Key management provider, Casa, is no longer just a Bitcoin app. The company is adding Ethereum support and will launch a new version of Casa in January. By FrederickMunawa
Regardless of the public perception, come January, Casa will not only support Ethereum's native cryptocurrency, ether , but will also be easier to use, thanks to user experience improvements that will be part of the platform overhaul, according to a release provided to CoinDesk.
“Casa will soon debut a refreshed app, with an enhanced look and feel that will improve members’ experience. Following that, Casa will introduce Ethereum storage, as well as new membership plans,” the release said. The app works by leveraging crypto’s multisignature, or “multisig” functionality. Multisig is when a user needs more than one signature to spend crypto funds. A user holding bitcoin in a Casa wallet for example, could use a “2-of-3” multisig, meaning, three private keys exist, but only two are required to spend funds. If the user loses one key, they can still access their funds with the remaining two .
“You have multiple keys protecting one pool of bitcoin or ether. That means if you lose one key, you don't lose all of your money,” current Casa CEO, Nick Neuman, told CoinDesk in an interview. “So you actually have some resilience and redundancy that provides significantly more security, and you don't have these stories of people losing their life savings.”earlier this month saw many retail investors, including former FTX employees, lose their financial nest eggs.
“The recent failure of FTX – and ensuing catastrophic loss of customer funds – highlights the critical importance of people having a simple and secure way to hold their own private keys,” said Lopp. “Self-custody is the only way to prove ownership and control of your digital assets.”
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