Cryptocurrencies are growing at a slow pace. This is due to the fact that most of the underlying technology is technical and difficult for the layman?s understanding. This includes even the accompanying solutions like wallets. In this light, a blockchain start-up wants to build a simple cryptocurrency wallet for use by enthusiasts.
As VentureBeat reports, Kzen Networks raised $4 million that will go into the project. According to the report, Benson Oak Ventures led the fundraising round. Additionally, other investors joined in. They include, Elron, Samsung NEXT, FJ Labs and other business angels.
A simple cryptocurrency wallet to ease hassle
The Israeli start up is entering a fairly crowded market. However, the team behind KZen believes that it all comes down to what they will offer. After all, people can choose where to store their money. The start-up believes that once they solve the technical appearance of today?s wallets, many people will join them.
In fact, the team behind KZen notes that not many people want other people to manage their wallets. They just let happen due to the highly professional knowledge needed to have a chance at self management. In an announcement, the company said:
?To be able to use a crypto wallet you need ? a master?s?degree in computer science, unless you want to depend on a central entity,?which is even worse as the news [reminds] us weekly.?
Inbuilt security features
In addition to simplicity and self-manageability, the company promises a very ?beautiful user experience.? As a matter of fact, the wallet will incorporate new and simpler ways ?to generate and manage private keys.? The simple cryptocurrency wallet will be handy in a market cruel to those with little technical computer knowledge.
Interestingly, the inbuilt security features will go a long way to protect the users? assets. According to VentureBeat, the features will be able to fix breaches that the users might not notice. This is with the understanding that the user has no idea what to do in the event of a breach. Also, the security features will fix human errors that may lead to loss of assets.