Nash Cryptocurrency Exchange Claimed As Unhackable By Not Holding Customer Funds

Nash cryptocurrency exchange claims to have better security than other exchanges due to its non-custodial attributes in a growing trend for traders to hold their own funds.

Most cryptocurrency hacks are due to the fact that cryptocurrency exchanges have their main internal wallet, which stores their users’ funds,  compromised and drained of assists rather than the actual blockchain being compromised. Nash mitigates this risk by being a non-custodial exchange and having users only hand over funds at the very last minute before making a trade. This allows consumers to maintain control of their money.

Nash uses state channel smart contracts on the Ethereum and NEO blockchain to allow multiple people to trade with each other on 2 of 2 multisig wallet and not having to write to the blockchain until the final settlement, which mitigates the risk of cryptocurrency attacks  However, Nash co-founder Fabio Canesin, admits that there could still be a security risk if a hacker…