Israel's startup improve 'undo' function for wrong transactions on Ethereum

By The Very Confused Martin Babalor | Crypto Gigs | Airdrops | Earners | 12 Nov 2020

Kirobo, an Israel-based startup known for developing a protocol that is able to undo bitcoin transactions sent to the wrong address, has deployed its product to work on Ethereum network, with more chains to come.

The company’s protocol works by creating an intermediate level onto main blockchain, providing a unique transaction code that must be entered by the recipient in order to receive funds from the sender. Until the recipient has entered the correct code, the sender may retrieve the funds at any time.

“Our aim is to make blockchain transactions as simple and as secure as online banking. We are big believers in cryptocurrency and its potential, yet we are also aware of its dark side—one that hides in the cracks between this amazing technology and its users. We believe that an additional technological leap can close this gap and remove the weak spots that still prevent mass adoption.

Kirobo CEO Asaf Naim

Kirobo's token KIRO is "Whale Proof"

Kirobo recently launched the staking of their native token KIRO: From September 23rd users can provide liquidity on Uniswap. The project has also developed an innovative “whale-proof” staking model, aimed at both supercharging the adoption and preventing token supply concentration. In this design, users contributing ETH to the KIRO/ETH trading pool on Uniswap will be rewarded with KIRO tokens. The difference from traditional liquidity staking is that the maximum amount of ETH staked per wallet is limited to 7 ETH.

The KIRO token was nominated among Top 5 token to follow on Uniswap by Coinmarketcap