryptocurrencies the companies need to place equivalent amount of FIAT currency such as USD in bank accounts. By pegging to real-word assets in this case US dollar, these coins avoid price volatility known in the cryptocurrency trading markets. Some stablecoins are pegged to other cryptocurrencies, referred to as crypto-collateralized stablecoins. The peg of these coins is maintained through over-collateralization and stability mechanisms. A prominent example is DAI, the stablecoin minted in the Maker DAO ecosystem.
And we will not miss that opportunity to take full advantage of it. Skywallet has Bank-Grade security standards, that safeguards your Stablecoins from any potential threats. Our customers can be able to put their mind at ease for their money will be safe and secure and we also design for as friendly-user as possible.