BitGo announces Multi-Signature Wallet and Custody Services for EOS

BitGo announced the launch of its multi-signature EOS wallet and custody services.

EOS is a native token/cryptocurrency on EOSIO blockchain platform. EOSIO blockchain platform that allows vertical and horizontal scaling of decentralized applications. It claims to scale to millions of transactions per second with zero user fees. EOSIO Software is backed by Block.one.

However, controversy erupted when ConsenSys commissioned a thorough benchmarking of EOS through a firm known as Whiteblock and claimed that EOS may not be a blockchain at all but rather a cloud service designed for computation built on a centralized premise.

Executive Opinion

Chief Technology Officer, BitGo, Ben Chan, said, "At BitGo we are dedicated to providing support over the wide array of digital assets our clients demand. The EOSIO software has some innovative differentiators like its high transaction capacity and fee model that required our engineering team to scale our platform. We were able to successfully create an experience for EOS users that is seamless and consistent with how we support other coins and tokens."

CEO of Block.one, Brendan Blumer, said, "We are pleased to see continued institutional acceptance of digital assets. Having trusted and transparent solutions will promote greater participation by businesses and their customers."

BitGo and EOS

Either the first qualified custodian and purpose-built for digital assets, BitGo Trust Company or BitGo Inc will offer EOS custodian services. BitGo now will support over 200 coins and tokens enabling institutional clients to hold a broad array of assets, the announcement notes.

BitGo offers security, custody, and liquidity services with multi-signature security.