large scale image
LCP Image

Back to TSCFM News

CoinDCX releases decentralized wallet Okto

May 24, 2023

CoinDCX releases decentralized wallet Okto
CoinDCX, a worldwide cryptocurrency exchange, has announced the global release of its decentralized finance (DeFi) wallet software, Okto. Self-custodial DeFi wallets are now protected by an artificial intelligence-based multi-factor authentication.

The wallet is made so that users may trade hundreds of tokens with one another and profit from verified DeFi possibilities. CoinDCX’s senior vice president of decentralized financial initiatives, Gaurav Arora, recently told Businessline that the exchange plans to have integrated 100 different protocols over the next four to six weeks. The mobile app’s user interface will be consistent regardless of the underlying protocol. 
 
The Web3 software renders the storage of seed words superfluous, allowing for complete financial autonomy. Using consensus-driven multi-party computing (MPC) technology also eliminates the possibility of a single point of failure. The firm claims that MPC ensures the security of its customers’ money by preventing the disclosure of private keys required to access and manage such monies at any moment. 
 
Okto has optimized for almost 100 percent transaction success by planning for and responding to potential failure situations. The wallet uses cross-chain techniques to simplify the complications of DeFi. It simplifies the process of paying for gas using any cryptocurrency, speeding up and simplifying transactions. A chain-wide gas optimization service is built in, making this possible. 
Important Links:

Recommended for you ...

Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services
Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services

February 12, 2024

Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices
Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices

February 12, 2024

Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices
Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices

February 12, 2024

Enquire Now
REQUEST A CALLBACK
Chat on WhatsApp