28 C
New York
Sunday, July 21, 2024

Web3 Security Platform Redefine Partners with Safe for Blockchain Transaction Security

Must read

Self-custody infrastructure provider Safe (formerly known as Gnosis) has announced a strategic partnership with blockchain security firm Redefine.

The main aim is to enable users to transact with “more confidence” by diligently checking each transaction which can be achieved by integrating Redefine’s pre-transaction risk assessment tool DeFirewall into Safe’s user interface.

Enhancing Blockchain Security

According to the official press release shared with CryptoPotato, the integration of Redefine’s DeFirewall into Safe is expected to elevate the level of protection over assets while simultaneously guaranteeing greater transaction security. The latest move will ultimately foster greater adoption of digital assets, Redefine said in a statement.

Richard Meissner, Co-Founder and Technical Lead at Safe, underscored the importance of improving the user interfaces of Web3 platforms in a bid to combat bad actors and exploits in this digital asset industry. He also highlighted the issue of blind signing, where users may sign off on transactions they are not fully informed about. This is an area of concern in the process of making self-custody accessible to a broader range of users as well as organizations, the exec added.

“By partnering with Redefine and integrating DeFirewall, Safe is offering greater transparency and assurance in their everyday transactions, enabling sustainable growth on the platform.”

Redefine’s CEO and co-founder Shira Brezis said that the integration combines two crucial elements for the user – enhanced risk visibility and trusted security. She further stated that the partnership will usher in a new era of security with this collaboration between the two platforms.

ADVERTISEMENT

Gnosis Safe’s Expansion and Rebranding

Safe is originally a product in the Gnosis ecosystem. The digital asset management platform rebranded to Safe in July 2022 after spinning off from its parent company and raised $100 million in funding, in a round led by crypto fund 1kx. Other participants included prominent names such as Tiger Global, A&T Capital, Blockchain Capital, ConsenSys, and Polygon among others.

The Safe community members later voted to launch the SafeDAO and the SAFE token.

Safe and other self-custodial solutions had previously partnered with MetaMask to expand the latter’s organizational reach and streamline the DAO experience. More recently, the firm tapped payments giant, Stripe to roll out a new software development kit for Web3 developers, allowing them to build Web3 apps with the help of account abstraction.

SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

More articles

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 comments
Inline Feedbacks
View all comments

Latest News